Scottish Mortgage Investment Trust

Drp8713

Hi,

Does anybody invest directly thorough Baillie Gifford into this trust?

I have completed all of the forms to set up a bare trust for my son.

The only thing I can't see clearly in their terms and conditions is, they say they only buy whole shares with your monthly contributions, fair enough, they say you don't get any interest on cash held in the account, fair enough.

But as far as I can see they don't say when the left over cash from each months contribution is pooled together and reinvested?

I would assume it should be every time it is enough to buy more than one whole share and would be purchased at the time of the next monthly contribution but definitely can't see this in the literature.

Does anybody know this from experience?

Thanks

le_loup

The balance of money is held in your account and added to your next instalment ... which may leave some more and so on. Reinvested divis are also added to any cash in you account and used for the next purchase day.

Drp8713

Thanks. That makes sense.