Yes, I’ll probably do a follow-up piece on Schiehallion at some point – I did a pre-IPO piece in March 2019 then a very brief follow-up after six months so I could do with a refresher!

With Keystone and its bigger open-ended cousin, it’s definitely a very broad definition and less environmentally focused than the like of Impax and other sustainable funds from what I can tell.

There’s an interesting Liontrust launch coming up in this area soon: https://investegate.co.uk/liontrust-esg-trust/rns/intention-to-float/202105070700038486X/

Affirm was one of the first to list, and it popped on IPO day – the timing was right. It’s now down by… 50% and below the listing price.

Hopefully it’s still worth more than they paid, but given the volatility of these Unicorn companies on listing, the more that list, the more volatile the NAV may be.

The problem is that their ‘USP’ is that they don’t sell on IPO, unlike other VCs. But in the current market with such frothy valuations, selling on IPO does make sense in certain stocks (personally, I was always sceptical about Affirm – BNPL with an overreliance on Peloton as a client is not my bag), though I see the appeal of holding e.g. AirBnB and Stripe for the long-term.

Keystone… I’ll be honest, I don’t really get the ‘green’ angle here, but I suppose it’s good that it’s becoming more popular. It just so often feels box-ticking-y. I think the Stewart Sustainable team do the best job at this sort of thing.

Hi Faris, our family holdings are spread over a number of the major platforms but I’d rather not list them out here. I think Vanguard is fine if you want a relatively low-cost way of just holding their funds and ETFs but you’ll need another broker if you want to buy investment trusts and so on.

Monevator’s broker comparison table is the place I normally check to see how all the platforms compare on costs and main features: https://monevator.com/compare-uk-cheapest-online-brokers/

However, it’s worth noting that we are still seeing a fair amount of consolidation, such as ii’s purchase of EQi which is expected to take place this summer. So you could choose one broker only to see your account moved to another platform a short time later.

Thanks Phil. Interesting to hear that about Schiehallion although I have found some trusts can be easy to buy but a lot harder to sell in an equivalent volume. Of course, ideally, you don’t want to sell but it’s useful to have an exit plan in case things don’t pan out the way you expect.

You can look at BG’s 13-F disclosures in the US to get a feel for their largest holdings. This one allows you to sort by % held and you can see there are quite a few over 10%. Among KPC’s big holdings, BG is in quite deep with Moderna and Illumina.
https://whalewisdom.com/filer/baillie-gifford-co#tabholdings_tab_link