Capital at risk

Investment Trust

The Scottish American Investment Company

Investing in resilient, dividend-growing companies that can deliver dependable income now and real capital growth over time. With a long-term mindset and a focus on quality, the Company aims to meet today’s income needs while building lasting value for the future.

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Overview

ISIN

GB0007873697

SEDOL

0787369

Investment proposition

The Trust aims to be a core investment for private investors seeking income. Its objective is to grow the dividend at a faster rate than inflation by increasing capital and growing income. The focus of the portfolio is on global equities but investments are also made in bonds, property and other asset types. The equity portfolio is managed on a global basis and usually consists of between 50–100 stocks. In constructing the portfolio, little regard is paid to the composition of the equity indices.

Share price and charges

Price

552.00p

NAV at fair

584.74p

NAV at book

562.65p

Premium (+) or discount (-) at fair

-5.6%

Premium (+) or discount (-) at book

-1.9%

Ongoing charges*

0.59%

Fund facts

Active share

86%**

Fund launch date

1873

AIC Investment Sector

Global Equity Income

Benchmark

FTSE All-World Index

**Relative to FTSE All-World Index. Source: Baillie Gifford & Co, FTSE.

An income that grows ahead of inflation is valuable. Better still if that income is resilient through thick and thin. SAINTS has delivered annual dividend increases for over fifty years and we are wholly focussed on doing so in the future.

Meet the managers

Meet the directors

Property managers

Intermediary client contacts

If you’d like further information, please get in touch with the Intermediary Client Contact for your area.

Ratings

As at: 31 March 2026

Morningstar Medalist Rating™

Morningstar Medalist Rating™ - Silver

Morningstar Analyst data

Analyst-driven %

100

Data-coverage %

100

Dynamic Planner Risk Profile

Dynamic Planner Risk Profile - 8

Regulatory news announcements

Regulatory news announcements which are released to the London Stock Exchange can be accessed via their service.

SAINTS announcements

The Association of Investment Companies

Further information on investment trusts and the investment trust sector can be found on The Association of Investment Companies website.

Visit the website

Risk Warnings

Risk Introduction

The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies. The value of their shares, and any income from them, can fall as well as rise and investors may not get back the amount invested. The level of income is not guaranteed. The specific risks associated with the Trust include:

Currency

The Trust invests in overseas securities. Changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.

Emerging Markets

The Trust invests in emerging markets, which includes China, where difficulties with market volatility, political and economic instability including the risk of market shutdown, trading, liquidity, settlement, corporate governance, regulation, legislation and taxation could arise, resulting in a negative impact on the value of your investment.

Gearing

The Trust can borrow money to make further investments (sometimes known as "gearing" or "leverage"). The risk is that when this money is repaid by the Trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the Trust will make a loss. If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss.

Liquidity

Values for securities which are difficult to trade may not be readily available and there can be no assurance that any value assigned to such securities will accurately reflect the price the Trust might receive upon their sale.

Derivatives

The Trust can make use of derivatives which may impact on its performance.

Property

The Trust has some direct property investments, which may be difficult to sell. Valuations of property are only estimates based on the valuer's opinion. These estimates may not be achieved when the property is sold.

Corporate Bond

Corporate bonds are generally perceived to carry a greater possibility of capital loss than investment in, for example, higher rated UK government bonds. Bonds issued by companies and governments may be adversely affected by changes in interest rates and expectations of inflation.

Premium Risk

Share prices may either be below (at a discount) or above (at a premium) the net asset value (NAV). The Trust may issue new shares when the price is at a premium which may reduce the share price. Shares bought at a premium may have a greater risk of loss than those bought at a discount.

Buy-backs

The Trust can buy back its own shares. The risks from borrowing, referred to above, are increased when a trust buys back its own shares.

Regulation of Investment Trusts

The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.

Index disclaimer

Source: London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). © LSE Group 2026. FTSE Russell is a trading name of certain of the LSE Group companies. "FTSE®" "Russell®", is/are a trade mark(s) of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company's express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

Important information

Your location indicates you are based in Guernsey and you have confirmed that you are an intermediary. The information in the website is not intended for retail investors. Please select “Change” at the top of the page if this is not suitable for you.

