Edinburgh Worldwide Investment Trust

What Edinburgh Worldwide Investment Trust does

Edinburgh Worldwide Investment Trust PLC is a London-listed closed-end investment trust launched in 1998 and managed by Baillie Gifford & Co. The trust invests in 60-100 global smaller companies operating at technological frontiers, targeting long-term capital appreciation through early-stage disruptive growth businesses. Up to 25% of total assets may be held in private companies at initial investment, with the remainder in publicly traded smaller companies; the portfolio spans at least six countries and 15 industries, maintains a 99% active share versus the S&P Global Small Cap Index, and charges ongoing fees of 0.85% per annum. Key portfolio holdings include SpaceX (17.9% of total assets as of May 2026), PsiQuantum (5.4%), Xometry (3.9%), and Alnylam Pharmaceuticals (3.9%), reflecting thematic exposure to space technology, quantum computing, on-demand manufacturing, and biotechnology.

The trust is registered in Edinburgh, Scotland, with total assets of £962.73m and shareholders' funds of £937.06m as of 31 May 2026; shares (ISIN GB00BHSRZC82, SEDOL BHSRZC8) trade at a 5.3% discount to NAV at fair value. Performance has been highly volatile: 53.5% NAV total return over the trailing year and 70.6% share price return, against a -16.7% NAV total return over five years and a 29.7% NAV per share increase for the year ending October 2025. The portfolio is distributed to UK and international retail investors through investment platforms, financial advisers, and the London Stock Exchange.

In April 2026, activist hedge fund Saba Capital Management, which had accumulated over 30% of shares through a campaign beginning in December 2024, won a shareholder vote and replaced the entire board with its nominees (Gabriel Gliksberg as Chair, Michael Joseph, Jassen Trenkow). The new board has signalled a strategic pivot toward UK-listed investment trusts, an active share buyback program, and tender offers allowing shareholders to exit at NAV minus costs. The investment management mandate with Baillie Gifford, in place since 1998, is subject to ongoing uncertainty under the new board.

Name

Edinburgh Worldwide Investment Trust

Legal name

Edinburgh Worldwide Investment Trust PLC

Website

https://edinburghworldwide.co.uk

Company type

Public

Founded year

1998

Operating status

Operating

Short description

Edinburgh Worldwide Investment Trust PLC is a London-listed closed-end fund managed by Baillie Gifford, investing in 60-100 global smaller companies at technological frontiers. Up to 25% is allocated to private companies, targeting long-term capital appreciation via early-stage disruptive growth businesses across at least six countries and 15 industries.

Ownership category

akta.pro rank

Headquarters

HQ city

Edinburgh

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Investment Trust Returns: As an investment trust, Edinburgh Worldwide generates returns through capital appreciation of its portfolio holdings in disruptive growth companies. The trust invests in both public and private companies, with returns driven by the performance of holdings such as SpaceX (17.9%), PsiQuantum (5.4%), Xometry (3.9%), and Alnylam Pharmaceuticals (3.9%).

Pricing tiers

Distribution channels3 records

Marketing channels5 records

Core offering

Edinburgh Worldwide Investment Trust is a London-listed closed-end investment trust that invests in 60-100 immature, disruptive public and private companies across global smaller companies markets. The trust targets long-term capital appreciation by gaining early exposure to emerging businesses with significant disruptive growth potential, primarily in listed equities while permitting up to 25% of total assets in private company investments at initial investment stage. Key portfolio holdings include SpaceX (17.9%), PsiQuantum (5.4%), Xometry (3.9%), and Alnylam Pharmaceuticals (3.9%), spanning sectors such as aerospace & defense, software, biotechnology, semiconductors, and healthcare.

Product overview

Edinburgh Worldwide Investment Trust is a single unified investment trust product managed by Baillie Gifford. The trust offers a diversified portfolio of 60-100 publicly traded and private growth companies across multiple countries and industries, with up to 25% of assets allocated to private companies at initial investment. The portfolio focuses on early-stage disruptive companies in sectors including aerospace & defense, software, biotechnology, semiconductors, and healthcare. Key holdings include SpaceX (17.9%), PsiQuantum (5.4%), Xometry (3.9%), and Alnylam Pharmaceuticals (3.9%), among others. The trust is structured as a closed-end investment company listed on the London Stock Exchange, providing long-term capital appreciation through active management rather than index tracking.

