Gold prices edge higher; economic uncertainty persists as U.S. govt reopens
Investing.com -- Scottish Mortgage Investment Trust saw its net asset value rise 22.9% in the six months to September 30, outperforming the FTSE All-World Index’s 15.4% gain during the same period.
The company’s share price increased by 20.9% on a total return basis, according to the interim financial report approved by the board on Wednesday.
Chairman Christopher Samuel described the period as "strong" but cautioned that six months is "too short a time frame on which to judge performance given the long-term nature of the investment strategy."
The trust’s performance was driven by companies across diverse geographies that share characteristics including "the ability to scale efficiently, to benefit from compounding effects, and to operate with a long-term perspective in sectors undergoing structural change."
Key contributors included companies involved in artificial intelligence infrastructure such as ASML, TSMC, and NVIDIA, as well as digital platforms like Roblox, Meta, and Spotify.
During the period, Scottish Mortgage added several new holdings including Figma, AppLovin, Xiaohongshu, CATL, and Anthropic. The company reduced positions in Amazon, Roblox, Spotify, Meta Platforms, Netflix, Tempus AI, MercadoLibre and Shopify to fund these new investments.
The trust repurchased 75.2 million shares at a cost of £765.4 million during the period, part of a broader £2.6 billion buyback program initiated in March 2024.
The board proposed an unchanged interim dividend of 1.60 pence per share, payable on December 12.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.