30-531: SMT may refer to: Businesses and organisations [ edit ] Based in Scotland [ edit ] Scottish Mortgage Investment Trust (LSE stock symbol: SMT) Scottish Motor Traction , a defunct bus operator Based in the United States [ edit ] SMT (media company) , a provider of live sports scoring Seismic Micro-Technology ,
60-557: A r e s i × F r e e f l o a t a d j u s t m e n t f a c t o r i I n d e x d i v i s o r {\displaystyle \mathrm {Index~level} ={\frac {\sum _{i}\mathrm {Price~of~stock} _{i}\times \mathrm {Number~of~shares} _{i}\times \mathrm {Free~float~adjustment~factor} _{i}}{\mathrm {Index~divisor} }}} The free float adjustment factor represents
90-654: A fairly weak indicator of how the UK economy is faring and are significantly affected by the exchange rates of the pound sterling. A better indication of the UK economy is the FTSE 250 Index , as it contains a smaller proportion of international companies. Even though the FTSE All-Share Index is more comprehensive, the FTSE ;100 is by far the most widely used UK stock market indicator. Other related indices are
120-464: A really dreadful mess... We continue to have more confidence in investment prospects overseas than in the UK". Scottish Mortgage celebrated its centenary year in 2009. Investments continue to reflect the global-nature of the Trust with holdings in fast-growing economies such as China and Brazil. As at 20 August 2020 the Trust had total net assets of approximately £14.6 billion. As at 30 September 2021,
150-804: A seismology software developer Society for Music Theory , a learned society Rail transport [ edit ] St Margarets railway station (Hertfordshire) , England Semarang Tawang railway station , Indonesia Shanghai maglev train , a Transrapid line in China Science and technology [ edit ] Satisfiability modulo theories , in computer science and logic Simultaneous multithreading , in computing Statistical machine translation , in computational linguistics Sulfamethazine , an antibiotic drug Surface-mount technology , in electronics Heinrich Hertz Submillimeter Telescope , Arizona, United States Other uses [ edit ] Senior management team, at schools in
180-468: Is 10 GBP × index points and is specified as: The index has reached the following record values: The index began on 3 January 1984 at the base level of 1,000. The highest closing value of 8,445.80 was reached on 15 May 2024 and the highest intra-day value of 8,474.71 was also reached on 15 May 2024. The following table shows the annual development of the calculation of the FT 30 Index from 1969 to 1983, and
210-566: Is able to invest up to 30% of the value of the Trust, measured at the time of investment, in private companies at any one time. Over the entire history of Scottish Mortgage, it has cut its dividend only once, in 1933 - after the effects of the Depression ravaged its portfolio. In every other year, it either maintained or increased its dividend, even during both World Wars. In 1942 the chairman wrote with masterly understatement of "some important adverse influences... Our revenue has suffered from
240-556: Is maintained by FTSE Russell , a wholly owned subsidiary of London Stock Exchange Group , which originated as a joint venture between the Financial Times and the London Stock Exchange . It is calculated in real time and published every second when the market is open. The FTSE 100 Index with its 100 constituents was launched on 3 January 1984. The market capitalisation weighted FTSE 100 index replaced
270-702: Is managed by Baillie Gifford & Co Limited , the Edinburgh-based investment management partnership. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index . The origins of Scottish Mortgage lie in a credit crisis, the Panic of 1907 . By 1909 the growing popularity of the motorcar, including the Model T Ford , was creating significant demand for tyres, which rubber planters in Southeast Asia were keen to exploit, but credit
300-644: The Argentine , Indian , Chinese and Imperial Ottoman governments. From early on, North American investments featured in Scottish Mortgage's portfolio, but these were augmented substantially in the mid-1930s with the proceeds of European investments sold in reaction to the deteriorating political situation in Europe. By 1940, 22 per cent of the portfolio was invested in US names. Soon after, however,
330-576: The Big Bang . The combination of a new index, major privatisations, LIFFE tradable derivatives, and promotion by the Financial Times led to the FTSE 100 becoming the most widely used indicator of whether the UK stock market was rising or falling. In 1987, privatisations continued with British Airways and British Petroleum . The latter concluded on the same day as Black Monday , a crash in which
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#1732765921513360-504: The British government mandated the sale and repatriation of all American securities owned by British citizens, including those of Scottish Mortgage. The government's representative overseeing this formidable exercise was Carlyle Gifford. The proportion invested in the US fell to 6.6 per cent by 1942, not to be rebuilt until the 1950s. By 1957, in the midst of the post- War boom in equities,
390-603: The FTSE 100 since 1984. The following table lists the FTSE 100 companies after the changes on 1 October 2024. All changes are due to market capitalisation unless noted otherwise. Source: "FTSE: FTSE 100 Constituent Changes" ( PDF; 57.9 KB ) The oldest continuous index in the UK is the FT ;30, also known as the Financial Times Index or the FT Ordinary Index ;(FTOI). It
420-535: The FTSE 250 Index (which includes the next largest 250 companies after the FTSE 100), the FTSE ;350 Index (which is the aggregation of the FTSE 100 and 250), FTSE SmallCap Index and the FTSE Fledgling Index . The FTSE All-Share aggregates the FTSE 100, FTSE 250 and FTSE SmallCap. In the FTSE indices, share prices are weighted by free-float capitalisation, so that
450-477: The Trust had total net assets of approximately £19.5 billion. The company's philosophy is to 'invest in progress' by identifying companies and entrepreneurs building the future of the economy. The Trust holds publicly traded companies as well as an allocation of capital to private companies, which as of October 2023 includes; Elon Musk 's rocket company, SpaceX and the TikTok developer, ByteDance . The Trust
