Appointment of Broker

RNS Number : 2185B

Scottish Mortgage Inv Tst PLC

29 January 2020

 

Scottish Mortgage Investment Trust PLC

Scottish Mortgage Investment Trust PLC appoints Numis Securities Limited as Joint Corporate Broker to work alongside

Jefferies International Limited

29 January 2020

Following a tender process, the Board of Directors of Scottish Mortgage Investment Trust PLC is pleased to announce it has appointed Numis Securities Limited as joint Corporate Broker to the Company with immediate effect. Numis will work alongside Scottish Mortgage's existing Corporate Broker, Jefferies International Limited.

Fiona McBain, Chair of Scottish Mortgage, says:

"The scale of Scottish Mortgage Investment Trust PLC and its position within the top 100 companies in the UK market, continue to render it appropriate for the Company to retain two Corporate Brokers. The Board is pleased to announce that it has appointed Numis Securities Limited to act as joint broker to the Company alongside Jefferies International Limited.

The Board wishes to thank Jefferies for taking a leading role in the provision of Corporate Broking services to the Company throughout the period of the tender process."

Baillie Gifford & Co Limited

29 January 2020

For further information please contact:

Catharine Flood, Corporate Strategy Director for Scottish Mortgage Investment Trust PLC Baillie Gifford & Co Ltd	0131 275 2718 [e-mail]
David Benda, Managing Director, Investment Banking Numis Securities Limited	0207 260 1275 [e-mail]
Gary Gould, Managing Director, UK Investment Banking Jefferies International Limited	0207 029 8682 [e-mail]
Jon Atkins, Four Communications	020 3697 4200 [e-mail]

Notes to editors

Scottish Mortgage Investment Trust PLC

Scottish Mortgage offers an actively managed investment trust, investing in a high conviction, global portfolio of companies with the aim of maximising its total return to its shareholders over the long term. It is jointly managed by James Anderson and Tom Slater. Both are partners of Baillie Gifford & Co.

Scottish Mortgage was founded in 1909 initially to offer loans to rubber growers in Malaysia. It is now the UK's largest conventional investment trust with gross assets of over £8.9 billion as at 31 December 2019. It has a strong focus on providing a low-cost long-term investment proposition to its shareholders, with an ongoing charge of 0.37% for the financial year to 31 March 2019.

Baillie Gifford

Baillie Gifford & Co Limited is the manager of Scottish Mortgage Investment Trust PLC. Baillie Gifford & Co currently employs 1,285 people as at 31 December 2019 and has assets under management and advice of £218.6 billion as at 31 December 2019. An asset management firm founded in 1908, it is headquartered in Edinburgh where most of its staff are based.

This information has been issued and approved by Baillie Gifford & Co Limited which is authorised and regulated by the Financial Conduct Authority (FCA). The investment trusts managed by Baillie Gifford & Co Limited are listed UK companies and are not authorised or regulated by the Financial Conduct Authority.

With any investment, capital is at risk.  The value of shares can fall as well as rise and investors may not get back the amount invested. The trust's risk could be increased by its investment in unlisted investments.  These assets may be more difficult to buy or sell, so changes in their prices may be greater.  Due to the trust's investments in overseas securities, changes in the rates of exchange may also cause the value of investments to go down or up.

For Key Information Documents for Scottish Mortgage, please visit our website at www.bailliegifford.com

 

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