Scottish Mortgage (SMT) has made two new additions to its portfolio in a bid to capture more “exceptional growth” - luxury brand Hermès and Latin American digital banking platform Nubank.
Baillie Gifford's flagship product, SMT, made a name of itself by being an early investor into some of the biggest drivers of market returns today, including Amazon, Tesla and SpaceX, to name a few. But managers Tom Slater and Lawrence Burns said in their latest ‘Perspectives on Progress' newsletter that "exceptional growth is not just the preserve of newer companies", and classed Hermès in this bracket. Scottish Mortgage carries out more than double its five-year share buyback average in 2024 A French luxury design house and manufacturer established in 1837, Hermès is renowned for...
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