The Scottish Investment Trust is an independently managed investment trust company which was formed in 1887 to provide investors with an efficient way to invest in companies around the world. To provide investors, over the longer term, with above-average returns through a diversified portfolio of international equities and to achieve dividend growth ahead of UK inflation. They are contrarian investors. They believe markets are driven by cycles of emotion rather than dispassionate calculation. This creates profitable investment opportunities. They take a different view from the crowd. They seek undervalued, unfashionable companies that are ripe for improvement. They are prepared to be patient. They back their judgement and run a portfolio of their best ideas, selected on a global basis. They portfolio is unlike any benchmark or index and they fully expect to have differentiated performance. Their approach will not always be in fashion but they believe it delivers above-average returns over the longer term, by which they mean at least five years.