Saba Capital and the Baillie Gifford-run Edinburgh Worldwide (EWI) are at loggerheads again, a year after the activist first tried to oust its directors and replace them with its preferred alternatives. This time, a lot of focus has been on EWI's stake in SpaceX, where it recently sold down a large chunk of its holding a few months before a large increase in the company's valuation. Here, we look at the history of SpaceX in the various Baillie Gifford trusts that have invested in it. At $800bn, SpaceX is the world's most highly valued private company, and it is rumoured to be targeting an IPO ...
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Schiehallion (ticker: MNTN) was launched in 2019 when it raised $477m at $1.00 per share. It raised an additional $40m from regular issuance between June 2020 and March 2021, then a further $700m from a C share issue in April 2021. Baillie Gifford's Peter Singlehurst has been its lead manager since it joined the market. MNTN is a 'crossover' fund, meaning that it buys stakes in unquoted growth companies, but it is happy to keep holding should they become listed. To date, MNTN has invested in around 50 companies, several of which have had IPOs, and it currently has holdings in six of the world’...
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Stuart's profile of BH Macro duly appeared this week and his next subject will be will be looking at 3i, the large but idiosyncratic private equity group, whose investment in the European retail chain Action has been one of the more remarkable successes of recent years. In this week's notes I continue to look at what other investors I follow are saying and doing, while I ponder where we go from here and how best to navigate the coming months.
Something different today? As you may know I do some occasional podcasts and interviews for Master Investor and spoke at their big annual investor ev...
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Stuart qualified as a chartered accountant before moving into journalism and has 20 years of experience of owning and writing about investment trusts from an independent standpoint. He is now producing regular fund profiles for the Money Makers circle. This post originally appeared on his blog but it has been added to our archive to build up our library of content.
The Schiehallion Fund was given a low-key launch by Baillie Gifford in March 2019 as it was designed primarily for institutional investors. After a recent $700m fundraising, it's now become one of Baillie Gifford's largest investme...
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