Baillie Gifford investment trusts prepare for more IPOs in 2022

Several Scottish Mortgage and Schiehallion holdings made financing announcements over the festive period

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Baillie Gifford investment trusts Scottish Mortgage and Schiehallion look set to benefit from the IPOs of a food delivery company and a data management company in 2022.

Just before Christmas, US start up Gopuff raised $1.5bn (£1.1bn) in a convertible note that values the company at $40bn. Bloomberg reports the company is in discussions with investment banks for an IPO in H2 2022. The food delivery company represented 0.4% of Scottish Mortgage’s net asset value in November.

Cohesity has confirmed it has filed for an initial public offering. Its last funding round valued it at $2.25bn. Schiehallion has a 1.7% weighting to the data management company.

Finally, both investment trusts have exposure to SpaceX, which raised $337.4m in equity financing in December, with Scottish Mortgage having a 1.2% weighting and Schiehallion’s weighting representing 4.8% at the end of November.

The flood of activity comes in James Anderson’s (pictured) final months as manager of Scottish Mortgage. Anderson will be retiring from portfolio management in March.

In November, one of Schiehallion’s largest holdings, Allbirds, went public in the US, shortly after Warby Parker, another major holding listed on the New York Stock Exchange.

See also: Will Baillie Gifford’s big bet on Moderna pay off?

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