The last month has seen the stock recover some of its losses, rising 8%. With the shares trading for around 815p, is now the time to buy?

A tough year

The main reason for Scottish Mortgage’s underperformance this year is due to the type of stocks it holds in its portfolio. The trust targets high-growth companies, including names such as Tesla, Nvidia, and Tencent. And with inflation rising globally, 2022 has seen these stocks suffer.

Firstly, this is because the economic uncertainty caused by inflation tends to see growth stocks take the hardest hit as investors move their money from these riskier investments to ‘safer’ value stocks.

Secondly, to combat inflation, interest rates are pushed up. With growth stocks tending to borrow big, in order to grow, this also means the debt on their balance sheet becomes tougher to pay off. Combined, this has seen the Scottish Mortgage share price suffer.

Not all bad news

Despite its struggles this year, I’m still keen on Scottish Mortgage shares.

To start, instead of looking at the dip in its price as an issue, I’m looking at it as an opportunity. The trust’s management team makes it clear that Scottish Mortgage aims to maximise returns over a five-year period. It uses the FTSE All-World Index as a benchmark for this. And safe to say, it’s outperformed this in the latest five-year stint.

As a long-term investor, this suits me. This focus nullifies any short-term headwinds. And the trust has proven this by surviving multiple crises such as the dotcom bubble and the 2008 financial crisis.

I am also drawn to Scottish Mortgage because of the diversity my portfolio receives from a single investment. The trust has a global portfolio, including unlisted shares, all for a cheap ongoing charge of 0.32%. For me, this is perfect.

One issue I see is its weighting in China. This makes up around 20% of Scottish Mortgage’s holdings. And with the country still struggling to keep a lid on Covid-19 cases, this could be an issue. We’ve seen the impact this has had so far reflected through supply chain concerns. Should this continue, this could drag the Scottish Mortgage share price down.

However, over the long term, I think its Chinese focus will bear fruit. It’s the fastest growing economy in the world. And I have full belief in the management team to pick out future winners. While it may see the trust suffer now, from a long-term perspective this doesn’t bother me.

At 815p, I’d happily snap up Scottish Mortgage shares. Its investment strategy aligns with my needs. And the diversity it offers is a great boost for my portfolio. Trading for nearly half of its 52-week high, I’d buy Scottish Mortgage now and hold for the years to come.

The post At 815p, are Scottish Mortgage shares a buy? appeared first on The Motley Fool UK.

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Charlie Keough has no position in any of the shares mentioned. The Motley Fool UK has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Despite a small rebound last Friday, 2022 has seen Scottish Mortgage (LSE: SMT) shares plummet by over 40%. The investment trust had been a top performer over the past decade. And in 2020 it showed its resilience, rising over 100% despite the impact of the Covid-19 pandemic. Yet with inflationary pressures this year denting investor confidence, the trust has taken a hit.

As a long-term investor, I think this fall is an opportunity for me to add the trust to my portfolio this month. Let’s find out why.

Why have SMT shares sunk?

The main contributor to the demise of the Scottish Mortgage share price is the performance of its top holdings. This includes companies such as Tesla, Nvidia, and Tencent. With these stocks down 43%, 52%, and 21% this year, respectively, this has reflected negatively on Scottish Mortgage.

The fall of these stocks is part of a wider decline seen among growth stocks. Scottish Mortgage has a large focus on such companies. And as global inflation continues to surge, it’s having a negative effect on these firms. This is largely because, in volatile times, growth stocks tend to be hit the hardest as investors switch their funds to ‘safer’ value stocks.

Long-term vision

So, it’s clear to see that 2022 has been tough for Scottish Mortgage shares. However, I’d still buy the stock today as a long-term addition to my portfolio.

Firstly, I like it due to the diversity it offers my portfolio. The trust has over 100 holdings. And of these, over 50 are unlisted shares, such as SpaceX. This is an opportunity for me to access a variety of opportunities under a single investment.

Further, while inflationary issues are wreaking havoc in the market now, this is a short-term concern. Scottish Mortgage’s management is keen to note how the trust focuses on returns over a five-year period. And while past performance is no indication of future returns, the last five years have seen it return 84% to shareholders. This highlights its long-term potential.

Around a fifth of the trust’s holdings are Chinese. And with ongoing Covid concerns, this could pose a threat to the Scottish Mortgage share price.

