Overseas boost Scot Mortgage

Scottish Mortgage's performance has been enhanced by its switch from UK equities to overseas markets. During the 12 months to 31 March the £2.2bn trust sold £164m of UK equities to enable it to increase its exposure to the US and Europe in particular. Some 55% of the portfolio was exposed to UK equities as at 31 March 1999, but this weighting has fallen to 43.1%. Over the same period exposure to Europe has risen by 3.7% to 18.8% and the US weighting has risen from 10.6% to 12.9%. During the period the trust benefited from outperformance in Asia, Japan, Europe and the US, according to the ...