Is Scottish mortgages a good buy

Scottish Mortgage Investment Trust plc (SMT) appears to be a good buy based on the following analysis:

1. Strong Fund Performance: SMT has reported an NAV total return of 11.5% in the annual results to the end of March, which is a significant improvement over the previous year.
2. Diversified Portfolio: SMT's portfolio is diversified across various equity holdings, with a concentration on growth trends such as AI, healthcare, and renewable energy. This diversification is likely to mitigate risk and enhance long-term returns.
3. Manager's Strategy: The trust's managers, Tom Slater and Lawrence Burns, have a patient buy-and-hold approach and aim to maximize total returns over the long term. This strategy has been successful thus far, with the trust's performance figures indicating robust growth.
4. Attractive Valuation: SMT's share price is trading at a discount to its net asset value (NAV), which can present an opportunity for investors to buy in at a lower price. The company's buyback program and commitment to facilitating trading around NAV also suggest a strong management team focused on shareholder value.
5. Market Conditions: Despite challenges in the Scottish mortgage market, such as higher interest rates and affordability constraints, SMT's investment focus is not directly tied to mortgages, which may offer some protection from these market-specific issues.

In conclusion, SMT's strong fund performance, diversified portfolio, and attractive valuation make it a compelling investment option for those seeking exposure to growth sectors and a potentially rewarding long-term investment.