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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Impressive half year results on 2 November have helped to put our positive call on leading investment trust Scottish Mortgage (SMT) off to a steady start.
The trust’s net asset value increased by 19% in the six months to 30 September compared with an 11.4% gain for its FTSE All-World Index benchmark.
This period does not encompass the recent stock market correction when Scottish Mortgage was hit thanks to its exposure to growth stocks and, in particular, US technology businesses.
If, as the managers point out, six months is too short a time over which to measure their success then a matter of weeks certainly is.
By sticking to a consistent approach of investing in both public and private firms with the potential to grow substantially on a five or 10-year view the trust has delivered an average annual return for its shareholders of 23% over the last decade.
The latest financial results also demonstrated the advantage of being able to invest in unquoted firms. Since June 2010 when it made its first investment in a private company, these unquoted firms have delivered a total return of 419%.
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
The value of your investments can go down as well as up and you may get back less than you originally invested. We don't offer advice, so it's important you understand the risks, if you're unsure please consult a suitably qualified financial adviser. Tax treatment depends on your individual circumstances and rules may change. Past performance is not a guide to future performance and some investments need to be held for the long term.