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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Tom Slater on why investing in the agents of change trumps reacting to short-term headwinds.

With technology transforming industries at a rapid pace, Scottish Mortgage invests in the companies driving change.

Futureproof: investing in progress | Scottish Mortgage

In it for the future: investing in progress

Busting three myths that could alter your view about what private company investing is.

ByteDance and Northvolt dispel the myth that private company investing involves high-risk, early seed-stage companies.

The myths of private company investing | Scottish Mortgage

What are the myths of private company investing?

Tom Slater explains how companies create value and power progress by combining earlier innovations.

Innovators build on past discoveries, which companies then combine in novel ways to create value and power progress.

Innovation powers progress and growth | Scottish Mortgage

Innovation and growth march to their own drumbeat

Lawrence Burns reports back following his recent trip to China.

China continues to exhibit extraordinary potential in EVs and other key future industries.

China: pace setters on electric vehicles | Scottish Mortgage 

Why China’s edge in key industries looks set to last

From an IPO to $10bn of gross merchandise value a month, the latest news on portfolio holdings.

An update on Scottish Mortgage holdings making the news – Climeworks, ODDITY, MercadoLibre, Delivery Hero and Pinduoduo.

Perspectives on progress #6 | Scottish Mortgage

Perspectives on Progress #6

Discover what private company investing is, and why our decades of institutional knowledge of exceptional growth companies gives us an advantage.

Others may call it private equity, seed investing, etc. Discover why it’s private company.

What is private company investing?

What is private company investing? And why do we do it?

Charting rising cross-border money payments and the opportunity for remittance service Wise.

Remittance service Wise is poised to benefit from the growing amount of money workers send overseas to dependents.

Cross-border money transfers and Wise | Scottish Mortgage

The rise of cross-border money transfers

MercadoLibre offers hope to Latin America’s 178 million unbanked population.

Latin America has a large unbanked population, 178 million, that ecommerce platform MercadoLibre hopes to address.

MercadoLibre: Latin America’s unbanked | Scottish Mortgage

Visualised: Latin America’s unbanked population

Low-orbit satellites could be the answer for the three billion unable to access the internet.

From Chad to Burkina Faso, where conventional internet providers can’t reach those offline, SpaceX subsidiary Starlink provides access.

Starlink: internet for mobile dead zones | Scottish Mortgage

Starlink: providing internet for mobile dead zones

From Affirm’s tie-up with Amazon to UPSIDE Foods’ cultivated meat on Michelin star menus, get the latest news on the companies in our portfolio.

Smartphone with website of US financial technology company Affirm Holdings Inc on screen with logo

From Affirm’s buy now, pay later tie-up with Amazon to UPSIDE Food’s cultured meat featuring in a renowned chef’s menu.

Perspectives on Progress #5  | Scottish Mortgage

Perspectives on Progress #5

The Scottish Mortgage managers on recent performance, private company investing, and where they’re looking for the ‘next big thing’.

Scottish Mortgage managers answer your questions and discuss performance, opportunities and private company investing.

June forum: why we’re backing innovation | Scottish Mortgage

Scottish Mortgage forum: why we continue to back innovation

Climeworks, the company using innovative technology to capture and store CO2 underground safely, measurably and permanently.

Climeworks leads the way in direct air capture, its technology removing greenhouse gas emissions from the atmosphere.

Stock stories: Climeworks | Scottish Mortgage

Stock stories: Climeworks

Yesterday’s safety is tomorrow’s capital destruction, says Tom Slater.

From BYD to Geely, Tom Slater on why Scottish Mortgage should back the companies, entrepreneurs and innovation it does.

Embracing discomfort: manager insights | Scottish Mortgage

Embracing discomfort: manager insights

Lawrence Burns shares the four biggest reasons Scottish Mortgage takes stakes in private firms.

Scottish Mortgage’s deputy manager explains the four biggest reasons the Trust invests in unlisted firms.

Private companies: the case for investing | Scottish Mortgage

Investing in private companies: manager insights

Forget the hype. Our thoughts on artificial intelligence have been forming over decades, not days.

OpenAI’s ChatGPT marks a new era in artificial intelligence, which Scottish Mortgage has been thinking about for years.

Investing in artificial intelligence | Scottish Mortgage

All in good time: investing in artificial intelligence

From data lakes to Databricks, cloud storage will be key to driving progress and future innovation.

The atmospheric rise of cloud computing

Could farmers hold the key to carbon removal? Indigo Agriculture may just have the answer.

