Launched in 1909, Scottish Mortgage is considered to be Baillie Gifford's flagship investment trust. These days the trust is Global rather than Scottish and has nothing whatsoever to do with mortgages. Scottish Mortgage is a low-cost equity fund which invests on a global basis. Stocks are carefully selected for their strong growth prospects. The Trust aims to outperform world stock market indices over a five year rolling period. As at 31 July 2014 Scottish Mortgage had total net assets of approximately £2.6 billion, making it one of the UK's largest investment trusts. Please remember that the value of your investments and any income from them may go down as well as up and you may not get back the amount originally invested.