Edinburgh-based Baillie Gifford appears to be winning in the race among asset managers proclaiming their active management credentials, with figures showing that two of its funds have a 99% rating.

Portfolios with an active share of 100% have no resemblance with the indices, while 0% means complete correlation. The Global Discovery Fund, managed by Douglas Brodie, and the Edinburgh Worldwide Investment Trust, managed by Brodie and John MacDougall, both have an active share rating of 99%, according to the group.