In the thick of the credit crisis of 1907, Carlyle Gifford and Augustus Baillie spotted an opportunity and moved to capitalize on it. In 1909, the two legal partners formed Baillie Gifford & Co Ltd to administer The Straits Mortgage and Trust Company Limited to provide credit to rubber planters. Fast expansion of the business due to the high demand for credit and rebounding confidence in the economy led to rebranding of the company. The new company was called The Scottish Mortgage and Trust Company Limited, and it adopted the business strategy and operations of a normal investment trust.
Currently, the company invests in equities that show great potential for growth. Resultantly, investors get a low-cost opportunity to grow their money through investment. Baillie Gifford considers Scottish Mortgage and Investment Trust as its flagship investment trust. The fund trades on the London Stock Exchange as SMT and comprises the FTSE 100 component. The company has its base in Edinburgh, Scotland.