Scottish American (ticker: SAIN), commonly abbreviated to SAINTS, was established in 1873 and is classified in the Global Equity Income sector. It has been managed by Baillie Gifford since 2004, but unlike most other Baillie Gifford funds, SAINTS looks for resilient income stocks rather than disruptive growth companies. What's more, around 10% of its portfolio consists of UK direct property holdings, with a similar amount of long-term debt providing structural gearing. SAINTS has raised its dividend for each of the last 51 years and hasn't cut its dividend since 1938. Although its current yiel...
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UPDATE: A revised version of this profile was published in November 2025.
Scottish American Investment Company (ticker: SAIN), often shortened to SAINTS, is one of the oldest UK-listed investment trusts. It sits in the Global Equity Income sector and has been managed by Baillie Gifford since January 2004. Unlike Baillie Gifford's more growth-focused offerings, SAINTS looks for slightly more mature companies that offer a combination of growth, resilience, and reliable income. Its performance over the last decade has largely matched global markets although it has tended to outperform its more c...
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The signs of excess in the equity markets are accelerating, in the shape of IPOs jumping to huge premiums immediately after listing, historically narrow discounts on investment trusts and a surge in speculative trading in stocks. Amidst widespread expectations of a surge in growth in the wake of the pandemic, a recent focus of market analysts has been the risks associated with the $1.9 trillion stimulus package that President Biden is hoping to steer through Congress. Bond yields have broken through their 50 day and 200 day moving averages in what may be a harbinger of higher inflation ahead. ...
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