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Ignites: Slash-and-Burn Budgeting Can’t Save Managers’ Profits: Baillie Gifford

Ignites: Slash-and-Burn Budgeting Can’t Save Managers’ Profits: Baillie Gifford

By Jill Gregorie March 11, 2019 – The investment management “gravy train” is rapidly losing steam, and shops need to spend more money — not less — if they hope to stay on track, according to a Baillie Gifford executive. “Companies that respond to customer pressure by cutting their costs rather than investing in their capabilities will, in our view, merely hasten their journey to irrelevance,” wrote Tom Coutts, a partner and portfolio manager at Baillie Gifford, in a first-quarter 2019 commentary.

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