Scottish Mortgage Trust Upgraded to Gold

Falling fees have led to Morningstar analysts to revise their rating for the trust from Silver to Gold

James Gard 4 October, 2021 | 2:58PM
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Gold trophy

Tech-focused investment trust Scottish Mortgage (SMT) has been upgraded to Gold by Morningstar analysts. Analyst Daniel Haydon said that declining costs, alongside the combination of “a best-in-class team with a well-executed process” has driven the upgrade from Silver to Gold.

Scottish Mortgage is one of the most popular and best-performing UK investment trusts in the UK, reaching a market cap of nearly £20 billion. Its managers have a reputation for spotting disruptive, high-growth companies at an early stage. Among its winning investments are Tesla, Amazon, Airbnb and Spotify. According to Morningstar data, the trust has produced an annualised return of 28% in share price terms over 10 years and 34% over five years. In 2020, Scottish Mortgage was the best performing investment trusts under Morningstar coverage, with a gain of more than 100%.

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James Gard  is content editor for Morningstar.co.uk