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The Scottish American Investment Company () is a publicly traded investment trust listed on the London Stock Exchange. It invests in a broad range of UK and international assets. The Scottish American Investment Company is managed by Baillie Gifford & Co Limited, the Edinburgh based investment management partnership. ==History== The Scottish American Investment Company P.L.C., also known as SAINTS, has been in existence since 1873 which makes it one of the oldest investment trust companies still in existence. SAINTS was initially formed as The Scottish American Investment Company Limited by William Menzies in March 1873. Menzies was an Edinburgh lawyer who had visited the United States on several occasions during the 1860s and was struck during those visits by the wealth of investment opportunities in that young and rapidly growing nation. Among the other co founders was Dundee and later London financier Robert Fleming.〔(Capitalism in a Mature Economy: Financial Institutions, Capital Exports and British Industry, 1870-1939 )〕 Initially, SAINTS invested solely in bonds issued by North American railroad companies. However, the investment portfolio broadened out over time to include shares as well as bonds and industrial, commercial and public utility companies. SAINTS has survived numerous events and crises in its long history. Perhaps the most important, in terms of its influence on the future direction of SAINTS, was the First World War. This conflict placed great strain on the nation's finances and companies such as SAINTS were required to sell some of their overseas investments and invest the proceeds in UK government debt. When the war ended, restrictions on new foreign investment encouraged the Company to invest in UK companies. From this point onwards, SAINTS investment portfolio has included both UK and overseas investments. As well as adapting its investment portfolio to changing conditions, the Company has also had to be flexible in how it conducts its affairs. Until 1970, the Company managed its investments itself but this changed in 1970 when Stewart Fund Managers Limited was appointed to manage SAINTS. Stewart Fund Managers and various successor companies acted as SAINTS' manager from that point until 31 December 2003 when management of the portfolio passed to Baillie Gifford & Co Limited.〔(Herald Scotland )〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Scottish American Investment Company」の詳細全文を読む スポンサード リンク
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