Scottish Mortgage will 'have to respond' to PE capabilities concerns

Follows boardroom row

Scottish Mortgage is facing its second round of anxiety over private equity exposure this year, following internal concerns about its capabilities to navigate this space.

A flagship product of Baillie Gifford, Scottish Mortgage has faced criticism from its own non-executive board member Amar Bhidé, who spoke out against the firm with his concerns. In an interview with Financial Times, Bhidé said he questioned the management team's "capabilities and governance clout" to fully monitor its PE exposure, given the lack of publicly available information, culminating in a row with chair Fiona McBain. Scottish Mortgage board clashes over governance and unlisted issues James Carthew, head of investment companies QuotedData, said Bhidé had raised "serious que...