Stellar. In my opinion this is the only word to describe the performance of Scottish Mortgage Trust (LSE: SMT) in 2020. Up 80% in the past six months, the tech stock trust has generated a return to leave investors smiling.
Examining the underlying top holdings of the trust, the reason for the gains become clear. Underpinning the portfolio are giants of the tech stock genre. Tesla, Amazon, Netflix and Spotify are all featured in the top 10 holdings ,and have substantially increased in valuation since the low water mark of April this year.
Overall, my thoughts on the trust are positive. There are low annual charges and it is currently trading at a narrow discount. The management philosophy of James Anderson and Tom Slater is ‘the best potential, durable growth opportunities for the future’, an ethos that will chime with many Fool readers. Earlier this year, Paul Summers