Scottish Mortgage sells out of Illumina

First invested in 2011

Scottish Mortgage has sold out of long-term holding Illumina after a “disappointing” few years.

Speaking to clients on its latest 'Manager Update' Q/A on Wednesday (1 November), SMT's lead manager Tom Slater confirmed that they had sold out of the gene sequencing firm. The managers first took a position in the company in March 2011 and in 2016 it was the second biggest holding in the trust. Slater and the trust's co-manager, Lawrence Burns, cut back the position in Illumina earlier this year and as of 30 September, it made up 0.7% of the portfolio, according to the latest half-year report. Scottish Mortgage private asset valuations slide as unquoted exposure hits 31% At th...