This website is informative only and the information provided should not be considered as investment or other advice or a recommendation to buy, sell or hold a particular investment. Read our Legal and regulatory information for further details.

Contact us

Still have a question?  Please get in touch with us.

Fund performance

Periodic Performance

As at: 30 April 2026

1 Year
3 Years
5 Years
10 Years
Share Price
8.9%
7.7%
22.4%
158.1%
NAV
8.2%
17.5%
39.7%
200.1%
Benchmark*
29.2%
61.1%
73.0%
258.3%

Discrete Performance

As at: 31 March 2026

31/03/2021 –
31/03/2022
31/03/2022 –
31/03/2023
31/03/2023 –
31/03/2024
31/03/2024 –
31/03/2025
31/03/2025 –
31/03/2026
Share Price
11.9%
3.4%
1.8%
0.6%
2.7%
NAV
14.8%
8.0%
9.4%
1.5%
1.5%
Benchmark*
12.8%
-0.9%
21.0%
5.5%
18.0%

Performance

As at: 30 April 2026

View by date range:

Source: Morningstar, FTSE.

Performance figures appear in GBP. Benchmark data is limited to a 5 year period from the current date.

The graph has been rebased to 100.

Discount/premium history at fair

As at: 30 April 2026

View by date range:

Source: Morningstar. Premium/Discount of share price to NAV at fair.

If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.

If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at a Premium.

Active Share

As at: 30 April 2026

View by date range:

Relative to FTSE All-World Index. Source: Baillie Gifford & Co, FTSE.

Dividend Growth Vs Inflation

As at: 31 December 2024

View by date range:

Figures rebased to 100 at 31 December 2014.

Source: LSEG/Baillie Gifford & Co. The Consumer Price Index (CPI) is a measure of inflation that is used in the Government's target for inflation.

Long-term dividend record

No dividend reductions in the past eighty years

Net Dividend SAINTs

We have chosen to use a logarithmic scale for the dividend price to more clearly display the consistent level of dividend increase over the years.
Source: Scottish American Investment Trust Annual Reports, Baillie Gifford. Dividends are shown net of withholding taxes since 1973, when Advanced Corporation Tax was first introduced in the UK. Dividends from 1965-1973 are shown net of the 45% Corporation Tax introduced in the Finance Act of 1965. Dividends prior to 1965 are shown as if the Corporation Tax had existed before 1965, on a comparable basis.

Contact us

Still have a question?  Please get in touch with us.

Fund portfolio holdings

The list of top 10 holdings that this fund invests in.

As at: 30 April 2026

#Holding% of total assets
1TSMC4.3%
2Apple3.2%
3Microsoft2.6%
4Analog Devices2.6%
5Atlas Copco2.5%
6Coca-Cola2.5%
7Procter & Gamble2.5%
8CME Group2.5%
9Roche2.2%
10Watsco2.1%

We publish our full portfolio with an intentional delay to protect the company’s intellectual property.

Property portfolio

More detail on the property portfolio of the Scottish American Investment Company can be found within the annual report.

SAINTS property portfolio (pages 30-31)

Geography

All figures up to: 30 April 2026

Total: 100%

Contact us

Still have a question?  Please get in touch with us.

Insights

Key articles, videos and podcasts relating to the fund:

Filters

Insights

Viewing 33 of 33
  1. SAINTS spotlight: built for resilience

    In a difficult quarter, it’s important to continue focusing on businesses built for the long term.
    April 2026
    Article4 minutes
  2. SAINTS: Manager Insights

    James Dow shares SAINTS’ 2025 performance and future opportunities for the Trust.
    April 2026
    Video7 minutes
  3. alt=""

    Trip notes: Cleveland, Ohio

    In rust-belt USA, paint and coatings companies are the unsung heroes of growth.
    April 2026
    Article4 minutes
  4. alt="Close up of a ripe dark bramble near ripening red brambles on a leafy branch"

    SAINTS spotlight: patience bears fruit

    AI optimism and rate moves shaped stock markets in 2025, but owning quality businesses matters most long term.
    January 2026
    Article8 minutes
  5. SAINTS: fallen to earth?

