Scottish Mortgage

The Scottish Mortgage Investment Trust, the flagship fund of Edinburgh-based Baillie Gifford, has announced its largest ever share buyback programme.

The star-performing Scottish Mortgage Investment Trust suffered a slight decline in net asset value of 0.1 per cent after a tough year which saw a 26 per cent drop in earnings due to a challenging global picture. The drop has forced the £3.9 billion trust to dip into capital reserves to cover divid