480-533: The UK Shin Megami Tensei , a video game series Shrimati (Smt.), an Indian feminine honorific Simte language , spoken in India (ISO 639-3 code) Social mirror theory Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title SMT . If an internal link led you here, you may wish to change the link to point directly to
510-419: The UK allocation has also varied. During the early 1970s, UK equities and bonds fell from 63 per cent in 1972 to nearly 45 per cent of the Trust two years later. While some of this decline reflects steep relative falls in the UK stock market, it also reflects a deliberate move away from the UK. The exasperation of the chairman comes through in his 1975 statement: "The fact is that this country has got itself into
540-539: The almost complete stoppage of dividends from the invaded areas". FTSE 100 Index The Financial Times Stock Exchange 100 Index , also called the FTSE 100 Index , FTSE 100 , FTSE , or, informally, the " Footsie " / ˈ f ʊ t s i / , is the United Kingdom's best-known stock market index of the 100 most highly capitalised blue chips listed on the London Stock Exchange . Founded in 1984 by Stock Exchange to better reflect activity on
570-461: The chairman noted, "...we have over 44 per cent of our assets...in USA and Canada. Indeed, a higher proportion would have been even better". In the 1960s, the Trust was among the first to take advantage of the lifting of restrictions on foreigners investing in the burgeoning Japanese market; a sound investment decision, but a controversial one with wartime memories still fresh. The amount invested in
600-412: The index fell 21.73% in two days; one of those days is still the index's worst single-day return, –12.22%. The index consists of 32 sectors , four of which had a market capitalisation exceeding £200 billion as of 28 June 2024 . These are pharmaceuticals , oil and gas , metals and mining and banking services , which together account for approximately 46% of the index's capitalisation. On
630-524: The intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=SMT&oldid=1187469339 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Scottish Mortgage Investment Trust Scottish Mortgage Investment Trust is a publicly traded investment trust . It invests globally, looking for strong businesses with above-average returns. Scottish Mortgage
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#1732765921513660-457: The larger companies, with more of their stock "floating", make more of a difference to the index than smaller companies. The basic formula for these indices is: I n d e x l e v e l = ∑ i P r i c e o f s t o c k i × N u m b e r o f s h
690-481: The market, it replaced the Financial Times ' own FT 30 . A new index allowed Stock Exchange to launch the options contract derived from the FTSE's real-time data, while competitors LIFFE launched the futures contract . By 1986, Margaret Thatcher 's sweeping financial deregulation and high profile privatisations of index members British Telecom , British Gas , and British Aerospace had culminated in
720-528: The percentage of all issued shares that are readily available for trading, rounded up to the nearest multiple of 5%. The free-float capitalisation of a company is its market capitalisation multiplied by its free float adjustment factor. It therefore does not include restricted stocks, such as those held by company insiders. FTSE futures contracts are traded on the Euronext Equities & Index Derivatives (EUREID) exchange. The value of each contract
750-571: The period, with a strong bias towards North America – rather than the Rubber plantation specialist that had originally been envisaged. In recognition of this, the Board decided to change its name to “The Scottish Mortgage and Trust Limited”; this change of name received official approval on 31 May 1913.” Early investments reflected the rapid global industrialisation that characterised the period, including shares in oil and railway companies and loans to
780-420: The price-weighted FT30 Index as the performance benchmark for most investors. The FTSE 100 broadly consists of the largest 100 qualifying UK companies by full market value. The total market value of a company is calculated by multiplying the share price of the company by the total number of shares they have issued. However, many of these are internationally focused companies: therefore the index's movements are
810-459: The same date, there were four companies with a market cap exceeding £100 billion: Shell , AstraZeneca , HSBC and Unilever , which together accounted for approximately 30% of the market cap. Each calendar quarter, the FTSE's constituents are reviewed and some companies exit or enter the index, resulting in irregular trading volume and price changes as market participants rebalance their portfolios . The index has trading symbol UKX and
840-434: The scale anticipated. In 1913, the Trust's investment remit was widened to include bond and equity markets worldwide, and its name changed to The Scottish Mortgage and Trust Company Limited . “By 1913 it was obvious the future of the trust lay in operating as a normal investment trust – that is to say, one which invested in a broad range of securities, very largely overseas, as was typical of Scottish investment trusts of
870-547: Was established in 1935 and nowadays is largely obsolete due to its redundancy. It is similar to the Dow Jones Industrial Average , and companies listed are from the industrial and commercial sectors. Financial sector companies and government stocks are excluded. Of the original constituents, three are currently in the FTSE 100: Tate & Lyle, Imperial Tobacco and Rolls-Royce, although Rolls-Royce has not been continuously listed and Imperial Tobacco
900-479: Was still difficult to obtain. In Edinburgh, the recently formed legal partnership between Colonel Augustus Baillie and Carlyle Gifford (which ultimately became Baillie Gifford & Co) spotted an opportunity. They established The Straits Mortgage and Trust Company Limited to lend money to the planters, secured on the rubber estates. Within a couple of years, however, the credit crisis was over and rubber planters no longer required finance from Straits Mortgage on
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