Meet the manager: Iain McCombie
Co-Portfolio Manager of Baillie Gifford UK Growth Trust.
If you weren’t a fund manager, what job would you do?
Historian. It was my favourite subject at school and my Dad was a historian – he warned me off it as a career which was probably good advice and I’m content being an amateur enthusiast reading widely. Although my job is really about looking forward, I do get from history an appreciation of where we’ve come from and the struggles of making progress, which is often useful in thinking about investments.
What was the proudest moment of your career?
Being offered a job as a trainee investor at Baillie Gifford by the then senior partner. I’d spent a day interviewing and the experience was amazing and I was so keen to join that I said “yes” to him before I even knew the salary!
What was the most difficult moment of your career and why?
In my 30 years I’ve had periods of bad performance and they’re never easy. The historic numbers don’t lie and trying to reassure clients, boards or shareholders about why the future will be better by doing what we’ve always done as team without sounding arrogant is a tricky balance.
I discovered Parkrun a few years ago – it’s sociable, great for fitness and allows you to scratch your competitive instinct modestly whilst knowing there’s always someone faster than you.
Iain McCombie, Co-Portfolio Manager of Baillie Gifford UK Growth Trust
What advice would you give to your 20-year-old self?
It’s easy to find fault with things – it’s harder to imagine ‘what if I’m wrong’.
Away from the workplace, how do you spend your time? Is there a particular hobby you enjoy, or something that is a staple of your weekends?
I discovered Parkrun a few years ago – it’s sociable, great for fitness and allows you to scratch your competitive instinct modestly whilst knowing there’s always someone faster than you.
Tell us about the last book you read or the last podcast you listened to?
Spies by Calder Walton. A fascinating history of the espionage war between East and West since the end of the First World War. Sobering to see how little has changed in over a hundred years.
Where was the last place you went on holiday and why?
Austria – skiing. I only took it up late in life and despite being far worse than my wife, I love it!
In your personal life, what would you like to achieve in the next 12 months?
Finish our house renovation – never again!
