Stifel calls out Baillie Gifford for 'poor' disclosure around unlisted holdings

Analysts William Crighton, Iain Scouller and Sachin Saggar wrote in a research note that while the firm provides "plenty of information" on the rolling three-monthly revaluation process of private companies, understanding whether new shares have been acquired or sold was a struggle.  Scottish Mortgage will 'have to respond' to PE capabilities concerns "BG US and Scottish Mortgage only disclose the market value for the unlisted positions in the portfolio breakdowns," the analysts said.  "Therefore, while the year-end accounts disclose the proportion of capital owned, it is not possi...