However, as the fastest growing economy in the world, and therefore ample opportunities, I think its large weighting to Chinese shares will pay dividends in the long run.

I also have faith in the management team of Tom Slater and Lawrence Burns. Both have played an active role in the trust’s success in years gone by. With a keen eye for investing in companies early, as seen with Tesla, I think these two are more than capable of placing Scottish Mortgage in a position to succeed. 

As such, I’d add the shares to my portfolio today. The diversification that it offers is something I like. And while it may face issues in the near future, it’s proved over time it can reward shareholders. Its heavy weighting to China, coupled with management’s eagle-eyed investment style, could also lead me to see some healthy returns over time.

The post Why I’d buy Scottish Mortgage shares in July! appeared first on The Motley Fool UK.

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Charlie Keough has no position in any of the shares mentioned. The Motley Fool UK has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

The Scottish Mortgage (LSE: SMT) share price is down 45% in 2022. I’ve been a keen advocate of the investment trust in the past. And, despite the fall, I remain one. Here’s why I’d buy Scottish Mortgage today as a long-term addition to my portfolio.

Scottish Mortgage share price history

In a year where many stocks suffered, Scottish Mortgage bucked the trend in 2020 with returns of over 100%. This impressive growth slowed last year, with the stock rising just under 5%. And since the turn of 2022, the trust’s share price has slowly fallen.

The most important reason for the trust’s fall is due to the performance of its top holdings. This includes Moderna, Tencent, and Amazon. And with these stocks down 46%, 16%, and 38% this year, respectively, it’s clear to see why Scottish Mortgage has suffered.

It also has a focus on growth stocks. As global inflation continues to rise, this is having an impact on these firms. This is because interest rates are raised to counteract inflation. And, therefore, the debt these firms have to fund their growth becomes more difficult to pay off. To make matters worse, growth stocks tend to be hit the hardest during these times as investors move their money to ‘safer’ value stocks. For Scottish Mortgage, this is clearly bad news.

Why I’m still buying

Despite these issues, I would still buy the stock today.

Essentially, one of my main attractions to Scottish Mortgage is the diversity it offers my portfolio. The trust invests in a range of companies. And this diversification offsets risk and exposes me to opportunities that I couldn’t attain using my own funds. Scottish Mortgage can also allow me to gain access to unlisted shares, such as SpaceX. Add this to its cheap ongoing charges of 0.34%, and I’m only further attracted to the trust.

I also think the above are short-term concerns. The trust’s management highlight how Scottish Mortgage focuses on returns over a five-year period. And the trust uses the FTSE All-World Index as a benchmark. Over the last five years, it has returned 67% to its loyal shareholders. While past performance is not an indication of future returns, the trust has also navigated some challenging crises over time. An example is the dotcom crash of 2000, and its resilience and ability to bounce back from crises like these is why I like Scottish Mortgage.

Yet, there are risks surrounding Scottish Mortgage. One of these is the large weighting it has in China. This makes it vulnerable to the potential issues surrounding the country and Covid threats. The possibility of future lockdowns could hurt the stock’s price.

That said, the trust has a track record of investing early in high-growth companies. This has played a key role in its success, with an example being buying Tesla back in 2013 when the firm was trading for just $6 a share.

As such, I’d buy the trust today. As a long-term investor, the above issues do not concern me. And Scottish Mortgage’s diversification and proven resilience lead me to believe this fall in price is a great opportunity. With management’s ability to find high-potential growth stocks, I also think investing now could see me make some healthy returns in the long run.

The post The Scottish Mortgage share price is down 45%. Here’s why I’d buy and hold! appeared first on The Motley Fool UK.

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Charlie Keough has no position in any of the shares mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK has recommended Amazon and Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

So the bottom is now in?

Obviously, no one can say for sure whether we’ll see a new low in the Scottish Mortgage Investment Trust share price (or any other stock for that matter). There are simply too many factors to take into account in order to come up with a reliable near-term forecast.

Besides, adopting a Foolish mentality means I’m only really concerned about building a nest egg slowly but surely over the long term. Seen purely from an investment point of view, I don’t need to take the awful conflict in Eastern Europe into account, nor where inflation is going next or any other ‘known unknown’.

