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SCOTTISH MORTGAGE INVESTMENT TRUST
GARTNER’S HYPE CYCLE
Peak of inflated
expectations
e
lop
l
en
Plateau
of productivity
S
Innovation
trigger
SCOTTISH MORTGAGE
ENTERED THE
FTSE 100 INDEX IN
MARCH 2017.
of
n
te
igh
t
n
me
Trough
of disillusionment
Time
Source: Gartner, Sarasin & Partners
WANTED. DREAMERS, VISIONARIES
AND REVOLUTIONARIES.
Visionary entrepreneurs offer opportunities for great wealth creation. The Scottish Mortgage Investment Trust
actively seeks them out.
Our portfolio consists of around 80 of what we believe are the most exciting companies in the world today. Our vision
is long term and we invest with no limits on geographical or sector exposure.
Our track record as long-term, supportive shareholders makes us attractive to a new breed of capital-light businesses.
And our committed approach means we can enjoy a better quality of dialogue with management teams at transformational
organisations. Over the last five years the Scottish Mortgage Investment Trust has delivered a total return of 124.7%
compared to 101.9% for the sector*. And Scottish Mortgage is low-cost with an ongoing charges figure of just 0.37%**.
Standardised past performance to 30 September*
2015 2016 2017 2018 2019
Scottish Mortgage 4.2% 37.0% 30.3% 29.0% -6.4%
AIC Global Sector Average 4.3% 29.0% 26.2% 19.2% -0.2%
Past performance is not a guide to future returns.
Please remember that changing stock market conditions and currency
exchange rates will affect the value of the investment in the fund and
any income from it. Investors may not get back the amount invested.
For a farsighted approach call 0800 917 2112
or visit us at www.scottishmortgageit.com
A Key Information Document is available by contacting us.
Long-term investment partners
*Source: Morningstar, share price, total return as at 30.09.19. **Ongoing charges as at 31.03.19 calculated in accordance with AIC recommendations.
Details of other costs can be found in the Key Information Document. Your call may be recorded for training or monitoring purposes. Issued and approved
by Baillie Gifford & Co Limited, whose registered address is at Calton Square, 1 Greenside Row, Edinburgh, EH1 3AN, United Kingdom. Baillie Gifford &
Co Limited is the authorised Alternative Investment Fund Manager and Company Secretary of the Company. 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 UK companies and are not
authorised and regulated by the Financial Conduct Authority.
The products and developments underpinning a fad or a
bubble may end up doing everything they claim to, and
more – yet still prove to be ruinous investments
others – and these gains would only
have been realised if you were brave
Yet one of the issues with this
enough to hold on as the market
statement is that the products and
crashed, with Jeff Bezos’s firm losing
developments underpinning a fad or a more than 90 per cent of its value in
bubble may end up doing everything the early 2000s.
they claim to, and more – yet still
Stephen Bailey, manager of the
prove to be ruinous investments.
Liontrust Macro Equity Income
For example, the internet did end
fund, says bubbles are driven more
up changing the world over the past
by emotion than the investment
two decades, which was the theory
case, which is why it is important to
behind the dotcom bubble. Yet you
take a step back and look at things
would only have made money from
objectively. For example, he points
this theme had you had the foresight
to invest in Amazon and a handful of
trustnet.com