Lothian Tory MSP Miles Briggs has today tabled a Parliamentary motion highlighting Edinburgh based Scottish Mortgage Investment Trust PLC’s entry into the UK’s leading share index next week. The Baillie Gifford company will join the FTSE index of the UK’s 100 biggest companies next Friday following a rise in its stock market value.
Speaking today Miles said:
“I congratulate all who work for Scottish Mortgage for growing the company so successfully in the last few years to the extent that it will now take its place in the FTSE for the first time."
“Its entry to the FTSE is a real boost to the profile of Edinburgh’s world class financial services sector which is of such importance to the Lothian economy."
For the full text of Miles' motion, please see below.
Motion Number: S5M-04461
Lodged By: Miles Briggs
Date Lodged: 07/03/2017
Title: Edinburgh’s Scottish Mortgage to Enter the FTSE
That the Parliament welcomes the news that the Edinburgh headquartered, Baillie Gifford Scottish Mortgage Investment Trust PLC, will, for the first time, enter the FTSE 100 leading share index on 17 March 2017; understands that Scottish Mortgage is the UK’s largest conventional investment trust with gross assets in excess of £5 billion; considers that its entry to the FTSE 100 is a milestone for the company, which was founded in 1909, and a testament to the talent and hard work of its board, managers and all its staff who have achieved such a strong investment performance over the last 10 years; believes that Scottish Mortgage joining the FTSE is a further boost for Edinburgh’s reputation and profile as a global centre of excellence for financial services, and wishes the company continued success in the future.