Top 25 holdings

Please remember that past performance will not necessarily be repeated and is no guide to, nor guarantee of, future returns. The value of shares and the income from them can go down as well as up as a result of market and currency fluctuations and investors may not get back the amount originally invested.  SIT has a long term policy of borrowing money to invest in equities in the expectation that this will improve returns and, should stockmarkets fall, such borrowings would magnify losses on these investments.  For planning purposes, an investment in The Scottish Investment Trust PLC should be viewed as a long term commitment. All sources SIT unless otherwise stated. Industry Classification Benchmark (ICB):  Source and copyright© FTSE International Limited and Dow Jones & Company, Inc. All rights therein are reserved. ICB is jointly owned by FTSE and Dow Jones and has been licensed for use. FTSE and Dow Jones do not accept liability to any person for any loss or damage arising out of any error or omission in the ICB,