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Scottish Mortgage launches £1bn share buyback programme
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The £14.2bn trust has repurchased around £353m of its shares in the previous two years and during this time, its board and managers have been «actively considering increasing» the level of buybacks to address the discount. Over the past decade, the trust had repurchased around £1.3bn of its own shares. Scottish Mortgage repurchases Meta after 2020 exit SMT is currently trading on a 14.6% discount, according to data from the Association of Investment Companies, the third highest in the IT Global sector. This means the £1bn total represents 9% of SMT shares, at the current price. ...
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