According to a stock exchange notice on Thursday (22 March), the firm bought close to 0.5% of the trust’s shares, as well as an additional 4.57% in equity swaps, crossing the 5% threshold on 19 March.
Based on Scottish Mortgage’s closing price, Peel Hunt has estimated this represents a substantial exposure to SMT of around £607m.
The Delaware-based investment firm, which is known for its activist shareholder campaigns at companies including GSK and Germany’s Fresenius, is led by Paul Singer, recognised for his high-profile, and often combative dealmaking.
Trust analysts: Alliance …
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