The History of Scottish Mortgage Investment Trust.
Launched in 1909 amid the rubber boom fuelled by soaring demand for tyres, Scottish Mortgage is now the UK’s largest investment trust. John Newlands tells its story.
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Please remember that the value of the investment can fall and you may not get back the amount invested. Past performance is not a guide to future returns.
The views expressed should not be taken as fact and no reliance should be placed upon these when making investment decisions. They should not be considered as advice or a recommendation to buy, sell or hold a particular investment. If you are unsure whether an investment is right for you, please contact an authorised intermediary for advice.
This article was produced and approved in November 2021 and has not been updated subsequently. It represents views held at the time of recording and may not reflect current thinking.
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.
The Trust invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.
The Trust has a significant investment in private companies. The Trust's risk could be increased as these assets may be more difficult to buy or sell, so changes in their prices may be greater.
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.
Market values for securities which have become 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.
The Trust can make use of derivatives which may impact on its performance.
The Trust is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority.
Baillie Gifford & Co Limited is authorised and regulated by the Financial Conduct Authority (FCA). The investment trusts managed by Baillie Gifford & Co Limited are listed on the London Stock Exchange and are not authorised or regulated by the FCA.
For a Key Information Document for the Scottish Mortgage Investment Trust, please visit our website at www.bailliegifford.com
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