    Scottish American Investment Company manager James Dow discusses the trust's quality holdings and long-term growth drivers.
    December 2025
    Video46 minutes
  6. SAINTS spotlight: a ‘wicked learning environment’

    See how we’re finding real value in this challenging learning environment.
    October 2025
    Article5 minutes
  7. SAINTS spotlight: compounders weathering change

    In a changing world, resilient compounders drive SAINTS’ long-term growth despite the market shifts and uncertainty.
    August 2025
    Article5 minutes
  8. SAINTS AGM: presentation to shareholders

    James Dow updates shareholders on the resilience of the trust's dividend and portfolio.
    April 2025
    Video23 minutes
  9. SAINTS spotlight: the role of resilience

    How SAINTS finds light amid tariff restrictions, with European exposure and a resilient portfolio.
    May 2025
    Article7 minutes
  10. SAINTS annual letter

    James Dow reviews another year of inflation-beating dividend growth and explores new ideas for the portfolio.
    April 2025
    Article7 minutes
  11. Atlas Copco: Stock Story

    Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
    March 2025
    Video3 minutes
  12. L'Oréal: Stock Story

    Katie Muir discusses how innovation and a positive culture have fuelled the success of the world’s leading beauty enterprise.
    March 2025
    Video3 minutes
  13. An employee arranges sports shoes at an Anta Sports Products Ltd. flagship store in Shanghai.

    SAINTS: adversity is opportunity

    Finding diverse companies that share a great growth culture.
    March 2025
    Article5 minutes
  14. SAINTS: Manager Insights

    James Dow shares SAINTS' 2024 performance and delves into the trust's dividend history.
    March 2025
    Video9 minutes
  15. SAINTS spotlight: steady amid euphoria

    A focus on diversification and long-term compounders positions the portfolio for the future.
    January 2025
    Article7 minutes
  16. SAINTS: 50 years of dividend growth

    How SAINTS has delivered consistent dividend growth for 50 years.
    October 2024
    Video48 minutes
  17. SAINTS spotlight: turbulence beneath the surface

    Exploring SAINTS' strategic moves in the face of economic shifts and the pursuit of compounding growth.
    September 2024
    Article7 minutes
  18. Novo Nordisk: tipping the scales

    Charting how a century of innovation led to a game-changing weight-loss treatment.
    March 2024
    Article4 minutes
  19. A new recipe for weight loss

    The huge growth potential of Novo Nordisk’s anti-obesity medicines.
    February 2024
    Podcast27 minutes
  20. Albemarle: salt flats and social responsibility

    Why the lithium giant Albemarle engages in research and data monitoring.
    February 2024
    Article4 minutes
  21. SAINTS: the case for dividend growth

    Why we believe pursuing dividend growth rather than yield is the right way to grow capital.
    October 2023
    Article
  22. SAINTS Stewardship Report 2023

    Does engagement make a difference? The SAINTS Team provides its annual update.
    October 2023
    Document
  23. The history of SAINTS

    John Newlands reveals the roots of the SAINTS success story.
    June 2023
    Article
  24. A century and a half of SAINTS

    James Dow reflects on how the trust has changed over the decades, but stuck to its core values.
    May 2023
    Podcast
  25. SAINTS Manager Insights

    SAINTS’ search for stable, long-term compounding in earnings and dividends continues.
    April 2023
    Video12 minutes
  26. A tight ship: lessons from Admiral

    How Henry Engelhardt’s entrepreneurial flair helped create the car insurance giant
    April 2023
    Article
  27. Webinar: the SAINTS approach

    Co-manager James Dow explains why he believes in the Trust’s focus on sustainable compounding.
    March 2023
    Video41 minutes
  28. SAINTS Stewardship Report 2022

    For the year ended March 2022.
    December 2022
    Document
  29. Compound interest: the snowball effect

    Companies reinvesting profits to supply outperformance over decades are the market’s unsung heroes.
    September 2022
    Article
  30. Impact, Ambition and Trust

    If ESG scores are not the answer, how does Global Income Growth Team’s ESG approach measure up?
    May 2022
    Article
  31. Tomorrow’s income aristocrats

    Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.
    June 2020
    Podcast15 minutes
  32. Watsco - a cool investment

    Investment manager Toby Ross discusses recent investment, Watsco.
    Fourth Quarter 2019
    Video0 minute
  33. Should income investors go global

