Members of the Scottish Mortgage investment trust board have clashed over concerns about its corporate governance and illiquid asset exposure.
The Financial Times reported that non-executive director Amar Bhidé clashed with chair Fiona McBain at the trust's board meeting on Thursday over the appointment of two new board members, and his personal assessment of the risks posed by the portfolio's investment in illiquid assets. The FT piece asserted that Bhidé has been removed from the board of Scottish Mortgage as a result, however Baillie Gifford stated that Bhidé had not been removed from the board, noting that any changes would have to be communicated via a stock exchange announcement. Speaking to the FT, Bhidé said: "I hav...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
