IC Top 100 fund Scottish Mortgage Investment Trust (SMT) has doubled its exposure to private companies in under two months in a belief that some of the most interesting companies are holding back from listing on the main stock markets.
After revealing to Investors Chronicle just two months ago that under 5 per cent of its assets were invested in unlisted stocks, the fund has doubled its exposure to private companies to 10 per cent.
According to its interim report, the trust is now invested in 16 unquoted holdings, which include data analytics company Palantir Technologies, at 1.1 per cent of the trust's total assets, and Indian e-commerce company Flipkart. The report said shareholders should expect the volume of assets invested in unquoted stocks to increase.