By storing carbon in the soil, Indigo Agriculture makes growing crops more profitable and environmentally friendly.

Stock stories: Indigo Agriculture | Scottish Mortgage

Stock stories: Indigo Agriculture

The future never looked closer, thanks to Scottish Mortgage-backed companies.

From Tesla’s Model Y to Zipline’s teleportation products, innovations by companies held by Scottish Mortgage are creating a better future.

Perspectives on Progress #4 | Scottish Mortgage 

Perspectives on Progress #4

Lawrence Burns reflects on the value that can be generated by investing in private companies.

Scottish Mortgage joint manager, Lawrence Burns explains why investing in private companies is more important than ever.

A decade of private company investing | Scottish Mortgage

Reflecting on a decade of private company investing

An overview of the Scottish Mortgage webinar that addressed the questions on investors’ minds.

An overview of the recent Scottish Mortgage webinar that answers the questions put to it by Scottish Mortgage investors.

Scottish Mortgage webinar overview

Investor webinar: written overview

The way meat gets onto our plates is unpalatable for many. UPSIDE Foods plans to change that.

Can chicken leave a good taste in the mouth for vegans? UPSIDE Foods thinks so if it’s grown from animal cells.

UPSIDE Foods: why its vegan founder is championing meat | Scottish Mortgage

UPSIDE Foods: why its vegan founder is championing meat

The mRNA technology behind the Covid vaccine is being directed against other diseases.

Why the Covid vaccine was just the start for the disease-busting technology.

Moderna’s mRNA healthcare revolution

From Covid to cancer: Moderna’s new challenge

Tom Slater on looking beyond tough times to future opportunities.

Throughout its history the Trust has looked beyond the surrounding gloom to long-term opportunities.

Scottish Mortgage: success in adversity

Scottish Mortgage: looking beyond tough times to future opportunities

The company making real meat without harming animals.

Uma Valeti, UPSIDE Foods’ founder, tells Scottish Mortgage about his plans to put cultivated meat on the public’s plates.

UPSIDE Foods: real meat, no slaughter | Scottish Mortgage

UPSIDE Foods: real meat, no slaughter

Tom Slater and Lawrence Burns answer the questions on shareholders’ minds.

Tom Slater and Lawrence Burns answer the questions on Scottish Mortgage shareholders’ minds.

Scottish Mortgage Investor Webinar | Scottish Mortgage 

Scottish Mortgage Investor Webinar: your questions answered

Scottish Mortgage holdings are not sitting back and waiting for the future, they’re shaping it.

Amazon CEO Andy Jassy is taking the company in a new direction. But where are other Scottish Mortgage holdings heading?

Perspectives on Progress #3 | Scottish Mortgage 

Perspectives on Progress #3

How Recursion Pharmaceuticals is using AI to turn the hunt for new medicines on its head.

Turning the hunt for new drugs on its head by simulating tests of thousands of new compounds before forming a hypothesis.

Recursion: developing drugs with AI | Scottish Mortgage 

Recursion Pharmaceuticals: finding new drugs using data science

We’ve only scraped the surface of biology and chemistry. To go deeper, we need help from AI.

Drug discovery rarely works, there are too many unknowns. But Recursion’s ability to handle big data could solve that.

Recursion: where biology meets technology | Scottish Mortgage

Recursion: where biology meets technology

The UK firm partnering with leading grocers to deploy its automated warehouses worldwide.

The British firm is partnering with some of the globe’s leading grocers to deploy its automated warehouses worldwide.

Ocado’s robot retail revolution

Why the online groceries firm’s use of AI and robotics makes it a tasty investment.

The online groceries firm’s CEO explains how AI and robotics can improve delivery in this Scottish Mortgage podcast.

Invest in Progress: Ocado | Scottish Mortgage

Ocado: when retail meets robotics

Developing brain disease drugs is hard, but this company’s early results suggest it can succeed.

Developing brain disease treatment is difficult. CEO Ryan Watts tells Scottish Mortgage’s Tom Slater why Denali can succeed.

Denali Therapeutics: rising to the challenge of brain disease | Scottish Mortgage

Denali Therapeutics: rising to the challenge of brain disease

Why this biotech company may succeed where big pharma has failed in tackling diseases of the brain.

In this Scottish Mortgage podcast, CEO Ryan Watts tells Tom Slater about fighting Alzheimer’s and other brain diseases.

Denali: defeating degenerative diseases | Scottish Mortgage 

Denali: defeating degenerative diseases

Seldom do we see so much progress in one year. Scottish Mortgage companies making giant leaps.

