Activist Elliott pushes Scottish Mortgage for ‘shareholder value’ after taking 5% stake (2024)

Activist Investor 22 Mar, 2024

Update: Activist US hedge fund held discussions with the Baillie Gifford global flagship before it launched its £1bn share buyback programme last week.

By Gavin Lumsden

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This article was published on Thursday at 7.30pm and updated throughout Friday.

Update: Elliott Associates, the much feared and respected US activist hedge fund, has emerged with a 5% stake in Scottish Mortgage Trust (SMT), putting pressure on the UK’s biggest listed equities fund to improve returns to shareholders.

In a post-market disclosure to the stock exchange on Thursday, the Delaware-based investment firm revealed it had bought nearly 0.5%, or 6.5m shares, in the Baillie Gifford flagship with a further 4.57% in equity swaps to take it just over the 5% reporting threshold on Tuesday.

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