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Re:

Scottish Mortgage Returns: 1-, 5- and 10-Year Performance to 31 March 2026

Scottish Mortgage’s share-price total returns to 31 March 2026 were 26.8% over one year, 7.1% over five years and 379.7% over ten years—cumulative, not annualised.
From TheFinanceBase Team2 min to read
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Scottish Mortgage Investment Trust’s share-price total return was 26.8% over the year, 7.1% over five years and 379.7% over ten years to 31 March 2026. Those are cumulative returns in sterling, not annualised rates. The available price evidence supports describing 1,651.00 as a recent 52-week high—not a verified all-time high.

Scottish Mortgage’s 1-, 5- and 10-year returns

The trust’s 2026 annual report gives the following share-price total returns for periods ending 31 March 2026:

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Period Scottish Mortgage share-price total return FTSE All-World total return
1 year 26.8% 18.0%
5 years 7.1% 68.2%
10 years 379.7% 233.9%

All figures in the table are cumulative total returns in sterling to 31 March 2026, not annualised returns. On these matching periods, Scottish Mortgage beat the FTSE All-World over one and ten years but lagged it over five years. The report also gives the index’s three-year return as 50.5%; it is not included in the table because the trust share-price figure requested here is for one, five and ten years.

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How NAV performance compares with the share price

A trust’s share-price return and its net asset value (NAV) return measure different things. NAV represents the value of the trust’s underlying assets less liabilities per share; the market price is what investors pay for a share. For the same periods to 31 March 2026, the annual report gives NAV total returns after borrowings at fair value of 27.4% over one year, 12.8% over five years and 435.2% over ten years.

The share-price return can diverge from NAV performance because the shares may trade at a premium or discount to NAV. A price below NAV is a discount; a price above NAV is a premium. The official investor snapshot dated 6 October 2026 showed an estimated fair-NAV discount of 8.9%. That is a point-in-time figure, not a fixed rate or a substitute for the return figures ending in March.

Has Scottish Mortgage reached a new all-time high?

A market summary reported an intraday 52-week high of 1,651.00. That establishes a high for the preceding 52 weeks, not a record for all trading history. Separately, Scottish Mortgage’s investor page listed a closing mid-price of 1,626.75p on 6 October 2026. The two figures refer to different price measures and dates, so neither should be presented as proof of an all-time high.

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How to interpret the returns

  • Cumulative is not annualised: the 379.7% ten-year share-price return describes the total change over the full period, not the average return in each year.
  • Dates must match: the figures above all end on 31 March 2026. The trust’s performance page says its chart data are to 31 August 2026, but those later chart dates do not change the annual-report figures shown here.
  • Past performance is not a forecast: the trust warns that past performance is not a guide to future returns. Investment value can fall, and an investor may not get back the amount invested.

Sources

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