Scottish Mortgage Downgraded by Morningstar

Top-performing investment trust loses its Gold Morningstar Analyst Rating

Holly Black 19 August, 2020 | 3:24PM

Morningstar rating

Morningstar analysts have downgraded the Scottish Mortgage Investment Trust (SMT) following changes to the way that funds are rated. 

The investment trust has been a long-term favourite with investors after years of delivering stellar returns. But under Morningstar's enhanced ratings framework, analysts put a greater emphasis on fund fees. While the trust's annual charge is low at 0.36%, the additional cost of its gearing (borrowing) makes its price less competitive. 

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About Author

Holly Black  is Senior Editor, Morningstar.co.uk

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