Scottish Mortgage Investment Trust PLC is an actively managed, low-cost investment trust, investing in a high-conviction global portfolio of companies, with the aim of maximising total returns over the long term. The managers look for strong businesses with above-average returns and aim to achieve a greater return than the FTSE All-World Index (in sterling terms) over a five-year rolling period.

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Deliberately different in more ways than one. Discover our investment philosophy and learn how we differentiate ourselves from the rest.

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The future. Be there first. Invest in progress.

The Company's latest annual report, to end March 2025 is now available.

Annual report

An executive summary of the Company’s annual report.&nbsp;

Scottish Mortgage Portfolio Executive Summary

Annual Report Portfolio Executive Summary

Periods of rapid change are uncomfortable, but often rich with opportunity. Tom Slater explains.

Periods of rapid change are often uncomfortable, but they are also rich with opportunity.

Tom Slater: Manager Review

Manager insights: Tom Slater

What are the characteristics of a true outlier company? Lawrence Burns shares his view.

What are the characteristics of a true outlier company? Lawrence Burns shares his view. 

Lawrence Burns: Manager Review

Manager insights: Lawrence Burns

At Scottish Mortgage, our purpose is simple. Maximise total returns over the long term. To do that, we aim to own the world’s most exceptional public and private growth companies. And we utilise our investment trust structure to limit fees so that shareholders keep more of any returns generated. Explore this website to discover what we mean by ‘Invest in Progress’, how we find and support the companies shaping the future, and how you can be a part of it. A good place to start is our Philosophy page.

What better way to learn about the companies we hold than by hearing from the founders themselves?
Listen to our podcast Invest in Progress, in which our managers welcome the leaders of some of the world’s most exciting growth companies.

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In uncertain times, companies that display resilience and capital efficiency will be rewarded.

In uncertain times, companies that display resilience and capital efficiency will be rewarded, says Tom Slater.

Manager Insights: Tom Slater

How the expertise of leaders at Meta, Shopify, Roblox and Spotify's expertise helps them put AI to use.

How the leaders of Meta, Shopify, Roblox and Spotify’s expertise helps them put AI to use.

Why technical leaders have the advantage in the AI era 

Why Technical Leaders Have an Advantage

Observations on recent volatility, a deep dive into two key long-term growth trends, and latest transactions.&nbsp;&nbsp;

Investment Specialist Hamish Maxwell on recent volatility, latest portfolio transactions, and a deep dive on two key long-term growth trends prominent in the portfolio.


Portfolio Update Q1 2025

Q1 Portfolio Update

Why owning public and private companies in one fund is a unique proposition.

On why owning public and private companies in one fund is a unique proposition. Plus updates on SpaceX, Northvolt, blockchain.com and more. 

Private Companies: Primary Capital is Purposeful Capital

Source: Morningstar. Share prices are shown at closing mid price. NAVs are estimated. *Ongoing charges as at 31 March 2024. Calculated in accordance with AIC recommendations. Details of these costs can be found in the Key Information Document.

Scottish Mortgage AGM Proxy Results

Past performance is not a guide to future returns. **Relative to FTSE All-World Index. Source: Baillie Gifford &amp; Co, FTSE.

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Investment trusts are UK public companies and are not authorised and regulated by the Financial Conduct Authority. You may not get back the amount invested and please bear in mind that past performance is not a guide to future performance.

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Baillie Gifford &amp; Co Limited is authorised and regulated by the Financial Conduct Authority. Baillie Gifford &amp; Co Limited is an authorised Alternative Investment Fund Manager and Company Secretary of investment trusts.
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The future.
Be there first.
Invest in progress.

Latest news

Annual report

Annual Report Portfolio Executive Summary

Manager insights: Tom Slater

Manager insights: Lawrence Burns

Our Purpose

The Invest in Progress Podcast

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Insights

Manager Insights: Tom Slater

Why Technical Leaders Have an Advantage

Q1 Portfolio Update

Private Companies: Primary Capital is Purposeful Capital

Invest now

The future. Be there first. Invest in progress.

Latest news

Annual report

Annual Report Portfolio Executive Summary

Manager insights: Tom Slater

Manager insights: Lawrence Burns

Our Purpose

The Invest in Progress Podcast

Sign up to emails

Insights

Manager Insights: Tom Slater

Why Technical Leaders Have an Advantage

Q1 Portfolio Update

Private Companies: Primary Capital is Purposeful Capital

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Key information

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The future.
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Invest in progress.