Scottish American Investment Company (SAINTS)
Company Notes
Will the SAINTS discount come marching in?
Summary
- Scottish American Investment Company*, known as SAINTS, aims to deliver a high and dependable income stream, alongside real growth in income and capital. It principally invests in global equities (85% of total assets as at 31 December), complemented with small allocations to direct property (7%), bonds (5%) and infrastructure equities (3%).
- James Dow and Toby Ross have been lead managers since August 2017 and are supported by Baillie Gifford’s Global Income growth team. The directly-held Property portfolio is managed by OLIM Property Limited.
- Under James and Toby’s management, SAINTS has delivered a NAV total return of +80%, outperforming the FTSE All World Index (+68%), the Global Equity Income peer group (+68%) and its sister open-ended fund, Baillie Gifford Global Income Growth (+69%).
- The fund aims to grow its dividend ahead of inflation over the long term; over the last ten years it has increased its dividend at a rate of 3.5% p.a., including a 9.0% increase in 2022, which compares with UK CPI of 2.7% over the ten-year period. SAINTS has increased its dividend for 49 consecutive years.
*Denotes a corporate broking client of Winterflood Securities
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