SCOTTISH MORTGAGE HITS BRAKES ON

TESLA STAKE

The £20bn Scottish Mortgage investment trust has cut its stake in Tesla. Manager Tom Slater said the explosive growth in its share price would slow. About 5.1pc of the fund is now invested in the car firm, down from 16pc at its peak. Tesla’s 700pc gain last year helped drive a 110pc return for Britain’s largest investment trust. Mr Slater said Tesla, run by entrepreneur Elon Musk (left), was the world’s most important green energy company, but its $750bn (£539bn) market cap meant growth would hit the brakes.

20%

Introducers took between 15-20pc commission for recommending investments in risky loan notes sold by German Property Group