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...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes