Scottish Mortgage managers rebuff comparison to Woodford

Fund managers faced tough questions at an investor webinar

Eve Maddock-Jones
clock • 4 min read

Two Scottish Mortgage managers have rejected shareholder comparisons to Neil Woodford’s former LF Woodford Equity Income fund regarding its private equity exposure.

During an investor webinar last month, fund managers Tom Slater and Lawrence Burns were quizzed by clients. One asked: "After being caught in the Woodford fund, can I be confident that Scottish Mortgage and Baillie Gifford have not gone and done exactly the same thing?" The investment trust has the ability to invest up to 30% of its portfolio in unlisted companies, and its allocation currently sits at 28.9%, according to its most recent factsheet. This comes after the collapse of Woodford's flagship fund, which was in part due to its investments in several unlisted companies that a...

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