Beyond Meat, Northvolt, nuclear fusion and cancer vaccines: Scottish Mortgage’s Tom Slater and Lawrence Burns on progress

January forum write up | Scottish Mortgage

Trust in Progress: January forum write up

The giant ecommerce platform providing financial services to customers without bank accounts.

From ecommerce to digital banking, MercadoLibre wants to get Latin America’s 650 million citizens online.

How MercadoLibre iterates to innovate | Scottish Mortgage

MercadoLibre: bridging the digital divide

MercadoLibre discusses growing its huge marketplace and filling a gap in financial services.

Learn about the giant marketplace outselling Amazon in many parts of the Americas.

Invest in Progress: MercadoLibre | Scottish Mortgage

MercadoLibre: Latin America’s ecommerce champion

Author Matthew Ball on the next-generation internet and the companies building its foundations.

What will the next-generation internet offer and which companies are most likely to hasten its arrival?

The metaverse: Matthew Ball explains all

Making sense of the metaverse: an interview with Matthew Ball

Zipline drones deliver. The lifesaving technology that makes instant delivery within reach.

Drones save lives. Zipline’s instant delivery paradigm is the world’s first autonomous, on-demand logistics system

Zipline: anytime, anywhere drone delivery | Scottish Mortgage

Zipline: drones taking flight to save lives

Meet the robotics pioneer with a vision of a faster, greener way to deliver medical supplies and groceries.

Zipline proved that drone-delivered medical supplies could save lives in Africa, but the technology’s potential is vastly wider than that.

Zipline’s drone-led logistics revolution | Scottish Mortgage

Zipline’s drones: delivering the future

Do cultivated meat or personalised cancer vaccines seem far-fetched? Recent developments say no.

Personalised cancer vaccines (Moderna) and cultivated meat (UPSIDE Foods) have both taken a big leap forward.

Perspectives on Progress | Scottish Mortgage

Perspectives on progress #2

Tom Slater on Bloomberg’s Merryn Talks Money podcast. Capital at risk.

The price of making money

Tom Slater delivers the interim management report.

Interim Management Report | Scottish Mortgage

Interim Management Report

Read The Scottish Mortgage Team’s first issue of Perspectives on Progress, a newsletter about what’s happening in the world today.

From Ginkgo Bioworks to Joby Aviation, Scottish Mortgage invests in companies through the highs and lows of progress.

Perspectives on progress | Scottish Mortgage

Perspectives on Progress #1

Tom Slater and Lawrence Burns discuss portfolio performance, China, and the future outlook.

Tom Slater and Lawrence Burns discuss three topics on shareholders’ minds – portfolio performance, China, and the future outlook. 

Scottish Mortgage Manager Update 

An update from the managers

Powering your online shopping experience is hidden technology that delivers your every need.

It’s not the retailer that promises the most but those that deliver the most value and customer service that succeed.

Delivering the retailer of the future | Scottish Mortgage

The future of commerce – enabling robots to deliver a helping hand

Without energy, our society could not function. How do we ensure that the lights do not go out?

What do electrification, microbes and raw materials have in common? They will all play a part in the future of energy.

Why clean energy is the future of energy | Scottish Mortgage

The future of energy – power forward carbon free

You would not say Amazon was only a bookshop, so why limit Moderna and Illumina to Covid-19?

A blood test that detects cancers before symptoms appear? Just one of many advances shaping the future of healthcare.

The future of healthcare from Ginkgo Bioworks to Moderna | Scottish Mortgage

The future of healthcare – putting technology at the heart of biology

What will you do with an extra hour per day? That’s the time riding by flying taxi could save.

From electric vehicles to flying taxis, how we get from A to B is set to radically change.

Nuro, Joby and the future of transport | Scottish Mortgage

The future of transport – the possibilities are electrifying

Battery recycling is key to EV use and tackling climate change, so we invest in companies rising to the challenge.

Battery recycling is key to electric vehicle use and tackling climate change, so we’re investing in the companies rising to the challenge.

Insights

Futureproof: investing in progress

Categories

Private company investing myths

Innovation breeds growth

China: setting the pace in key industries

Perspectives on progress #6

What is private company investing?

Wise: Growing global money transfers

Serving Latin America’s unbanked

Starlink: ending data dead zones

Perspectives on Progress #5

June forum: why we’re backing innovation

Stock stories: Climeworks

Embracing discomfort: manager insights

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