Scottish Mortgage Investment Trust (LSE: SMT) is a publicly traded investment trust listed on the London Stock Exchange. It invests globally, looking for strong businesses with above-average returns. Scottish Mortgage is managed by Baillie Gifford & Co, the Edinburgh based investment management partnership.

The origins of Scottish Mortgage lie in a credit crisis, the Panic of 1907. By 1909 the growing popularity of the motorcar, including the Model T Ford, was creating significant demand for tyres, which rubber planters in Southeast Asia were keen to exploit, but credit was still difficult to obtain. In Edinburgh, the recently formed legal partnership between Colonel Augustus Baillie and Carlyle Gifford (which ultimately became Baillie Gifford & Co) spotted an opportunity. They established The Straits Mortgage and Trust Company Limited.” to lend money to the planters, secured on the rubber estates.

Source: Wikipedia