    What are “the good, the bad and the unbelievably great” of global investing? In the second episode of Short Briefings on Long Term Thinking, Malcolm Borthwick is joined by James Dow to challenge the conventional wisdom that if you’re investing for a regular income you should stick with blue chip UK companies.
    February 2019
    Podcast14 minutes

  1. SAINTS spotlight: built for resilience

    In a difficult quarter, it’s important to continue focusing on businesses built for the long term.
    April 2026
    Article4 minutes
  2. SAINTS: Manager Insights

    James Dow shares SAINTS’ 2025 performance and future opportunities for the Trust.
    April 2026
    Video7 minutes
  3. alt=""

    Trip notes: Cleveland, Ohio

    In rust-belt USA, paint and coatings companies are the unsung heroes of growth.
    April 2026
    Article4 minutes
  4. alt="Close up of a ripe dark bramble near ripening red brambles on a leafy branch"

    SAINTS spotlight: patience bears fruit

    AI optimism and rate moves shaped stock markets in 2025, but owning quality businesses matters most long term.
    January 2026
    Article8 minutes
  5. SAINTS: fallen to earth?

    Scottish American Investment Company manager James Dow discusses the trust's quality holdings and long-term growth drivers.
    December 2025
    Video46 minutes
  6. SAINTS spotlight: a ‘wicked learning environment’

    See how we’re finding real value in this challenging learning environment.
    October 2025
    Article5 minutes
  7. SAINTS spotlight: compounders weathering change

    In a changing world, resilient compounders drive SAINTS’ long-term growth despite the market shifts and uncertainty.
    August 2025
    Article5 minutes
  8. SAINTS AGM: presentation to shareholders

    James Dow updates shareholders on the resilience of the trust's dividend and portfolio.
    April 2025
    Video23 minutes
  9. SAINTS spotlight: the role of resilience

    How SAINTS finds light amid tariff restrictions, with European exposure and a resilient portfolio.
    May 2025
    Article7 minutes
  10. SAINTS annual letter

    James Dow reviews another year of inflation-beating dividend growth and explores new ideas for the portfolio.
    April 2025
    Article7 minutes
  11. Atlas Copco: Stock Story

    Ben Drury explores how a culture of innovation and decentralisation drives success in industrial technology.
    March 2025
    Video3 minutes
  12. L'Oréal: Stock Story

    Katie Muir discusses how innovation and a positive culture have fuelled the success of the world’s leading beauty enterprise.
    March 2025
    Video3 minutes
  13. An employee arranges sports shoes at an Anta Sports Products Ltd. flagship store in Shanghai.

    SAINTS: adversity is opportunity

    Finding diverse companies that share a great growth culture.
    March 2025
    Article5 minutes
  14. SAINTS: Manager Insights

    James Dow shares SAINTS' 2024 performance and delves into the trust's dividend history.
    March 2025
    Video9 minutes
  15. SAINTS spotlight: steady amid euphoria

    A focus on diversification and long-term compounders positions the portfolio for the future.
    January 2025
    Article7 minutes
  16. SAINTS: 50 years of dividend growth

    How SAINTS has delivered consistent dividend growth for 50 years.
    October 2024
    Video48 minutes
  17. SAINTS spotlight: turbulence beneath the surface

    Exploring SAINTS' strategic moves in the face of economic shifts and the pursuit of compounding growth.
    September 2024
    Article7 minutes
  18. Novo Nordisk: tipping the scales

    Charting how a century of innovation led to a game-changing weight-loss treatment.
    March 2024
    Article4 minutes
  19. A new recipe for weight loss

    The huge growth potential of Novo Nordisk’s anti-obesity medicines.
    February 2024
    Podcast27 minutes
  20. Albemarle: salt flats and social responsibility

    Why the lithium giant Albemarle engages in research and data monitoring.
    February 2024
    Article4 minutes
  21. SAINTS: the case for dividend growth

    Why we believe pursuing dividend growth rather than yield is the right way to grow capital.
    October 2023
    Article
  22. SAINTS Stewardship Report 2023

    Does engagement make a difference? The SAINTS Team provides its annual update.
    October 2023
    Document
  23. The history of SAINTS

