Our Philosophy
Scottish Mortgage is a liquid and low-cost portfolio aiming to invest in the world's most exceptional public and private growth companies.
Despite our historical name, our pursuit is not in real estate or mortgages, but in exceptional global growth.
For over a century, Scottish Mortgage Investment Trust has been dedicated to a singular mission: to generate excellent returns for our shareholders.
To do that, we aim to find exceptional growth companies, whether public or private, wherever they are in the world, and hold them over the long term.
Seeking Outliers
Research shows that only a small number of companies make investing in the stock market worthwhile. These companies are outliers that exploit the asymmetric pay-off structure of equities: uncapped upside yet bounded downside. Our core task is to find and invest in companies that have sufficient opportunity to deliver such outlying returns over the long term.
This investing style comes with a tolerance for volatility as progress is rarely in a straight line. We are extremely comfortable with the fact that the biggest outliers are often the most volatile.
Putting this into practice, over the last 10 years, the returns we've generated for shareholders when we've got it right have more than made up for what we've lost when we've got it wrong.
Exposure to Transformational Growth Themes
As a result of our search for outliers, the portfolio is exposed to a variety of growth themes.
The innovation taking place in these areas is led by visionary management teams who we form long-standing relationships with due to our reputation of being long-term, supportive investors.
The key themes emerging from our bottom-up stock picking style are cloud and AI infrastructure, the digitalisation of finance, the evolution of transport and healthcare innovation to name a few.
Access to Private Companies
Our rationale for investing in private companies is simple – companies are staying private for longer, meaning more value is being created prior to companies entering the public markets.
We seek to own companies uninterrupted on their journey from private to public by partnering with great growth companies at all stages. This provides our shareholders maximum exposure to growth but at a much lower cost than most private equity funds.
Globally Unconstrained
Our approach is globally unconstrained, allowing us to invest in exceptional growth companies worldwide. This flexibility helps us build a diversified portfolio of exceptional growth companies in every corner of the globe - from Southeast Asia and the US, to Europe and Latin America.
Long-Term History and Distinctiveness
Baillie Gifford is the long-standing investment manager of Scottish Mortgage, having managed the trust since its inception in 1909. This collaboration and sustained focus on the long term has delivered strong returns for our shareholders over the long run, making it one of the UK's largest and most respected investment trusts.
Our Structure
As a closed-end investment trust, we are protected from cash-flow pressures, allowing us to focus on long-term investments. We manage our share price actively and employ modest gearing to enhance returns. With low fees and high liquidity, we ensure our investors retain more of any returns generated. Find out more in our Explainers section.
Important information
Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
The information on this Website is issued by Baillie Gifford Asia (Hong Kong) Limited
柏基亞洲(香港)有限公司 (the “Company”) which is licensed by the Securities and Futures Commission of Hong Kong (the “SFC”) under the Securities and Futures Ordinance (“SFO”) for Type 1 (Dealing in Securities) regulated activity with CE Number BGB803. It allows the Company to market and distribute the Baillie Gifford’s range of collective investment schemes and closed-ended funds such as investment trusts to Professional Investors (as defined by the SFO) in Hong Kong.
The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. Nothing in this information or elsewhere in this website shall exclude, limit or restrict our duties and liabilities to you under the SFO or any conduct of business rules which we are bound to comply with. The information on this website has not been reviewed by the SFC. These Terms and any non-contractual obligations arising from or connected with them shall be governed by, and these Terms shall be construed in accordance with, the laws of Hong Kong.
This website is informative only and the information provided should not be considered as investment or other advice or a recommendation or offer to buy, sell or hold a particular investment. You can read details of our Legal and Important Information here. Please remember that all investment strategies have the potential for profit and loss and your or your clients’ capital may be at risk.
This website does not collect personal information. "Cookies" may be stored on your computer for easy navigation. A "cookie" does not allow us to identify you, but stores information about navigation through our website (such as pages already visited, time and date of visit) which we can remember during the user's next visit to our website in order to improve your browsing experience. If you have any enquiries in relation to our data protection policies and procedures, this Website or the information on it, please click here to contact Baillie Gifford.
Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 is incorporated in Hong Kong. The Company’s principal place of business is Suites 2713-2715 Two International Finance Centre, 8 Finance Street, Central, Hong Kong . Baillie Gifford Asia (Hong Kong) Limited 柏基亞洲(香港)有限公司 is a wholly owned subsidiary of Baillie Gifford Overseas Limited, which is wholly owned by Baillie Gifford & Co. Baillie Gifford Overseas Limited and Baillie Gifford & Co are authorised and regulated in the UK by the Financial Conduct Authority.
