Analysts at brokerage and investment banking firm Stifel have warned the Baillie Gifford US Growth trust that it should “be careful not to get carried away” with the gains from the revaluation of SpaceX.
SpaceX represents the largest holding of the trust, at 7.6% of the portfolio, an investment that has led to a "strong recent run" for the vehicle in past months, according to Stifel analysts William Crighton, Iain Scouller and Sachin Saggar. The trust is now trading on a premium of 3.8%, according to data from the Association of Investment Companies, a rarity in the investment trust sector that has been dominated by discounts in recent years. This premium was driven by a rise in the net asset value of its assets, with SpaceX spearheading the uptick. Baillie Gifford withdraws fro...
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