The Monks Investment Trust

Spencer is an investment manager in the Global Alpha Team. He has been an investment manager in the Global Alpha Team since its inception in 2005 and Monks Investment Trust since 2015. Spencer is a co-manager of International Concentrated Growth Strategy. He joined Baillie Gifford in 2000 and became a partner in 2013. Spencer has also spent time working in the Fixed Income, Japanese, European, Emerging Markets and UK Equities teams. He graduated BSc in Medicine from the University of St Andrews in 1997.

Malcolm is an investment manager in the Global Alpha Team. He has been involved in Global Alpha since the product’s inception in 2005 and this is his sole portfolio responsibility. He joined Baillie Gifford in 1999 and became a partner of the firm in 2011. In 2021 he became a managing partner with overall oversight for the investment department. Malcolm previously worked in the UK Small Cap and North American equity teams. He managed the North American portion of wider global portfolios while in the North American Equity Team. Malcolm graduated MA in Economics and History in 1998 and MLitt in Economics, Politics and Management in 1999, both from the University of St Andrews.

Helen is an investment manager in the Global Alpha Team. She joined Baillie Gifford in 2008 and became a partner in 2020. In addition to Global Alpha, Helen has spent time working in our Developed Asia, UK, US Equity Growth, and Emerging Markets Equity teams. She graduated BSc (Hons) in Economics from the University of Warwick in 2007 and MPhil in Economics from the University of Cambridge in 2008.

Randeep Singh Grewal was appointed a Director in 2024 and became Chairman in 2025. He is a non-executive director of the Global Smaller Companies Trust plc. Having read Medicine and Computer Science at Jesus College, Cambridge, he trained as a vascular surgeon before transferring his skills in healthcare and technology to working as an analyst and portfolio manager with Tudor Capital in 1998. He was a senior portfolio manager at F&C Asset Management from 2010 to 2012 and for Trium Opportunistic Equity Fund from 2015 to 2019.

Claire Boyle was appointed a Director in 2020. Having qualified as a chartered accountant with Coopers & Lybrand, where she specialised in litigation support and forensic accounting, Ms Boyle then spent thirteen years working in equity investment management for: Robert Fleming Investment Management; American Express Asset Management; and latterly Oxburgh Partners LLP, where she was a partner with responsibility for their European Equity Hedge Fund. She is a non-executive director of Nippon Active Value Fund plc, a non-executive director and chair of the audit committee of Fidelity Special Values Plc, and the non-executive chair of Life Science REIT plc.

Stacey Parrinder-Johnson was appointed a Director with effect from 1 March 2024. She was, until September 2023, chief investment officer of Investec Wealth & Investment UK, where she was also a member of the executive management committee, chair of the investment committee, and a member of the executive risk management committee. Stacey brings twenty years of experience in asset selection, portfolio management, and manager analysis across UK and international mandates, and has particular strength in investment trust governance, sustainability and risk issues. She has previously served as a pension trustee and has been a governor of the University of Portsmouth since November 2023.

Belinda Richards was appointed a Director in 2016 and became Senior Independent Director in December 2023. She is a former senior partner at Deloitte LLP with a thirty year career specialising in business operations and strategy development with a particular focus on the Financial Services and Consumer Products sectors. She is currently the chair of the audit committee of Schroder Japan Growth Fund plc, a non-executive director of Phoenix Group Holdings and a non-executive director of YouGov plc.

Professor Sir Nigel Shadbolt was appointed a Director in 2017. He is Principal of Jesus College, Oxford, Professorial Research Fellow in the Department of Computer Science, University of Oxford and a visiting Professor of Artificial Intelligence at the University of Southampton. He specialises in open data and artificial intelligence and is currently also chair of the Open Data Institute.

David Ballance was appointed a Director with effect from 1 March 2025. He brings around 37 years’ investment management experience. He was a Partner and Investment Director at Ruffer LLP from 2007 until 2022. An external member of the Investment Group at Christ Church Oxford since 2012, he took on the role of Chair in January 2025. He is an External Investment Adviser to the Nuffield Foundation and currently serves as a Member of their Investment Committee, is a Trustee Director of the NACAB (1991) Pension Plan, a Member of the Book Tokens Investment Committee and is also a Trustee for the Fellowship of St John (UK) Trust Association, Pro Corda Trust and St Alban’s Holborn.

Richard Curling was appointed a Director with effect from 1 October 2025. He is a highly experienced investment trust Director and fund manager, who has specialised in investment companies for over 10 years. He is currently the Chair of Montanaro European Smaller Companies Investment Trust and a non-executive Director of Schroder UK Mid Cap Fund plc.