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The Mid Wynd Holding Company was launched 70 years ago as a parent to a successful Scottish textile business and its international subsidiaries. The business had begun in 1797 with a flax mill in Mid Wynd – the middle of three lanes, or wynds, in Dundee. Generations of the Scott family subsequently built it up, launching outposts in Calcutta, New York and Sao Paulo as well as an investment company to look after the group’s financial reserves. Over time the various textile businesses were sold off, leaving just the investment company managing the family investments. In 1981 this became an Investment Trust, allowing the general public to invest alongside the Scotts. Back then its assets were worth about £3.5m. Today many more investors entrust their wealth to Mid Wynd’s managers, Simon Edelsten, Rosanna Burcheri and Alex Illingworth, but representatives of the Scott family – Malcolm and Alan – are still on the Trust’s board. Here Malcolm explains why the family remain so committed to the Trust, how he sees his role on the board and why he is confident in the current investment approach.
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