Scottish Mortgage investment trust has added the Taiwan Semiconductor Manufacturing Company to its portfolio for the first time in a decade, Investment Week can reveal.
The £14bn trust began buying the stock in April and has amassed a stake in the business accounting for roughly 1% of SMT's total assets, around £140m. The sale will be reflected in the company's April factsheet, and while it is not initially entering the top ten holdings, Ben James, portfolio director for SMT, told Investment Week it will be "a significant position in Scottish Mortgage for a while". He said that while he could not pre-empt the final allocation or investment decisions made by the managers, "there will be opportunities to add to it, because it is a cyclical industry". ...
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
