Scottish Mortgage just shy of joining FTSE 100

Quarterly reshuffle of blue-chip index

Baillie Gifford's Scottish Mortgage investment trust has made the reserve list for the FTSE 100, just missing out on becoming the third ever investment company to enter the index, in the latest FTSE quarterly review.

The £4.2bn trust has grown significantly over the year, thanks to positions in the fast-growing technology sector including stocks Google and Amazon and, more recently, a higher weighting towards innovative, unquoted companies. Despite not making the UK's blue-chip index, Scottish Mortgage is first on the reserve list, meaning in the event one or more constituents are deleted during the period up to the next quarterly review, it will be promoted. Russ Mould (pictured), investment director at AJ Bell, said: "Scottish Mortgage has benefited from its unconstrained global approach to inve...