Profits dip at Baillie Gifford unit

Full-year profits at a unit of Scottish fund manager Baillie Gifford plummeted by 67% to £63,000 (€92,150) due to a one-off hit from converting funds to the EU's new collective investments regime.

Costs associated with the exercise amounted to £189,000, according to accounts filed for the year to March 31, 2006.

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