1,077.00p. They can also help keep track of all your different investment interests, saving you a lot of time and bookkeeping. appeared first on The Motley Fool UK. Sentiment in the market exaggerates the peaks and troughs, driving price volatility that is commonly mistaken for risk. star-filled star-filled star-filled star-filled star-filled. IFA Magazine – for today’s discerning financial and investment professional. Formerly the Chairman of Intermediate Capital Group plc he is currently a Deputy Chairman of The Takeover Panel, the Chairman of Melrose Industries plc and a non-executive director of a number of private companies. In 2003, James also co-founded our Long Term Global Growth Strategy. Returns are concentrated in a handful of big winners. Carlota Perez, British-Venezuelan researcher, lecturer and international consultant, presents on the paradigm shifts she observes in historical technological revolutions and what these shifts could mean for the future. It is still our largest holding even though we sold over 40% of our shares during the period (raising £1.18bn) to ensure that the portfolio has an appropriate level of diversification. that we can add much more than anyone else in the short term. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by FT and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. Growing in importance, penetration and acceptance, telemedicine will revolutionise and augment Asia’s healthcare systems. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. If you are having any problems accessing your online account, please contact our dedicated digital service team at, You can read details of our Legal and Important Information here. To download any document you will need Adobe Reader. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund. He qualified as a chartered accountant at Price Waterhouse in 1980. The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. Scottish Mortgage is considered to be Baillie Gifford’s flagship investment trust and indeed, it’s the largest investment trust in the UK. He has served on the staff of a Presidential Commission and is the author of many publications on topics such as entrepreneurship, corporate governance, globalisation and medical innovation. Information on the range of funds available through platforms can be found in our Platform Matrix. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. View recent trades and share price information for Scottish Mortgage Investment Trust plc and other shares. Amar Bhidé is a distinguished writer and academic. Any information that you receive via FT.com is at best delayed intraday data and not "real time". 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. This becomes more important as our views on the platform companies are less differentiated than was once the case. Published ten times a year, IFA Magazine has been winning a keen and enthusiastic following among Britain’s premier financial advisers, planners and paraplanners. They have breakthroughs and they have setbacks. When we believe we have identified an exceptional company that is pursuing a large opportunity, we look beyond this cycle of feast and famine. Amar is a graduate of Harvard Business School. A clear lesson from this year’s events is that we should treat confident pronouncements about the future with scepticism. Further information on our funds can be found in the relevant Key Investor Information and Prospectus Documents, which are available in English and will be sent to you free of charge on request. Please note that we can now provide you with Braille and audio transcriptions of our literature on request. Such opportunities remain plentiful. The major part of the portfolio will be held in quoted equities with good liquidity. We don't see The increase in Tesla’s stock price and its dramatic impact on the Trust’s returns should be seen in context. The long-term profitability of Wayfair’s business model has been hotly debated and the demonstration of a clear ability to make money is much more important for the company’s value than a temporary spike in demand. Whilst our focus is on the generation of long-term increases in capital values, we recognise that a small but consistent dividend is of value to many investors. