Baillie Gifford’s flagship fund, Scottish Mortgage Investment Trust (SMT), has delivered eye watering returns in recent years. In 2020 alone, the fund’s net assets doubled to over £18.5bn. In this interview, the trust’s co-managers James Anderson and Tom Slater tell Mary McDougall where the next leg of growth is and how they approach finding the next stock market stars. Mr Anderson says we are entering a period of change unrivalled since the industrial revolution, and they both defend their continued support of Tesla, the fund’s largest holding. 

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