Monks Investment Trust – Manager change

Adair joined Baillie Gifford’s graduate scheme in 2000 and became co-manager of Monks Investment Trust in 2015. He became lead manager in 2021 following the retirement of Charles Plowden.

Adair retires after a career spanning over 25 years which included him being a partner at Baillie Gifford since 2013. He’ll slowly relinquish his day-to-day decision-making responsibilities until he steps away fully at the end of March.

The trust will continue to be run by three co-managers. Current co-managers Malcolm MacColl and Helen Xiong will be joined by Michael Taylor on 1 April 2026.

Taylor started his career at Baillie Gifford in 2009, before moving to Marathon Investment Management in 2014. He rejoined Baillie Gifford in 2022 and has worked closely with Adair ever since.

Taylor will also replace Adair on a number of funds run by the Global Alpha team and was made a partner of the firm in 2025.

Our view

Although the loss of Adair’s notable industry experience is disappointing, MacColl and Xiong have over 45 years of combined experience between them. The recent addition of Xiong in 2024, and now Taylor, will ensure there is sufficient resource, knowledge and experience to run the trust following Adair’s departure.

With MacColl’s continued involvement, and Xiong and Taylor working closely with Adair, we don’t expect the trust to change in a material way. They’ll continue to use the same investment philosophy and process as when Adair and MacColl became co-managers in 2015.

We think Baillie Gifford and the Monks’ board of directors have managed Adair’s retirement well. Taylor’s worked with Adair for a number of years, and they’ve allowed plenty of time for a smooth transition of responsibilities.

This isn’t a recommendation to make any changes to a portfolio. Investors should make sure any investments match their investment goals, attitude to risk and are held as part of a diversified portfolio. If you're not sure if an investment is suitable for your circumstances, please seek personal advice.