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. SIT Savings Limited, a company registered in Scotland (number SC091859) with its registered office at … Investors in the country’s largest investment trust, Scottish Mortgage, have had a stellar ride, but last week’s big sell-off could be a sign of things to come. The examples of Wayfair, Delivery Hero and Meituan serve to illustrate the growing number of opportunities we have to invest in digital businesses of scale beyond the giant western platforms. proposed changes to investment policy - 2016, Scottish Mortgage Annual Report - including the Notice of AGM - March 2015, Scottish Mortgage Annual Report - March 2014, Scottish Mortgage Annual Report - including the Notice of AGM - March 2013, Scottish Mortgage Annual Report - including the Notice of AGM - March 2012, Scottish Mortgage Annual Report - including the Notice of AGM - March 2011, Scottish Mortgage Report of the Annual General Meeting, Scottish Mortgage Nomination Committee Terms of Reference, Scottish Mortgage Audit Committee Terms of Reference, Scottish Mortgage Interim Financial Report - September 2019, Scottish Mortgage Interim Financial Report - September 2018, Scottish Mortgage Interim Financial Report - September 2017, Scottish Mortgage Interim Financial Report - September 2016, Scottish Mortgage Interim Financial Report - September 2015, Scottish Mortgage Half-Yearly Financial Report - September 2014, Scottish Mortgage Half-Yearly Financial Report - September 2013, Scottish Mortgage Half-Yearly Financial Report - September 2012, Scottish Mortgage Half-Yearly Financial Report - September 2011, Scottish Mortgage Half-Yearly Financial Report - September 2010, Scottish Mortgage Investor Disclosure Document, Scottish Mortgage Key Information Document, Notice of Adjourned Meeting - 6.875% per cent Debenture Stock 2023, Notice of Adjourned Meetings - 4.5% Irredeemable Debenture Stock, 8-14% Stepped Interest Debenture Stock 2020 and 6-12% Stepped interest Debenture Stock 2026, Scottish Mortgage Preliminary Annual Results Announcement - March 2020, You can read details of our Legal and Important Information here. James graduated BA in History from the University of Oxford and after postgraduate study in Italy and Canada he gained an MA in International Affairs in 1982. She is the author of The Cost of Free Money (Yale University Press, 2020). This website does not contain any personal recommendations for a particular course of action, service or product. The Trust charges 100% of the investment management fee and 100% of borrowing costs to capital which reduces the capital value. Scottish Mortgage Investment Trust Plc – Results for the six months to 30 September 2020. Is now a good time to invest? If the Trust's investments fall in value, any invested borrowings will increase the amount of this loss. **Relative to FTSE All-World Index. 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. High Court clarifies rules for pension scam victims payout, Internet healthcare – a reset of healthcare delivery in Asia, M&G Positive Impact Fund: Q&A with Ben Constable-Maxwell, People Behind the Product: Pippa Gawley, Zero Carbon Capital, People Behind the Product: Matthew Steiner, Stellar Asset Management, People Behind the Product: Ewan Lloyd-Baker, Seismic Venture Partners, People Behind the Product: Scott Weavers-Wright, Haatch Ventures, People Behind the Product: Andrew Aldridge, Deepbridge, People Behind the Product: Paul Miller, Bethnal Green Ventures. The information in this area of the website is intended for personal investors within the United Kingdom only. Of course, we realise there are occasions when you may want the advice of an expert. “FTSE®" and “Russell®” are trade marks of the relevant LSE Group companies and are used by any other LSE Group company under license. We look to add value over five year time frames, preferably much longer. Edward Sheldon looks at the investment case. Change. They have breakthroughs and they have setbacks. The fund invests in growth stocks of companies. “While legal challenges are underway, the Associated Press on Saturday called Pennsylvania for Joe Biden, which would push him past the 270 Electoral Count threshold. The maximum amount which may be invested in companies not listed on a public market shall not exceed 30 per cent of the total assets of the Company, measured at the time of purchase. Demand for its products is strong and the response from its traditional competitors remains muted. The fund is co-managed by Baillie Gifford & Co. He graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000. By clicking on Individual Investor, you have confirmed that you are based in the United Kingdom and that you meet the following requirements. She is also a nonexecutive director of Dixons Carphone plc, Direct Line Insurance Group plc and Monzo Bank Limited. The Company aims to achieve a greater return than the FTSE All-World Index (in sterling terms) over a five year rolling period or longer. Regulatory news announcements which are released to the London Stock Exchange can be accessed via their service. He was elected a Fellow of the Academy of Medical Sciences in 2005. Where these charges do exist they are included within the variable ongoing costs in the, Additional benefits for larger portfolios, Doing Business with Fidelity document (incorporating the Fidelity Client Terms). After serving as Deputy Manager for five years, Tom was appointed Joint Manager of Scottish Mortgage Investment Trust in 2015.