- Scottish Mortgage continued to race ahead in the six months to the end of September
- Lockdown trends have favoured this growth portfolio
- An analysis of the strengths, and possible risks, facing the trust
The runaway market rally that took hold at the end of March may have left plenty of active funds in the dust, but some investor favourites have simply gathered further momentum.
Such is the case for Scottish Mortgage Investment Trust (SMT): the half-year report released by the global equity fund this morning points to an astonishing net asset value (NAV) gain of 76 per cent in the six months to the end of September, well ahead of the 24 per cent rise in the FTSE All World index. The trust’s share price total return over this period is roughly in line with the NAV increase. However, investors would do well to remember the nature of exposure – and risk – within the portfolio.