Elaine Morrison, a partner and former fund manager at Baillie Gifford, will step down at the end of April after 28 years with the firm.

Morrison, a former manager of the £1.1 billion Managed Fund and the Developed Asia Pacific fund - she stepped down from both in 2014 to take a client-focused role - will leave the firm on April 28, according to a statement from Baillie Gifford on January 20.