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ii Super 60 - Scottish Mortgage IT

ii Super 60 investments:
Scottish Mortgage IT

Asset Group Asset Sub-Group Investment Category
Equities Global equities Adventurous

Selection rationale:
Scottish Mortgage is a FTSE 100 company and by far the largest investment trust. It is a flag-bearer for Baillie Gifford’s recent campaign to promote ‘actual’ investing – deploying cash into tangible, sustainable activities that allow companies to grow and prosper. ‘Actual’ investment requires a willingness to be different, to accept uncertainty and the possibility of being wrong, the fund management group says.

James Anderson has run this trust since 2000, with Tom Slater becoming co-manager in 2014. Anderson is a long-term believer in the power of technology and fiercely committed to running a high conviction portfolio of companies that will change the world. The trust has a diversified range of holdings, but does take significant stock bets by investing heavily in companies it likes.

He warns that such an approach can result in periods of underperformance but expects to be judged over at least five and preferably 10 years. Over ten years, the trust’s performance is exceptional, returning more than three times the FTSE All-World index.

The duo believes that many of the most exciting companies now wait until their fastest growth period is over before seeking a stock market listing. They can invest up to a quarter of assets in unquoted companies, though it is typically less than this.

Economies of scale have seen the trust’s ongoing charges fall. Its shares can trade at a small premium to net asset value, but the board issues new shares to reduce this.

Last year it claimed the title of Money Observer’s Best Global Growth Trust for the fourth year running.

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The information we provide in the Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. None of the opinions provided are a “personal recommendation”, therefore you should ensure that any investment decisions you make are suitable for your personal circumstances. Past performance of the underlying constituents is not a guarantee of future performance. Remember, the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.

Risk warnings

Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. 

Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab. 

The information we provide in the ii Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. Please note that none of the opinions we provide are a “personal recommendation”, which means that we have not assessed your investing knowledge and experience, your financial situation or your investment objectives. Therefore you should ensure that any investment decisions you make are suitable for your personal circumstances.

If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor. 

Any changes to the ii Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.

Details of all recommendations issued by ii during the previous 12 month period can be found here.

ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii Super 60 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.

In addition, staff involved in the production of this ii Super 60 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii Super 60 investments list.