The Scottish Investment Trust (SCIN)

Business description

The Scottish Investment Trust’s objective is to provide investors, over the longer term, with above-average returns through a diversified portfolio of international equities and to achieve dividend growth ahead of UK inflation. Assets are primarily allocated on the basis of the investment merits of individual stocks rather than those of regions, sectors or themes.

Stock data

Market cap.£664.4m
Last close795.00p
High / Low (52 weeks)806.5p / 582.0p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Investment summary

The Scottish Investment Trust (SCIN), founded in 1887, is a self-managed global equity investment trust. It has recently taken steps to modernise and streamline its operations, and in October 2015 put in place a focused, contrarian investment process under a new management team. It aims to exploit the behavioural biases of market participants by identifying three types of company: the very out-of-favour; those where improvements have not been appreciated by the consensus; and good companies that could still do better. Recent performance has been strong, but the discount remains wider than average, perhaps reflecting a lack of awareness of the process and team changes. In H215 the trust repaid some of its long-term borrowings, further reducing costs; it now has one of the lowest expense ratios in its peer group, as well as a 34-year track record of dividend growth.

Last updated on 18/11/2016

Key management

Alan Jamieson, Investor Relations
Malcolm Dodds, Marketing Consultant
Alasdair McKinnon, Manager

Company address

6 Albyn Place
Edinburgh
EH2 4NL
United Kingdom
+44 (0) 131 225 7781
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