Ex-Scottish Mortgage director accuses board of misleading shareholders - reports

Amar Bhidé

A sacked director of the £9.4bn Scottish Mortgage trust has made accusations that its board has been “seriously misleading” investors.

Amar Bhidé left the Scottish Mortgage board on 17 March, and in a Linkedin post a week later, said he had presented the Financial Conduct Authority with his concerns about the trust's director selection process. Today (30 May), it was reported by The Times that Bhidé told the FCA that the Scottish Mortgage board had been inaccurate about the main reason for his dispute with them, and had failed to disclose his concerns over the way it had picked new board members.  The company's version of events was, said Bhidé, "highly incomplete and, by virtue of its incompleteness, seriously misle...