The £3.5bn Scottish Mortgage investment trust is seeking shareholders' approval to amend its investment policy regarding the proportion of assets that may be invested in companies not listed on a public market.
Its investment policy currently lists unquoted companies among the permissible investments, but there are no formal parameters stipulating how much the trust can invest in such stocks. The board of the trust will propose to amend its investment policy at its next AGM on 30 June, subject to regulatory and shareholder approval. The proposal is to introduce a cap of 25% of total assets, measured at the time of purchase, on the maximum amount which may be invested in companies not listed on a public market. The board believes managers James Anderson (pictured) and Tom Slater have a com...
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