Share Name Share Symbol Market Type Share ISIN Share Description
Scottish Mortgage Investment Trust Plc LSE:SMT London Ordinary Share GB00BLDYK618 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  -6.80 -0.94% 715.60 1,048,734 14:20:21
Bid Price Offer Price High Price Low Price Open Price
715.80 716.80 733.00 713.40 728.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 23.26 16.44 1.16 616.9 10,347
Last Trade Time Trade Type Trade Size Trade Price Currency
14:19:41 O 1,160 715.5531 GBX

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Date Time Title Posts
28/6/202209:58scottish mortgage Inv. trust charts2,423
27/6/202216:13Scottish Mortgage Trust2
06/6/202215:33ScoMo ScoMo ScoMo and other BIG TECH207
29/9/202007:18Scottish Mortgage5

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Scottish Mortgage Invest... Daily Update: Scottish Mortgage Investment Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker SMT. The last closing price for Scottish Mortgage Invest... was 722.40p.
Scottish Mortgage Investment Trust Plc has a 4 week average price of 670.60p and a 12 week average price of 670.60p.
The 1 year high share price is 1,568p while the 1 year low share price is currently 670.60p.
There are currently 1,445,899,194 shares in issue and the average daily traded volume is 3,142,378 shares. The market capitalisation of Scottish Mortgage Investment Trust Plc is £10,352,638,229.04.
lord loads of lolly: hohum1 - you say "Unlisted valuation continues to grow - £4.3bn". If the total PERCENTAGE of unlisted holdings was up, yet their total VALUE was down, that'd be a worry. But that's not the case currently. Whilst there's a lag with SMT's unlisted valuations, it's not actually that big. Jefferies analyst Tom Furloing has stated "Ordinarily, Scottish Mortgage revalues its unquoted holdings on a three-month rolling basis, unless there is a market or corporate event requiring an earlier adjustment....... The manager is relatively prompt in updating carrying valuations when market conditions change. This avoids the danger of stale unquoted valuations weighing down the share price as the market anticipate a writedown round the corner. In effect, the bad news is all in the price." As to whether Celsius & Binance adversely affect in the long term, only time will tell. SMT's managers make it quite clear that their investment horizon is 5 years minimum - and that their investors should adopt a similar timeframe. They won't be swayed by periodic changes in market sentiment unless they feel these are a) permanent & b) likely to undermine their original investment case.
lord loads of lolly: hohum1 - you say "If they announced they had taken a 30% haircut to all unlisted valuations - which is roughly what the current discount infers". However this totally ignores the fact SMT's fund price has already halved (and some) from last year's peak. So in order to reflect current NAV, you could say the 30% or so of the fund held in unlisted securities had ALREADY been marked down by 50% (reducing SMT's share price by 15% (50% x 30%). Whilst listed securities have taken a further 50% hit (50% x 70%).
lord loads of lolly: hohum1 - at the most recent valuation, unquoted stocks were around 23% of SMT's total value. So the fund's approx. 50% share price drop, implies all unquoted holdings have been totally written off, with the remaining 77% of the fund taking a 35% hit. Unless quoted stocks have lost even more than 35% in aggregate, which I doubt. Of course, the other explanation is that with all the market uncertainty right now, SMT is trading at an abnormally high discount to NAV (around 11.5%), which history suggests is likely to unwind at some point.
steeplejack: It's a rough calculation but if you run back a couple of months,i provide some data on this BB and ideas that SMT didn't chase the price up as it sped to $400 plus seem like wishful thinking.Anyway,SMT are long term players,so it might all come right.I suspect SMT have a longer perspective than most of the punters who buy their investment trust and watch the share price daily.
masurenguy: Scottish Mortgage slumps 46% since November as it cuts private equity values again Russia’s invasion of Ukraine has deepened the share price slide in Scottish Mortgage (SMT) which have slumped 46% since 4 November, slashing its market value from around £20bn to £12.3bn. The bulk of this has been caused by the fall in big positions in publicly quoted companies such as healthcare stocks Moderna and Illumina, US e-commerce giant Amazon and electric car manufacturer Tesla, China social media platform Tencent and Dutch chip designer ASML. The shares have fallen a third this year. This is its worst slump since the 2008 financial crisis, with the widely-held global fund writing down its private equity investments by around 10% in January, according to an estimate by its joint broker. Shareholders in Scottish Mortgage are not strangers to share price volatility, but the recent slump is much bigger than those of the past two years: when the shares fell 28% in a tech correction last spring before recovering, and in the pandemic crash, when it also tumbled 28% before rebounding in the ensuing internet stock surge that saw its shares more than double in 2020. The outbreak of Covid-19 in the West also saw the trust write down its private equity holdings. By comparison, the trust’s shares lost two thirds of their value in the 2008 financial crisis before making a powerful recovery. Scottish Mortgage’s NAV – the underlying measure of what its portfolio is worth – has fallen 15% since the end of January to just under £10.98 on Friday, which may suggest further markdowns of the private stakes have already taken place. The recent steep decline comes just before the retirement next month of Citywire AAA-rated James Anderson, the architect of the modern Scottish Mortgage, leaving the trust in the hands of A-rated Tom Slater and AAA-rated Lawrence Burns. The retreat puts the trust back at the level it was in July 2020. Although much of its pandemic gains have for now unravelled, its 5 year shareholder returns remain ahead of all other Global sector trusts, with 163% over 5 years and 601% over 10 years.
