The Edinburgh Worldwide trust has changed its investment policy to allow the portfolio to hold unlisted equities.
A statement by the £125m trust’s board says the fund can invest in unlisted firms on “an opportunistic basis” but cannot take aggregate holdings in unlisted equities above 1% of total assets.
“The intention is not to invest in small start up investments at an early stage but more mature companies planning to undertake an IPO in the foreseeable future and which are believed to have above average prospects for growth,” the statement explains.
The objective of the fund, which is managed by Baillie Gifford’s Mark Urquhart, has not been amended and sees the portfolio aim for long-term capital growth by investing in listed companies throughout the world.
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