Having been through two world wars and several recessions, Scottish Mortgage Investment Trust also appears to be pandemic-proof (Greig Cameron writes). Shares in the FTSE 100 constituent have more than doubled in value since hitting a virus-related trough in March. Much of that is thanks to its exposure to big technology companies, such as Tesla, Amazon and Netflix, shares of which have risen significantly this year.
The trust was formed in 1909 and has been managed by Baillie Gifford, the Edinburgh-based funds group, for most of that period. This week Baillie Gifford said that it had trimmed its holding in Tesla, the electric vehicle and battery maker. The large uplift in Tesla’s share price, $86 at the start of the year to about $450