utyinv: Scottish Mortgage Investment Trust biggest faller on FTSE 100 by Suban Abdulla February 21, 2022 12:53 PM GMT Shareholders of former market darling Scottish Mortgage Investment Trust (SMT.L) have had a rough start to 2022 as its share price declined drastically, turning it into a "dog" fund. The company's share price is down nearly 25% on the year, making it the biggest FTSE 100 (^FTSE) faller. The 113-year-old trust has been a top FTSE 100 performer in the past decade, with its share price rallying more than 100% in 2020. It was up almost 700% during that period. Managed by James Anderson, who is set to leave Baillie Gifford in April, and Tom Slater, the £15bn ($20.4bn) fund is packed full of fast-growing stocks. The fund offers investors ways to invest in companies like carmaker Tesla (TSLA), SpaceX and Epic Games that are among the trust's unlisted holdings, which make up 20% of the portfolio. It counts the likes of pharmaceutical firm Moderna (MRNA), Chinese video games giant Tencent (TCEHY) and US chipmaker Nvidia (NVDA) amongst its top 10 holdings. Experts think one of the reason for the decline is higher interest rates after the Bank of England raised rates for a second time in three months, to 0.5%, after they were slashed to near 0% at the start of the coronavirus pandemic. This coupled with rising inflation has impacted Scottish Mortgage Investment Trust (SMT) thanks to its heavy exposure to unlisted and growth stocks. The Trust's tech-heavy holdings could offer another explanation for the turn down as rising rates could wipe the appeal off tech stocks. A recent tech sell-off meant SMT's holdings tumbled in price, further pushing down its share price. Technology firms benefitted from global governments pumping money into economies and slashing interest rates during the pandemic. So far this year, the tech-heavy Nasdaq (^IXIC) is down 14.4% year-to-date, and down 16.4% since hitting an all-time high in mid-November, just before the Omicron variant hit global markets. However, despite the fast declines, SMT shares are still 55% higher compared to two years ago, according to financial advice firm The Motley Fool. The trust's investment team has been stellar at identifying innovators and high growth stocks in the past, sometimes years before they go public. It outperformed in the global category in the past, with returns of 143%, 214% and 757%, over three, five and 10 years. The investment fund's share price has soared almost 160% since 2017, with investors benefitting from nearly 830% gain in the last decade. This compares to 222% by the MSCI AC World index (ACWI). Peter Hewitt, manager of the BMO Managed Portfolio trust recently said that there is a chance that the trust lags its rivals in the next 12 months. But on a five to 10-year view, he expects SMT to continue to deliver attractive returns. "Holding Scottish Mortgage may mean that I underperform in January, but I am not too worried because in the long run you make big gains from sticking with these types of trusts and where they are invested," he told the Telegraph. Shares in SMT were 4.2% lower on Monday afternoon in London, and down 8% on the week. SMT's stock decline means that the company has joined 86 other "dog funds" underperforming on the market. A recent reportshowed dog funds surged by 54% to £45.4bn. This was led by JP Morgan’s (JPM) US Equity Income fund, which controls £3.92bn in investors’ money and underperformed its North America index by -32%. Halifax UK Growth (-10%) and Invesco UK Equity High Income (-29%) were Britain's biggest dog funds.
steeplejack: Its very difficult in the absence of volume data and its obviously a long term game for SMT but i suspect that they may have been a bit caught out by the sudden disfavour afflicting vaccine stocks.Are we going to get vaccinated in perpetuity as seemed likely six months ago?It’s less likely than it was. In Dec 20,Moderna did not appear in SMTs top ten.By Feb 21,Moderna was SMTs 9th largest holding at 3.6% of total portfolio.By Nov 21,Moderna was the largest holding accounting for 10.5%.Between Feb 21 -Nov 21,the price of Moderna doubled,it was actually retreating from all time highs hit in the Autumn.It was around $175 end Feb 21 but around $350 end Nov 21,so all things being equal,the percentage holding of Moderna in the SMT portfolio would have near doubled to around 7.2% without any further purchases of stock.However,it certainly can’t be ruled out that SMT bought more stock as the price rose towards $500.With Moderna still accounting for 6.3% of the portfolio as of 31Jan 22,it can’t be ruled out that SMT has been buying stock as Moderna have fallen back to a 52 week low.6.3% of the total portfolio is surprisingly high given the collapse in the Moderna price.Arguably Moderna looks well oversold but the ‘fizz’ has really gone out of these vaccine stocks,look at Oxford Biomedica.
careful: I have been investing for many years and I am fascinated how merely supply and demand backed up by nothing else has driven share prices to unbelievable levels. It is buying that drives the share prices up, selling that brings them down. The use of options magnifies movements. The so called Reddit crown burned the shorters at AMC and drove the share price to many times its true value. Some promised never to sell and agreed if they kept on buying it would go up forever. Which it would have. When at a stupidly high valuation some of the smart money cashes in. Not many, or they would all quickly go back to go without collecting £200 as in monopoly. brilliant how Musk cashed in a few billion Tesla right at the top. Saw a guy with a large Bitcoin holding on CNBC saying it was going to triple. Smart guy, he dumped the lot 1 week later. We are rapidly getting to the position where we do not even need an underlying company to play this game. An empty paper bag worth $!0bn which will soon be with $100bn. aint having mine.
29palms: Once again the Pessimist of post#2092 appears back after such a long time away trying to diss SMT again. This would be the same Pessimist that stressed doubt on SMT in a downturn when the share price was circa £5 per share. BTW, Multi-bagger since then. Also the same Pessimist that stated they sold most of their remaining SMT holding when share price was around £9 per share, real shame they missed out on all time high of £15.68 if they had only held on. Really does remind that "People in glass houses should not throw stones"
saltraider: 'Move along. Nothing to see here' So ... I am somewhere between two- and three-bagging on SMT. I'll continue to hang on in there as a long-term holder, thank you. Very relaxed. Even quite pronounced short-term swings in the SMT share price are of very little significance to me. Seen them before. Expect them again.
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