However, there are a few things I reckon we can be a little more confident about. 

Reasons to be optimistic

First, SMT’s share price is now almost 25% below where it stood at the start of 2022. Are the stocks it holds in the portfolio 25% worse businesses? I don’t think so. Even the most successful companies can see their valuations yo-yo as the market switches from fear to greed and back again. The question to ask is whether the fundamentals of retail titans like Amazon, pharma firm Moderna, or luxury goods maker Kering have really changed. I just can’t see it.

Second, Scottish Mortgage Investment Trust’s managers clearly know a good company when they see one. That’s why the share price is still up 170% or so since March 2017. This compares favourably to the frankly derisory 2% fall of the FTSE 100. No, past performance can’t guarantee anything. But it is just about the best thing we have with which to judge the performance of those we trust our savings with. 

Third, innovative companies — the sort that SMT’s managers like and invest in — won’t suddenly stop innovating. This is why I simply can’t bring myself to get involved in the rotation to ‘value stocks’ that we’ve seen over recent months. Yes, airlines and banks might enjoy a brief period in the sun. However, their cyclical nature means the returns they generate will likely remain poor by comparison.

Nothing is risk-free

By now, you’ll probably guess that I’m confident the Scottish Mortgage Investment Trust will eventually recover. And then some. As such, I think now is as good a time as any to continue adding to my portfolio here. Bar an absolutely seismic event, I think the bottom has already been seen.

This is not to say that there aren’t drawbacks to investing now. In contrast to the sensational yields on offer elsewhere, the trust pays virtually no income to holders. That’s entirely understandable. SMT owns businesses that are focused on re-investing profits for even bigger returns later down the line. However, it does mean I’m not really being compensated for my patience.

On top of this, it’s inevitable that a certain number of the companies will disappoint and not achieve the growth they once hinted at. Still, the fact that Scottish Mortgage Investment Trust is diversified across a number of sectors helps to protect investors like me from this eventuality.

The post Scottish Mortgage Investment Trust: have we seen the bottom? appeared first on The Motley Fool UK.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Paul Summers owns shares in Scottish Mortgage Investment Trust. The Motley Fool UK has recommended Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

What’s the deal?

Under the terms of the deal, owners of the stock will receive a round 800p for every share that they own. This would be a 70.5% uplift on the Meggitt share price last Friday. As Mondays go, I can think of worse ways to start a week as an investor!

It’s not hard to see why Parker would be interested in acquiring the FTSE 250 member either. Both already supply defence equipment to the UK and US governments, as well as those in the EU. Snapping up Meggitt would also allow the $47bn giant the opportunity to double its Aerospace Systems segment. 

The latter could be great timing on Parker’s part. Describing the deal as “strategically and culturally compelling”, Meggitt’s potential suitor believes the deal will allow it to take advantage of strong growth opportunities going forward, especially as the world gets back to normal after Covid-19 and commercial aerospace recovers.

Based on its calculations, Parker believes its earnings will increase in the first full year after the deal is done. It’s certainly no stranger to acquiring and successfully integrating UK companies.

This is not to say that Meggitt will be moving across the pond. To allay any fears, Parker has already said that it will keep the components supplier headquartered in the UK and ensure that the majority of Meggitt’s board is made up of UK nationals. R&D spending will also be maintained (and possibly increased) in the years ahead.

Meggitt share price: what now?

Unsurprisingly, Meggitt’s directors have unanimously recommended that shareholders vote to accept the takeover. This is where things get even more interesting.

The Meggitt share price was trading around 730p a pop this morning. That’s up a whopping 55% on last Friday’s closing price. However, it’s still almost 10% below the offer price mentioned in today’s statement.

The question is whether today’s news will bring out another bidder. As Morrisons has shown, it only takes one buyer to show their hand before others arrive on the scene. Then again, a premium of over 70% is already very generous and takes the share price back above pre-Covid levels. Another potential suitor would really need to dig deep.

There is, of course, always a chance the deal might fall through. Holders may reject the offer, thinking they can get more for their company. Should this be the case, I’d expect the share price to become volatile if no one else steps forward. It’s interesting to note that gaming firm Sumo Group‘s valuation has begun to drift since it received an offer from China’s Tencent in mid-July. Then again, this might have something to do with the internet giant hitting the headlines back home!