    John Newlands reveals the roots of the SAINTS success story.
    June 2023
    Article
  24. A century and a half of SAINTS

    James Dow reflects on how the trust has changed over the decades, but stuck to its core values.
    May 2023
    Podcast
  25. SAINTS Manager Insights

    SAINTS’ search for stable, long-term compounding in earnings and dividends continues.
    April 2023
    Video12 minutes
  26. A tight ship: lessons from Admiral

    How Henry Engelhardt’s entrepreneurial flair helped create the car insurance giant
    April 2023
    Article
  27. Webinar: the SAINTS approach

    Co-manager James Dow explains why he believes in the Trust’s focus on sustainable compounding.
    March 2023
    Video41 minutes
  28. SAINTS Stewardship Report 2022

    For the year ended March 2022.
    December 2022
    Document
  29. Compound interest: the snowball effect

    Companies reinvesting profits to supply outperformance over decades are the market’s unsung heroes.
    September 2022
    Article
  30. Impact, Ambition and Trust

    If ESG scores are not the answer, how does Global Income Growth Team’s ESG approach measure up?
    May 2022
    Article
  31. Tomorrow’s income aristocrats

    Income investing has been shaken by the coronavirus, but how will this affect the dividend payers of the future? Baillie Gifford investment manager James Dow gives us a glimpse of the potential star performers of tomorrow.
    June 2020
    Podcast15 minutes
  32. Watsco - a cool investment

    Investment manager Toby Ross discusses recent investment, Watsco.
    Fourth Quarter 2019
    Video0 minute
  33. Should income investors go global

    What are “the good, the bad and the unbelievably great” of global investing? In the second episode of Short Briefings on Long Term Thinking, Malcolm Borthwick is joined by James Dow to challenge the conventional wisdom that if you’re investing for a regular income you should stick with blue chip UK companies.
    February 2019
    Podcast14 minutes

Contact us

Still have a question?  Please get in touch with us.

How to buy

You can invest in our funds through a wide range of investment platforms. If your preferred platform does not currently offer our funds, they may be made available upon request by contacting the platform directly.

Further information on our funds can be found in the relevant Key Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request or can be downloaded from the literature section of our website.

Baillie Gifford does not sponsor, maintain, or have any control over the content of any other websites. Therefore, we are not responsible for the adequacy or accuracy of any of the information you may view, nor do we undertake to ensure successful transmission to any linked website.

Contact us

Still have a question?  Please get in touch with us.

AGM and voting

When you invest in an investment trust you become a shareholder and have a say on how the Company is run.  You also have a right to attend the Company's annual general meeting (AGM).

How to vote

The following link will take you through to The Association of Investment Trusts' (AIC) website where there is information on how to vote your shares if you hold them via one of the major platforms.

How to attend the AGM

If you hold your shares through a platform, it is not always obvious how to attend an AGM. The following link will take you through to The Association of Investment Trusts’ (AIC) website where there is information on how your platform can help you attend this important shareholder meeting.  If you do not see your provider listed, please contact your provider directly and ask them to assist.

SAINTS corporate calendar

Our corporate calendar provides details of the regulatory events that occur over the year. This includes dates for reports, results, dividend payments and the AGM.

Event Month (each year)
Final results announced February
Interim results announced August
Financial year end date 31 December
Annual general meeting April
Dividends payable April, June, September, December

AGM

SAINTS annual general meeting (AGM) was held on Tuesday 8 April 2025. You can read a summary of the results of the voting on AGM resolutions here.

View latest results

Voting

A breakdown of the votes cast by Baillie Gifford over the previous quarter on behalf of the investment trust is available in the Proxy voting disclosure.

Registrar

Computershare Investor Services PLC maintains the share register on behalf of the Company. Queries regarding shares registered in your own name can be directed to:

Computershare Investor Service PLC, 
The Pavilions,
Bridgwater Road,
Bristol,
BS99 6ZZ

T: +44 (0)370 707 1282

Contact us

Still have a question?  Please get in touch with us.

Documents

You can access any literature about the Fund here.

To download any document you will need Adobe Reader. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. It may take up to 10 days for the transcription to be completed dependent on the size of the document.

Contact us

Still have a question?  Please get in touch with us.