I'm trying to invest in the recently LSE listed Schiehallion which I seem to remember has been mentioned here a couple of times recently.
I'm a HL platform user and they're not offering the stock, so I was wondering if anybody knew of a platform that did. I have asked HL to add it, but they've declined on the basis that it's not an investment suitable for retail investors.
Can anybody help?
Thanks
Jonathan
The S. fund is managed by Baillie Gifford. A quick look on their website suggests it is only available to Institutional/Professional Investors, consistent with what HL are saying to you.
https://www.bailliegifford.com...
You could try and contact BG directly and see if there is any way a retail investor can participate.
Gus.
If you want a more detailed explanation, here is the relevant blurb from the Admission Prospectus:-
“The C Shares are only suitable for investors: (i) who understand the potential risk of capital loss and that there may be limited liquidity in the C Shares of the Company (and in the Company’s underlying investments); (ii) for whom an investment in the C Shares is part of a diversified investment programme; (iii) who fully understand and are willing to assume the risks involved in such an investment portfolio; and (iv) who do not have an investment horizon of less than five years or a need for an ability to realise their investments for value on short notice. C Shares are only meant for non-retail investors but accessible to retail investors subject to certain conditions. As such, investors in the Company are expected to be: (a) investors that meet the definition of a ‘professional investor’ (as such term is understood in the context of the UK PRIIPs Laws); and (b) knowledgeable retail investors accompanied by professional advice or as part of a discretionary portfolio service. In each case they should have good knowledge and significant experience of investing in (i) closed ended funds traded on stock exchanges and understand the risk that there may at times be thin liquidity in the C Shares and that they may trade at a significant discount and (ii) private equity and other similarly limited liquidity asset classes; they should be able to bear and be willing to suffer a total loss of their investment in the C Shares; they should have at least a medium risk tolerance (and are at least willing to invest in products with an SRI of at least 4); they should be seeking long term capital growth (with investment horizons of over 5 years); and they should only invest in the Company as part of a broader portfolio of investments (under the advice of a professional investment adviser or included in a discretionary portfolio service, if they are retail investors). The C Shares are not considered appropriate for any investor who does not satisfy one or more of the above criteria. Investors should be aware that the price of the C Shares and any income from them can go down as well as up.”
