- Baillie Gifford's management highlighted Moderna, Telsa, and SpaceX on the six-month report of the American Growth Trust.
- Nearly 6% of assets are invested in Zoom (ZM) and Netflix (NFLX), which have increased in use during the COVID-19 pandemic.
- Virgin Orbit is now the third so-called "New Space" company, after SpaceX and Rocket Lab.
Baillie Gifford American Growth Trust (USA.L) said on Monday that its investment’s net asset value had risen by 53.8 percent in the six months ending November 30, 2020. The net revenue before tax of the trust was £266 million ($359.9 million). That’s 98 pence per share.
The fund invested approximately £810 million in customer funds through bets on companies like Moderna (mRNA), which last year produced the vaccine against COVID-19.
Tesla (TSLA) shares last year increased by 700 percent. Money managers are Tesla’s fourth-largest investor, and Tesla was the most profitable US stock last year.
Since its listing in 2018, the US Growth Trust has retained Moderna. The COVID-19 vaccine was the first commercial product of the company last year. The fund said of Moderna:
“Success with one drug tells you nothing about the probability of success with the next. But we may be entering a new era for drug development. One of true platforms, where success begets success. A cohort of biotechnology companies are emerging which are built upon foundational technologies which may be reusable across multiple diseases and disease categories. We think Moderna could be one such company.”
Baillie Gifford’s management highlighted Moderna, Telsa, and SpaceX on the six-month report of the American Growth Trust, and said many of the Fund’s holdings have performed well.
Nearly 6% of assets are invested in Zoom (ZM) and Netflix (NFLX), which have increased in use during the COVID-19 pandemic. The confidence has also invested heavily in online retailers like Amazon (AMZN) and Wayfair (W), as well as in payment firms like Shopify and Stripe.
The US Growth Trust was set up in 2018 to fund public and private businesses in the US focused on long-term investment. Until early 2020, the S&P 500 index was effectively tracked by performance.
While the US Growth Trust returned over 50% by the end of November, the S&P 500 Index returned 11.1% in pounds from the UK. In the six months until the end of November, the US Growth Trust’s share price increased by 50%. On Monday, the stock rose 0.8%.
Virgin Orbit Launches Rocket in to Space
A rocket of 70 feet high, operating under the wing of the modified Boeing 747, broke from the plane and launched into Earth’s orbit on Sunday, the first successful launch of Virgin Orbit in California.
Before the rocket was released, the plane flew over the Pacific Ocean, launching the LauncherOne rocket, enabling the rocket engine, and speeding more than 17,000 miles per hour to start orbiting the earth.
According to telemetry, LauncherOne has reached orbit! Everyone on the team who is not in mission control right now is going absolutely bonkers. Even the folks on comms are trying really hard not to sound too excited.
The team wrote, “we are so, so proud to say that LauncherOne has now completed its first mission to space.”
On behalf of the National Aeronautics and Space Administration (NASA), the rocket launched a group of small satellites that allows high school and college students to design and install small satellites that are started at the expense of NASA Space.
The nine tiny satellites that Virgin Orbit flew on Sunday include the University of Colorado at Boulder’s satellite temperature control, a satellite to investigate how small particles collide in space, and the University of Florida’s experimental radiation sensing satellite.
About four hours after Saturday’s departure, Virgin Orbit confirmed in a tweet that all the satellites are in target orbit successfully.
This successful mission has put Virgin Orbit as the third so-called “New Space” company, after SpaceX and Rocket Lab (a startup that wants to revolutionize traditional industries by means of innovative technologies).
This success also paved the way for the launch of satellites for many already-connected customers, including NASA, the military, and private sector companies, using satellites for commercial purposes.
Virgin Orbit was separated from Virgin Galactic, a suborbital human space flight company, in 2017. On the LauncherOne rocket, VirginOrbit carried out multiple “drop tests” involving a flight over the Pacific Ocean, and a review into the sea.
The Virgin Orbiter first tried to orbit last May. Shortly after the launch, LauncherOne failed and the flight was stopped. This loss was not expected.