Scottish Mortgage Inv Trust (SMT)

Sector:

Investment Firms

Index:

FTSE 100

882.20p
   
  • Change Today:
    -0.40p
  • 52 Week High: 901.00
  • 52 Week Low: 637.60
  • Currency: UK Pounds
  • Shares Issued: 1,336.21m
  • Volume: 2,472,410
  • Market Cap: £11,788m
  • RiskGrade: 143

Scottish Mortgage sees NAV fall, but earnings rise

By Benjamin Chiou

Date: Friday 26 Oct 2012

LONDON (ShareCast) - Scottish Mortgage Investment Trust, the FTSE 250-listed trust run by investment manager Baillie Gifford, saw net asset value (NAV) decline in the first half, though earnings were helped higher by dividend-paying companies on the portfolio.

NAV per share dropped by 1.5% over the six months to September 30th, while its share price declined by 1.6%, more or less in line with the FTSE All-World Index which fell 1.5% in sterling terms.

However, earnings per share totalled 12.53p during the half, up 16% from 10.83p the year before due to a "continuing healthy dividend stream from the portfolio".

The board raised its interim dividend from 6.2p to 6.7p, "a rise that is well above inflation", the group assured.

Nevertheless, despite NAV decreasing in the first half, the company claims that its performance over longer periods is "more relevant" given the approach adopted: "the portfolio is not managed in a way that tries to time markets but instead the focus is on careful and deliberate consideration of existing and potential investments in companies."

In this respect, the company said that the NAV total return (capital and dividends) per share over a three-, five- and 10-year period was 41%, 17% and 217%, respectively. Meanwhile, the share price has improved by 47%, 20% and 255%, respectively. "These figures are ahead of those of the FTSE All-World Index which were 23%, 18% and 139%," the firm said.

"The opening events of the financial crisis took place about five years ago and subsequently markets fell very sharply. The effect of this can be seen in the long term figures where the five year returns are lower than those on either side. This base effect means that the five year figures will be volatile over the coming year until they work through the calculation."

The company retained its optimistic outlook, saying: "As ever, the fortunes and progress of individual companies determines long term performance and equity investment is not without risk and uncertainty. However, the opportunity set does not appear to be waning at all and is fertile ground for patient long term investors.

"The US presidential election, Eurozone developments, global political factors and the unexpected will, as always, occupy headlines."

Shares were down 0.43% at 696.5p in early trading on Friday.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SMT Market Data

Currency UK Pounds
Share Price 882.20p
Change Today -0.40p
% Change -0.05 %
52 Week High 901.00
52 Week Low 637.60
Volume 2,472,410
Shares Issued 1,336.21m
Market Cap £11,788m
RiskGrade 143

SMT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.93% above the market average7.93% above the market average7.93% above the market average7.93% above the market average7.93% above the market average
12.08% below the sector average12.08% below the sector average12.08% below the sector average12.08% below the sector average12.08% below the sector average
Price Trend
76.00% above the market average76.00% above the market average76.00% above the market average76.00% above the market average76.00% above the market average
89.12% above the sector average89.12% above the sector average89.12% above the sector average89.12% above the sector average89.12% above the sector average
Income
87.42% below the market average87.42% below the market average87.42% below the market average87.42% below the market average87.42% below the market average
90.18% below the sector average90.18% below the sector average90.18% below the sector average90.18% below the sector average90.18% below the sector average
Growth
40.77% above the market average40.77% above the market average40.77% above the market average40.77% above the market average40.77% above the market average
34.85% above the sector average34.85% above the sector average34.85% above the sector average34.85% above the sector average34.85% above the sector average

SMT Dividends

  Latest Previous
  Final Interim
Ex-Div 13-Jun-24 23-Nov-23
Paid 11-Jul-24 15-Dec-23
Amount 2.64p 1.60p

Trades for 29-May-2024

Time Volume / Share Price
16:02 1 @ 881.80p
15:38 1 @ 883.40p
16:38 38,173 @ 882.20p
16:35 782 @ 882.20p
16:35 781 @ 882.20p

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