Scottish Mortgage (SMT) NAV outpaces index on private and AI bets
Scottish Mortgage Investment Trust reported a 31.5% NAV total return versus 16.0% for its benchmark. Gearing was cut to 4% and an interim dividend of 1.80p was declared.
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what happened
Scottish Mortgage Investment Trust (SMT) posted a 31.5% NAV total return, compared with 16.0% for its benchmark, according to TradingView. Gains were led by SpaceX, Moderna and holdings tied to artificial intelligence, with private companies also contributing.
Net gearing fell to 4%, and the trust declared an interim dividend of 1.80p per share.
why it matters
For SMT shareholders the key points are the outperformance against the index and a much lower level of borrowing. Lower gearing reduces the fund's exposure to sharp sell-offs in high-growth and unlisted holdings, which tend to be volatile.
market impact
SMT: results above the index support interest in the fund and its large private holdings
tags
instruments
sources
- SMT: NAV return beat the benchmark as private and AI holdings drove strong gains — TradingView, 6 November 2026 at 07:02 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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