Baillie Gifford increases headcount after a positive year

As it's an independent partnership, Scottish fund manager Baillie Gifford has always been a little secretive when it comes to performance, pay and recruitment.

It's actually been a positive year for the fund manager - assets under management are up by 18% to 76.7bn.

When it comes staff, Baillie Gifford usually has a policy of promoting from within, recruiting at a graduate level and then nurturing its employees until a select few make it to partner level every year.

It has a group of 36 working partners with an average tenure of 19 years, and also generally recruits 7-8 graduates a year for front office positions.

But despite the policy of internal promotion, last year it also recruited externally - staff numbers increased to 633 during the period, up from 611 in 2010.

Most fund managers in Scotland are being more generous with pay this year - Standard Life, Martin Currie and Alliance Trust have shelled out more this year.