Will US 行動主義者 Elliott 生き返らせる Scottish Mortgage 株?
Scottish Mortgage 投資 信用 (SMIT) was once the toast of the City but its 落ちる from grace over the past two-and-a-half years has upset many 小売 同様に as institutional 投資家s.
Renowned for its 在庫／株 選ぶing under 星／主役にする 投資 経営者／支配人 James Anderson, who left in 2022 after 21 years at the 舵輪／支配, SMIT was the go to 基金 for UK 投資家s wanting 接近 to high growth 全世界の tech 会社／堅いs.
But since its 頂点（に達する） in November 2021 its 株 have fallen some 40 per cent to 875.8p as higher 利益／興味 率s 誘発する／引き起こすd a sell-off in 科学（工学）技術 在庫／株s.
There have been 調印するs of 回復 since the turn of this year but the 株 price 証拠不十分 left the Edinburgh-based 投資 信用 攻撃を受けやすい, and last Friday Elliott 管理／経営 pounced.
The US hedge 基金 明らかにする／漏らすd it is now the company's largest 株主 with a 5 per cent 火刑／賭ける 価値（がある） around £600million.
Elliott has been slowly building the 火刑／賭ける since the end of 2023, buying 0.5 per cent of the 信用's 株 同様に as an 付加 4. 75 per cent in 公正，普通株主権 交換（する）s, crossing the 5 per cent threshold on March 19.??
The 基金 has a formidable 評判 ? an 行動主義者 投資家 that has never been afraid to 器具／実施する 'hardball 策略' ーするために get what it wants.
Owned by Paul Singer, who 設立するd the company in 1977, the 会社／堅い built its 評判 as an 投資家 in 苦しめるd 政府 負債.
In the UK, Elliott has 衝突／不一致d with GSK ? at one point 開始する，打ち上げるing a （選挙などの）運動をする to 決定する if 長，指導者 (n)役員／(a)執行力のある Emma Walmsley was the 権利 person to lead the 麻薬 company ? 同様に as energy 会社／堅い SSE and 鉱夫 BHP.
Elliott also owns 調書をとる／予約する shop Waterstones and was recently 不成功の in a 企て，努力，提案 for 電気の retailer Currys.
How Elliott helped 同盟 Trist's 復活
Elliott has history in Scotland, taking 目的（とする） at Dundee-based 同盟 信用 more than a １０年間 ago.?
It 投資するd in 2010, criticising the 投資 group's poor 業績／成果, high costs and loss-making 子会社s, 含むing 同盟 信用 投資s and the online 貿易（する）ing 壇・綱領・公約 同盟 信用 貯金.
The （選挙などの）運動をする broke into open 戦争 in 2015 with the 追い出すing of 長，指導者 (n)役員／(a)執行力のある Katherine Garrett-Cox and the （疑いを）晴らすing out of the board.
同盟, like SMIT, had a big 小売 base and after six years of turbulence 結局 agree d to buy out Elliott's 19.75?per cent 火刑／賭ける.
Interview: Scottish Mortgage's Tom Slater?
（疑いを）晴らす 見通し: Scottish Mortgage's lead 投資 経営者／支配人 Tom Slater, with Wealth's Jeff Prestridge
Jeff Prestridge speaks to Scottish Mortgage 経営者／支配人 Tom Slater to get his 見解（をとる） on the 信用's 最近の struggle and 未来 prospects.
> Interview: Jeff Prestridge speaks to Scottish Mortgage's Tom Slater?
One 投資 助言者 did not 支配する out 類似の trouble at SMIT, 説: 'These two who are now 伴う／関わるd with each have very different cultures.?
SMIT is part of the Scottish 設立, 反して Elliott is 積極的な and proud of it.'
So far the language between Elliott and Scottish Mortgage is cordial, with the two 始める，決めるs of 管理／経営 on speaking 条件.?
Elliott partner Nabeel Bhanji said on Friday: 'We are 感謝する for the 対話 we have had with the board and 管理／経営 of Scottish Mortgage in 最近の months and look 今後 to continuing our 約束／交戦.'
Justin Dowley, who 議長，司会を務めるs SMIT, replied: 'We have been in 接触する, as we often are with 株主s.'
But for how long the discourse remains civil is yet to be seen.
Formely formidable: Since 急に上がるing to a 頂点（に達する） in November 2021 Scottish Mortgage 株 have fallen some 40% as h igher 利益／興味 率s 誘発する／引き起こすd a sell-off in 科学（工学）技術 在庫／株s
Will Elliott encourage Scottish Mortgage to sell unlisted 在庫／株s?
によれば sources, Elliott wants SMIT to 解除する the valuation of its 大臣の地位 by selling off chunks of its 投資s.
In particular 焦点（を合わせる） are the 会社／堅い's unlisted 在庫／株s which now （不足などを）補う 35 per cent of the 大臣の地位. の中で them are Bytedance, the owner of Tik Tok, and Elon Musk's Space X.
The 基金's growing appetite for 私的な companies has drawn 批評 from 分析家s and 投資家s alike and means it runs at a 執拗な 割引 to 逮捕する 資産 value にもかかわらず the company earlier this month 説 it would make £1billion 利用できる for 株 buybacks over the next two years.
Elliott believes the 信用 has undervalued these 私的な 資産s and that it should 安心させる the market about their value by selling 部分s of its holdings when companies such as space 探検 科学（工学）技術s 会社／堅い Space X do 私的な 株 buybacks.
Neil Wilson, an 分析家 at Markets.com, said: 'The unquoted element of the 大臣の地位 has left them exposed. Elliott has spotted a valuation 証拠不十分 and is 的ing it.'
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