Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to bruncher,mark88man,stirlo,johnstevens77,Rhyd6, for Donating to support the site

Scottish Mortgage heading for where

Closed-end funds and OEICs
Bouleversee
Lemon Quarter
Posts: 2989
Joined: November 8th, 2016, 5:01 pm
Has thanked: 680 times
Been thanked: 480 times

Re: Scottish Mortgage heading for where

#347417

Postby Bouleversee » October 13th, 2020, 3:19 pm

scrumpyjack wrote:umm. I think this will carry on for awhile but it's now 20% of my equities and 40% of my pension fund.

Usually if I don't know what to do, I do nothing so inertia rules the waves again!

I know nobody goes broke taking a profit, but one can miss huge gains by not just letting the winners run.


Lucky you. It's only a tiny fraction of mine which has a lot of red in it. What percentage gain on yr cost price?

bluedonkey
Lemon Slice
Posts: 482
Joined: November 13th, 2016, 3:41 pm
Has thanked: 281 times
Been thanked: 151 times

Re: Scottish Mortgage heading for where

#347427

Postby bluedonkey » October 13th, 2020, 3:38 pm

Even with the big jump in the share price, SMT is only just over 3% of my total portfolio. However, I do think of it in the same grouping as my holding in Fundsmith which is just over 6%, so a total of nearly 10%. Still, I am not in top slicing territory. Would love to be!

Dod101
Lemon Half
Posts: 6599
Joined: October 10th, 2017, 11:33 am
Has thanked: 1514 times
Been thanked: 2649 times

Re: Scottish Mortgage heading for where

#347447

Postby Dod101 » October 13th, 2020, 4:05 pm

I have more records than I thought I had and have just been tracking Scottish Mortgage. I first bought my current holding in 2008 in the midst of the doom and gloom of the financial crisis at £6.6978 in old money because they had a 5 for 1 split in 2014 so that equates to £1.34. It promptly halved in value in that year and the following year I bought a few more. It was then untouched until I extracted more than my original purchase price in 2015. That is the basis of my holding today. This year I have sold down 3 times and it remains my biggest holding at about 8% of my total portfolio and well above its monetary value at 1 January 2020. This last couple of years have been quite remarkable and it is just about an eight bagger for me. Had they bought later in 2008 than me it could easily have been a ten bagger for some. Most of the growth though has come just in the last three years. 3 years ago it was around £3.40.

Wish all my investments were like that!

scrumpyjack
Lemon Quarter
Posts: 1269
Joined: November 4th, 2016, 10:15 am
Has thanked: 90 times
Been thanked: 491 times

Re: Scottish Mortgage heading for where

#347452

Postby scrumpyjack » October 13th, 2020, 4:28 pm

Bouleversee wrote:
scrumpyjack wrote:umm. I think this will carry on for awhile but it's now 20% of my equities and 40% of my pension fund.

Usually if I don't know what to do, I do nothing so inertia rules the waves again!

I know nobody goes broke taking a profit, but one can miss huge gains by not just letting the winners run.


Lucky you. It's only a tiny fraction of mine which has a lot of red in it. What percentage gain on yr cost price?


Like Dod I bought the personal holding in 2008 at an adjusted 136p. The pension fund holding in March 2017 for 367p

Also bought ages ago for my children.

Fortunate that my pension fund has enhanced protection taken out in 2006!

Don't worry there have been plenty of disasters too along the way!

MaraMan
Lemon Slice
Posts: 289
Joined: November 22nd, 2016, 3:30 pm
Has thanked: 76 times
Been thanked: 123 times

Re: Scottish Mortgage heading for where

#347456

Postby MaraMan » October 13th, 2020, 4:48 pm

Its interesting to look back, I bought SMT for the first time on 11 July 2017 for £3.96. I sold a third in July this year and have watched the SP rise further. It's my best investment to date and am very happy I made the call to put a big chunk of my SIPP into it.

MM

Dod101
Lemon Half
Posts: 6599
Joined: October 10th, 2017, 11:33 am
Has thanked: 1514 times
Been thanked: 2649 times

Re: Scottish Mortgage heading for where

#348455

Postby Dod101 » October 17th, 2020, 12:30 pm

In the Times this morning there is an item in the Sports section featuring an interview with James Anderson, manager of this Trust. Inter alia, he tells us that he owns just over 1% of the Trust. With a market cap of over £15 billion that is what is called 'skin in the game'.

Dod

Aminatidi
Lemon Slice
Posts: 301
Joined: March 4th, 2018, 8:22 pm
Has thanked: 33 times
Been thanked: 79 times

Re: Scottish Mortgage heading for where

#348456

Postby Aminatidi » October 17th, 2020, 12:32 pm

I dropped Mid Wynd (it's done nothing wrong) for Scottish Mortgage yesterday.

Here's hoping that successful streak continues.

