The Scottish American Investment Company is a publicly traded
investment trust
An investment trust is a form of investment fund found mostly in the United Kingdom and Japan. Investment trusts are constituted as public limited companies and are therefore closed ended since the fund managers cannot redeem or create shares.
...
. It invests in a broad range of UK and international assets. The Scottish American Investment Company is managed by
Baillie Gifford & Co Limited, the Edinburgh-based investment management partnership. It is listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
and is a constituent of the
FTSE 250 Index
The FTSE 250 Index ( "Footsie") is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange. Promotions and demotions to and from the index occur quarterly in March, June, Septemb ...
.
History
SAINTS was initially formed as The Scottish American Investment Company Limited by William Menzies in March 1873. Menzies was an Edinburgh lawyer who had visited the United States on several occasions during the 1860s and was struck during those visits by the wealth of investment opportunities in that young and rapidly growing nation. Among the other co-founders were Scottish emigrant American banker
John Stewart Kennedy
John Stewart Kennedy (January 4, 1830 – October 30, 1909) was a Scottish-born American businessman, financier and philanthropist. He was a member of the Jekyll Island Club (also known as The Millionaires' Club) on Jekyll Island, Georgia a ...
and Dundee and later London financier
Robert Fleming.
As well as adapting its investment portfolio to changing conditions, the Company has also had to be flexible in how it conducts its affairs. Until 1970, the Company managed its investments itself but this changed in 1970 when Stewart Fund Managers Limited was appointed to manage SAINTS. Stewart Fund Managers and various successor companies acted as SAINTS' manager from that point until 31 December 2003 when management of the portfolio passed to Baillie Gifford & Co Limited.
Historical investments
Scottish American Investment's subsidiary, "Scottish-American Mortgage Company," financed the well-known
Swan Land and Cattle Co. and
Prairie Land and Cattle Co., as well as the
El Capote Ranch.
References
External links
The Scottish American Investment Company WebsiteBaillie Gifford & Co WebsiteTrust Magazine - Investment trust news, expert analysis, videos, competitions, and more from Baillie Gifford
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Investment trusts of the United Kingdom
British companies established in 1873
Companies listed on the London Stock Exchange
Investment management companies of the United Kingdom
Companies based in Edinburgh
1873 establishments in Scotland
Financial services companies established in 1873