132-year-old Scottish Investment Trust launches digital hub

SIT has teamed up with Iona Bain, founder of the Young Money blog, to promote the digital hub launch. Picture: Contributed
SIT has teamed up with Iona Bain, founder of the Young Money blog, to promote the digital hub launch. Picture: Contributed
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The 132-year-old Scottish Investment Trust (SIT) is modernising its offering with the launch of an online learning hub, as it seeks to expand its reach to a younger audience of investors.

SIT, which is listed on the London Stock Exchange and is a member of the FTSE 250, today pushes the button on its new online portal which is aiming to target investors “looking for a different perspective”.

To promote the launch, the self-managed trust has partnered with Iona Bain, founder of the Young Money blog, a site which helps young people better understand personal finance.

Bain will present a three-part video series entitled “Money… what’s it all about?” which will examine the evolution and importance of money, its management, and how investors can “weather” fluctuations in the stock market.

The online learning hub aims to share insights on topics affecting the investment industry, such as investment apps, crowdfunding and cryptocurrencies.

It will also provide users with access to the Association of Investment Companies’ (AIC) investing basics guide and explain the benefits of investment trusts.

SIT, which managed assets of more than £780 million as of 30 April, is one of the oldest investment trusts.

It has increased its regular dividend for 34 consecutive years, resulting in recognition by the AIC as a “dividend hero”, a status that is awarded to a trust that has raised its dividend annually over at least the past 20 years.

The trust said that its new digital offering ties into its “clear communication” approach of explain its contrarian market strategy to investors.

Chairman James Will said: “The development of our learning hub embodies the educational and plain English approach we have long taken when communicating with our investors. Financial literacy is an essential life skill.”

Bain added: “People today are faced with an overwhelming and sophisticated financial world. They may not be aware of the benefits of investing or the full spectrum of opportunities available to them to grow their money in the long-term.

“The Scottish is a trust I have long followed and I have seen them present straightforward explanations of market conditions. I am proud to be working with them on this important initiative.”

In 2017 Bain also established the Young Money Agency, which promotes a fair and informed view of the financial sector.