TEMPUS

Waiting for economic picture to clear

Auto Trader is one of the top holdings of the Baillie Gifford UK Growth Fund
Auto Trader is one of the top holdings of the Baillie Gifford UK Growth Fund
DAVID PARRY/PA

Baillie Gifford UK Growth Fund
Several listed companies received a boost when Boris Johnson’s Conservatives won a thumping victory at the ballot box last month (Greig Cameron writes). Shares of many investment trusts with a UK focus leapt after the result and have held on to those gains since then.

Nevertheless, investors will be watching closely, as there are more questions than answers about how the British economy will perform this year. The budget is nine weeks away on March 11 and there remains the not insignificant issue of agreeing on how to exit the European Union.

The Baillie Gifford UK Growth Fund was among those that got a fillip from the election. Its shares closed at 187p on December 12 before going to 194½p