Scottish Mortgage sees reversal of fortunes

Manager urges investors not to focus on short-term performance as trust returns 81% over year to 31 March in contrast to last year's declines

The £1.8bn Scottish Mortgage investment trust has seen a sharp reversal in performance this year, compared to last year’s falls. Baillie Gifford’s James Anderson, who runs the trust, has urged investors not to focus on short-term performance. The global growth trust returned 81% for the year to 31 March, compared to its benchmark’s 45% return. This is in stark contrast to last year when trust’s NAV declined by 41% while the benchmark fell 23%. Anderson says: “The last 12 months have demonstrated the dangers of undue attention to annual performance data. Last year we seemed terri...