ADrunkenMarcus
Lemon Slice
Posts: 911
Joined: November 5th, 2016, 11:16 am
Has thanked: 315 times
Been thanked: 242 times

Re: Scottish Mortgage heading for where

#348458

Postby ADrunkenMarcus » October 17th, 2020, 12:37 pm

Dod101 wrote:In the Times this morning there is an item in the Sports section featuring an interview with James Anderson, manager of this Trust. Inter alia, he tells us that he owns just over 1% of the Trust. With a market cap of over £15 billion that is what is called 'skin in the game'.

Dod


Presumably, then, he does his job because he enjoys it rather than because he needs the money.

Best wishes

Mark.

Bouleversee
Lemon Quarter
Posts: 2989
Joined: November 8th, 2016, 5:01 pm
Has thanked: 680 times
Been thanked: 480 times

Re: Scottish Mortgage heading for where

#348459

Postby Bouleversee » October 17th, 2020, 12:41 pm

Dod101 wrote:In the Times this morning there is an item in the Sports section featuring an interview with James Anderson, manager of this Trust. Inter alia, he tells us that he owns just over 1% of the Trust. With a market cap of over £15 billion that is what is called 'skin in the game'.

Dod

One section of TT I never look at. Will have to dig it out of the bin as I am curious to know how it arose.

Dod101
Lemon Half
Posts: 6599
Joined: October 10th, 2017, 11:33 am
Has thanked: 1514 times
Been thanked: 2649 times

Re: Scottish Mortgage heading for where

#348463

Postby Dod101 » October 17th, 2020, 1:08 pm

Bouleversee wrote:
Dod101 wrote:In the Times this morning there is an item in the Sports section featuring an interview with James Anderson, manager of this Trust. Inter alia, he tells us that he owns just over 1% of the Trust. With a market cap of over £15 billion that is what is called 'skin in the game'.

Dod

One section of TT I never look at. Will have to dig it out of the bin as I am curious to know how it arose.


It is an item acknowledging his generosity to the main Scottish Football league and is quite interesting. He sounds and always comes across as a modest sort of guy, and as well as his personal holding in SMT, he will of course be well rewarded as a long standing partner in Baillie Gifford. Good for him I'd say.]

Dod

scrumpyjack
Lemon Quarter
Posts: 1269
Joined: November 4th, 2016, 10:15 am
Has thanked: 90 times
Been thanked: 491 times

Re: Scottish Mortgage heading for where

#348472

Postby scrumpyjack » October 17th, 2020, 2:13 pm

and at least he has stayed here to pay his taxes, rather than going to live in Mauritius like Terry!

Lootman
Lemon Half
Posts: 7944
Joined: November 4th, 2016, 3:58 pm
Has thanked: 68 times
Been thanked: 1415 times

Re: Scottish Mortgage heading for where

#348476

Postby Lootman » October 17th, 2020, 2:23 pm

scrumpyjack wrote:and at least he has stayed here to pay his taxes, rather than going to live in Mauritius like Terry!

If his income is UK derived then presumably he has to pay UK tax on it wherever he lives. I believe Terry derives a lot of his income from his offshore businesses, where UK tax would not be a thing if you were non resident here.

scrumpyjack
Lemon Quarter
Posts: 1269
Joined: November 4th, 2016, 10:15 am
Has thanked: 90 times
Been thanked: 491 times

Re: Scottish Mortgage heading for where

#348480

Postby scrumpyjack » October 17th, 2020, 2:46 pm

Lootman wrote:
scrumpyjack wrote:and at least he has stayed here to pay his taxes, rather than going to live in Mauritius like Terry!

If his income is UK derived then presumably he has to pay UK tax on it wherever he lives. I believe Terry derives a lot of his income from his offshore businesses, where UK tax would not be a thing if you were non resident here.


Also as Terry is not UK resident he will not pay CGT.
He may have structured his earnings to be derived from overseas companies in which case they would not be subject to UK income tax.

Dod101
Lemon Half
Posts: 6599
Joined: October 10th, 2017, 11:33 am
Has thanked: 1514 times
Been thanked: 2649 times

Re: Scottish Mortgage heading for where

#348482

Postby Dod101 » October 17th, 2020, 3:06 pm

Hard as it is to believe, I think the partners of Baillie Gifford are a fundamentally ethical lot. I have met a few, a very few of them over the years and they are all modest, down to earth people even although they are very wealthy by my standards anyway. I am thinking for instance of Max Ward of the Independent IT and Chairman, Douglas McDougall, the latter with a holding worth around £40 million and Max Ward about half of that. They are both retired senior partners in BG.