UK plc on sale!

Regardless of what happens next, today’s announcement is more evidence that the (relatively cheap) UK market is continuing to attract overseas bidders. As such, I don’t think this will be the last big takeover we’ll be hearing about in 2021. Indeed, I suspect FTSE 100 firm Burberry could be one of the next to receive an offer or two unless it takes steps to reassure investors.

The post Here’s why the Meggitt share price is rocketing today! appeared first on The Motley Fool UK.

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Paul Summers holds shares in Burberry. The Motley Fool UK has recommended Meggitt, Burberry and Morrisons. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Holders of UK gaming company Sumo Group (LSE: SUMO) will be enjoying a huge jump in the company’s share price this morning, thanks to a takeover bid. I don’t think this growth stock will be the last to fall at the hands of an overseas suitor either.

Another UK growth stock is snapped up

Today, it was revealed that an agreement had been reached for an all-cash sale of Sumo to Chinese internet giant Tencent. Under the terms of the deal, each existing owner will receive 513p for every share that they own. All told, this values Sumo at £919m.

I think this represents a great return for holders and gives a premium of roughly 43.3% on Sumo’s share price of 358p at last Friday’s close. Before today’s announcement, those who had snapped up a stake in this company just a year ago would have near-doubled their money. Today, that gain became just over 180%! 

Sumo isn’t going cheap either. Before this morning, shares were already trading at 40 times forecast earnings. At today’s bid price, the valuation is now an eye-watering 58 times earnings. That’s a meaty price for Tencent to pay. So, as much as I hate to see a promising UK growth stock fall into the hands of the Chinese giant, I wouldn’t blame holders for giving the deal two thumbs up. 

Then again, we could still see a bidding war erupt. This exact scenario played out with fellow UK gaming stock Codemasters not long ago.

Who will receive a takeover bid next?

While Sumo has been a great UK growth stock, the name of the company was unlikely to be on the radars of many in the market. However, today’s news shouts out two things to me.

First, the gaming sector continues to be white-hot. In fact, I think this space could be one of the investment themes of the next decade when the growing popularity of eSports is taken into account. For this reason, I wouldn’t blame holders of Team 17 and Frontier Developments for licking their lips over potential deals.

Second, news of today’s bid is yet another indication that the UK market remains attractive to overseas/private equity firms. Morrisons is one big name that’s set to be sold. I think FTSE 100 broadcaster ITV, luxury goods firm Burberry and price comparison site Moneysupermarket.com might be next. Then again, I would say that — I own all three! 

The only problem with all this is that no one knows for sure who will receive a bid (other than those making it!). For this reason, I’d never buy a stock solely on the possibility that it might be taken over. I need to be confident that each of the companies I own is robust enough to survive on its own. To do otherwise would be risky. This is especially true if the company was already going through a period of wobbly trading. Takeover offers can be great when they happen. However, they must never be presumed.

What I’d buy now

So, congratulations to holders of Sumo. While there could be another chapter of this tale to go, I’d already be turning my attention to finding other UK growth stocks to fill the eventual void in my portfolio.

Having tumbled in price recently, one in particular really catches my eye.

The post Here’s why the Sumo share price jumped 43% today! appeared first on The Motley Fool UK.

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Paul Summers owns shares in Burberry, ITV and Moneysupermarket.com. The Motley Fool UK has recommended Burberry, Frontier Developments, ITV, Moneysupermarket.com, and Morrisons. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

However, the stock’s value dipped from the all-time high of 1,415p in early 2021 in line with the global tech sell-off. The share price has since recovered over 20%, currently sitting at 1,247p. Though this past performance is not indicative of future returns, there are several of reasons I believe the Scottish Mortgage Investment Trust share price can keep rising.

Global exposure

Scottish Mortgage has a hugely diversified portfolio with over £19bn assets under management. Notable top ten holdings include Tencent (5.8%), NIO (3.2%), and Moderna (4.7%), all of which have provided stellar returns in the past year. Exposure to such high-growth stocks is a real highlight for me. Although the fund is dominated by tech, the top holdings still grant investors diverse access into multiple industries in one investment. This diversity vastly reduces the risk of banking on just one stock.