Differentiator

Problem solved

Functional benefit

Products and services

• Edinburgh Worldwide Investment Trust A London-listed closed-end investment trust offering shareholders exposure to a portfolio of 60-100 immature, disruptive public and private companies across at least six countries and 15 industries, targeting long-term capital appreciation through early access to emerging growth businesses with significant disruptive potential. Actively managed with up to 25% of total assets permitted in private companies at initial investment, with key holdings including SpaceX, PsiQuantum, Xometry, and Alnylam Pharmaceuticals.

Quantifiable outcome

• 53.5% NAV total return over 1 year (as of May 2026) vs 32.8% benchmark return
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor.

• Glass LewisminorOthersIndependent governance adviser that recommended Edinburgh Worldwide shareholders vote against Saba's proposals at the January 2026 requisitioned general meeting.
• ISS (Institutional Shareholder Services)minorOthersIndependent voting adviser that recommended Edinburgh Worldwide shareholders vote against Saba's proposals, aligning with Glass Lewis and the unanimous position of the trust's independent board.
• Computershare Investor Services PLCminorOthersMaintains the share register on behalf of Edinburgh Worldwide Investment Trust. Queries regarding shares registered in investor names can be directed to their Bristol office.
• Association of Investment Companies (AIC)minorOthersIndustry body representing investment trusts. Edinburgh Worldwide is a member, and the AIC provides information on investing via fund platforms and hosts shareholder voting resources.

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Henderson Smaller Companies Investment Trust: UK-listed investment trust focused on UK smaller companies with active management by Janus Henderson. Comparable as a smaller-companies focused investment trust serving UK retail investors.
• Scottish Mortgage Investment Trust: Also managed by Baillie Gifford & Co and focused on global growth companies, including significant exposure to private and disruptive technology businesses. Highly comparable mandate, manager, and investor base.
• Baillie Gifford US Growth Trust: Managed by Baillie Gifford with a US-focused growth mandate. Was the proposed merger partner for Edinburgh Worldwide in late 2025 before Saba blocked the deal — indicating strong strategic comparability.
• Herald Investment Trust: UK-listed investment trust focused on smaller companies, particularly in technology and media sectors. Directly comparable investor mandate targeting smaller, growth-oriented disruptive companies.
• Chrysalis Investments: UK-listed closed-end fund focused on growth-stage, largely private companies including fintech and software. Comparable in its heavy weighting toward unlisted disruptive assets and use of public markets to provide access.
• BlackRock Throgmorton Trust: UK-listed investment trust focused on smaller, growth-oriented UK companies with active management style. Comparable as a smaller-companies growth mandate with similar concentration profile.
• Montanaro European Smaller Companies Trust: UK-listed investment trust specialising in European smaller quoted companies with a quality-growth bias. Comparable in mandate focus on smaller, growth-stage public companies across multiple geographies.
• North Atlantic Smaller Companies Investment Trust: UK-listed investment trust focused on smaller companies, particularly those listed in the UK and North America. Comparable mandate targeting smaller quoted growth companies with an active, high-conviction approach.

Emerging players

• Odyssean Investment Trust: UK-listed investment trust focused on UK smaller companies with an activist engagement approach. Comparable in smaller-companies exposure but with a more UK-centric and value-tilted orientation.

Broad incumbents

• JPMorgan Mercantile Investment Trust: UK-listed investment trust focused on UK smaller companies with broader diversified portfolio. Comparable structural peer (closed-end UK smaller companies mandate) though with a more diversified, less concentrated approach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCRMC0Hnl-KRfUdMeEu-Sssw
• LinkedInlinkedin.com/showcase/baillie-gifford-uk

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Edinburgh Worldwide Investment Trust