Dod

richfool
Lemon Quarter
Posts: 2457
Joined: November 19th, 2016, 2:02 pm
Has thanked: 530 times
Been thanked: 499 times

Re: Scottish Mortgage heading for where

#348513

Postby richfool » October 17th, 2020, 5:27 pm

An article on Citywire about Bailie Gifford venturing into the Private Equity world. It rather smells of sour grapes, though I note that SMT and USA both have high exposure to unquoted companies.
Quilter on private equity picks: beware Baillie Gifford blow-up

Investors need to consider risk of setbacks at new entrants to the private equity world, such as Merian Chrysalis and Baillie Gifford’s highly-rated hybrid trusts, says Nick Wood, head of fund research at Quilter.

Investors looking for private equity (PE) exposure need to consider the risk of setbacks at flourishing new entrants to the space, such as Baillie Gifford’s highly-rated investment trusts and Merian Chrysalis (MERI), according to Quilter Cheviot’s Nick Wood.

However, Baillie Gifford actually remains relatively inexperienced as a large-scale investor in unquoted companies, Wood (pictured) pointed out.

‘We can’t say whether they’re a successful private equity investor yet, you probably need a good decade. But as it stands, maybe they’re in a very favourable market at the moment,’ he said.

https://citywire.co.uk/wealth-manager/n ... p/a1411673

A related article:

https://citywire.co.uk/wealth-manager/n ... n/a1410121

Adamski
Lemon Pip
Posts: 83
Joined: July 13th, 2020, 1:39 pm
Has thanked: 124 times
Been thanked: 35 times

Re: Scottish Mortgage heading for where

#349563

Postby Adamski » October 21st, 2020, 2:51 pm

Tesla to post q3 results tonight after the us market closes. Going to interesting what the market makes of it, could impact SMT tomorrow.

scrumpyjack
Lemon Quarter
Posts: 1269
Joined: November 4th, 2016, 10:15 am
Has thanked: 90 times
Been thanked: 491 times

Re: Scottish Mortgage heading for where

#350780

Postby scrumpyjack » October 26th, 2020, 2:58 pm

I see Ant Group's flotation values it at $313 billion. This is another business backed by SMT in the early stages. I don't know what size of holding they now have but their judgement when investing in unquoted companies continues to look brilliant, particularly compare to Mr Woodford!

nmdhqbc
Lemon Slice
Posts: 385
Joined: March 22nd, 2017, 10:17 am
Has thanked: 53 times
Been thanked: 113 times

Re: Scottish Mortgage heading for where

#350787

Postby nmdhqbc » October 26th, 2020, 3:39 pm

scrumpyjack wrote:I see Ant Group's flotation values it at $313 billion. This is another business backed by SMT in the early stages. I don't know what size of holding they now have but their judgement when investing in unquoted companies continues to look brilliant, particularly compare to Mr Woodford!


1.6% on 31Aug2020. Who knows what the valuation was then compared to $313bn...

https://www.bailliegifford.com/en/uk/in ... gust-2020/

bluedonkey
Lemon Slice
Posts: 482
Joined: November 13th, 2016, 3:41 pm
Has thanked: 281 times
Been thanked: 151 times

Re: Scottish Mortgage heading for where

#350814

Postby bluedonkey » October 26th, 2020, 5:17 pm

nmdhqbc wrote:
scrumpyjack wrote:I see Ant Group's flotation values it at $313 billion. This is another business backed by SMT in the early stages. I don't know what size of holding they now have but their judgement when investing in unquoted companies continues to look brilliant, particularly compare to Mr Woodford!


1.6% on 31Aug2020. Who knows what the valuation was then compared to $313bn...

https://www.bailliegifford.com/en/uk/in ... gust-2020/

By a rather tortuous method, I calculated (possibly very unreliably) that SMT's holding in Ant is worth $5bn. This seems staggeringly high. My workings:

1.67 billion shares represents 11%, therefore total shares = 15.182bn.
SMT has 0.239bn shares.
0.239 / 15.182 = 1.6% (by coincidence the same % as the holding represents of SMT's assets per the August 2020 disclosure)
1.6% x $313bn = $5bn.

https://www.cnbc.com/2020/10/22/ant-gro ... -ipo-.html

Dod101
Lemon Half
Posts: 6599
Joined: October 10th, 2017, 11:33 am
Has thanked: 1514 times
Been thanked: 2649 times

Re: Scottish Mortgage heading for where

#350824

Postby Dod101 » October 26th, 2020, 5:37 pm

That seems an unlikely valuation but I guess you could be right. SMT itself is only worth something over £15 billion although if their holding in Ant is worth £5 billion it will a lot higher shortly........... It will all come out in the wash no doubt. That is a staggeringly high valuation for Ant anyway making it according to the article I found the world's biggest IPO. SMT's shares ought to be taking off again. SMT would have to reduce its stake otherwise the IT would be overwhelmed

Dod


Return to “Investment Trusts and Unit Trusts”

Who is online

Users browsing this forum: No registered users and 10 guests