Portfolio
Scottish Mortgage provides you with access to a high-conviction, global portfolio made up of public and private growth companies. We are benchmark agnostic, meaning the managers can select the companies they have the highest conviction in, and so we provide shareholders exposure to a diverse range of sectors and industries.
Performance
At Scottish Mortgage, we aim to maximise total returns for shareholders over the long term, typically five years or more.
When holding companies over such a period, volatility is inevitable. So while the size of returns we aim to deliver may be attractive, the path to achieving them may not. That's why we ask shareholders to be aware of time horizons when choosing to invest.
Below you’ll find the share price and NAV performance compared to that of its benchmark, the FTSE All World Index TR.
The value of your investment may go down as well as up, and you may not get back the amount you invested. Please bear in mind that past performance is not a guide to future performance.
Shareprice, NAV and Benchmark
This graph shows the performance of our share price and net asset value (NAV) alongside the Trust’s benchmark which is the FTSE All-World Index.
As at 30 November 2025
Source: Morningstar, FTSE.
Performance figures appear in GBP. Benchmark data is limited to a 5 year period from the current date.
The graph has been rebased to 100.
Discount/Premium at Fair
If the current share price is above the net asset value (NAV), the Trust is said to be trading at a premium, i.e. it costs more to buy the shares than the underlying investments are worth. When the share price is below the NAV, this is known as trading at a discount. This chart tracks what % of the NAV the share price has been trading at.
As at 30 November 2025
Source: Morningstar. Premium/Discount of share price to NAV at fair.
If the graph shows negative figures this means that the share price is lower than the NAV at fair – this is known as trading at a Discount.
If the graph shows positive figures this means that the share price is higher than the NAV at fair - this is known as trading at a Premium.
Periodic/Discrete Performance
Periodic performance shows the cumulative performance over a total time period. Discrete performance shows the gain or loss of the Trust's price over a defined time period as a percentage.