Though the heavy focus on growth companies may lead to increased volatility, it also positions the trust’s shares for longer-term returns. Scottish Mortgage also demonstrated its active management by selling over 7% of its Tesla stock earlier this year before the tech sell-off. This gives me confidence in its management of any short-term volatility.  

Tech dominant risks

The tech sell-off was the main reason that the Scottish Mortgage Investment Trust share price fell earlier this year. As I covered in a previous article, the sell-off was primarily due to rising inflationary concerns fuelled by the expectations that central banks will reduce their fiscal stimulus measures post-Covid. In addition to this, the global semiconductor shortage has slowed the growth of many electric vehicle companies. Two of Scottish Mortgages holdings, NIO and Tesla – which make up a whopping 8.2% of the portfolio – have experienced problems in production as a result of this.

The above factors seem to have turned investors appetite sour on tech stocks, driving down share prices of some industries’ frontrunners. While these shares are beginning to recover in value, the tech-heavy make-up of its portfolio could pose a risk to the Scottish Mortgage Investment Trust share price in the future.

In addition to this, fund manager James Anderson has announced he will be stepping down in 2022, after four decades with Baillie Gifford. Having led the trust for so long, his departure could lead to questions around future performance.

Scottish Mortgage Investment Trust share price: where next?

I think the trust is poised for some great long-term growth, with a key stake in some promising emerging growth companies. However, the inflationary uncertainty of the foreseeable future certainly poses a risk to the short-term Scottish Mortgage Investment Trust share price as its portfolio is so heavily reliant on tech growth stocks. This could lead to some more volatility in the future.

However, as a current owner, I am bullish about the future of the trust. I think the Scottish Mortgage share price offers more room for growth and could see a steady rise throughout the remainder of the year. Therefore, I would add more of this stock to my portfolio today.

The post Will the Scottish Mortgage Investment Trust share price keep rising? appeared first on The Motley Fool UK.

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Dylan Hood owns shares in Scottish Mortgage Investment Trust, NIO, and Tesla. The Motley Fool UK owns shares of and has recommended NIO Inc. and Tesla. The Motley Fool UK has recommended Moderna Inc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Long-term outlook

The aim of SMT is to be an “actively managed, low-cost investment trust, investing in a high-conviction, global portfolio of companies with the aim of maximising its total return to shareholders over the long term”, according to the April 2021 factsheet. And long term is key here. As such, I have no concerns with the short-term volatility it may currently be experiencing. The trust measures performance over a five-year period. Being a long-term investor, I’m happy with that. And I only have to look at the 100% share price rise in 2020 to see the returns SMT can offer.

So why do I like it for the long term? When looking at the top holdings, I see huge potential. As of April 2021, the portfolio included Tencent, NIO, and Amazon. These companies open avenues for me to the growing tech industry. With the current tech sell-off, I see the exposure SMT can provide to this sector as a good way to diversify my portfolio further, for a good price.

And I like the way the managers think ahead. SMT took the decision to halve its position in Tesla earlier this year, banking a profit before the tech sell-off. Moves like this give me confidence for the future active management of the portfolio.

Risks with Scottish Mortgage Investment Trust

With the above said, I’m aware of the potential risks that come with SMT. First, fund manager James Anderson intends to step down in April 2022. Having spearheaded the rise of the trust, this could arguably leave future performance in question. After all, Anderson was key in the decision to invest in Tesla back in 2013 when the stock was trading at $6. Could his keen eye be a loss in the years ahead?

To add to this, the operation’s large exposure to tech can also be a risk in itself as the current tech sell-off (which my fellow Fool Dylan Hood explained very well) shows. With investor confidence continuing to fall, SMT’s share price could too.

My verdict

The news regarding James Anderson may be a blow for investors. He has delivered incredible returns over his time as fund manager. On top of this, the trust has been volatile recently.

However, as a long-term investor, I’m not put off by this. SMT has a solid track record and I see the current share price as a good opportunity to buy.

The all-time high in February may only be the beginning of what investors could see further down the line. That’s why I’m buying more of the shares now.

The post Why I’m still buying Scottish Mortgage Investment Trust appeared first on The Motley Fool UK.

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Charlie Keough owns shares in Scottish Mortgage Investment Trust and NIO. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool UK owns shares of and has recommended Amazon, NIO Inc., and Tesla. The Motley Fool UK has recommended Illumina and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.