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Elon Musk’s area exploration firm SpaceX has been all around the information following experiences of a possible $2trn IPO. However with SpaceX nonetheless a non-public firm, how can FTSE 100 traders get in on the motion?
UK-based non-public fairness funds
As soon as the corporate is listed on world inventory markets, the value is more likely to skyrocket. It’s already attracted huge hype since Musk introduced his IPO ambitions.
However ready for the IPO means doubtlessly lacking out on the early hype-driven development. Luckily, non-public fairness funding funds supply a manner for on a regular basis traders to realize publicity to unlisted firms.
So FTSE traders trying to achieve publicity to SpaceX within the run as much as the IPO ought to think about one of many following shares:
Scottish Mortgage Funding Belief (LSE: SMT).
US Development Belief.
Schiehallion Fund.
Let’s take a better have a look at Scottish Mortage and see why the shares are up 19% up to now month.
Variety with a tech mindset
Scottish Mortgage Funding Belief is a UK-listed world development fund managed by Baillie Gifford. Launched in 1909, it’s one of many longest operating and hottest FTSE-listed funding trusts.
Not too long ago, it boosted its SpaceX publicity to 19.3%, which drew loads of consideration. That’s a big allocation and underlies a excessive diploma of conviction within the firm’s success.
However it’s not all about SpaceX. The fund’s broadly diversified, not simply inside numerous tech sectors but in addition globally. Except for the likes of Amazon and Tesla, a few of its extra numerous holdings embody MercadoLibre, Denali Therapeutics and Zipline.
However a core theme is disruptive tech, which makes it a high-risk/high-reward funding. With no dividend to talk of, it’s virtually completely growth-focused, which can lead to excessive volatiliy at occasions.
For instance, in the course of the 2008 monetary disaster, the fund misplaced 50% of its worth in a number of months. However by 2011, it clawed all of it again. The same factor occurred in 2022 however now the share worth is as soon as once more at new all-time highs.
So for traders contemplating the shares, it’s vital to go in with a long-term mindset and never panic throughout downturns.
Key fund data as of 20 April 2026:
Share worth: 1444p.
NAV: 1386.35p.
Premium/Low cost: +4.2%.
Ongoing Costs: 0.31%.
Complete Belongings: £15,431.55m.
How does it examine?
For British traders eyeing SpaceX publicity, I feel Scottish Mortgage is essentially the most interesting inventory to contemplate. Nonetheless, it’s value weighing it up in opposition to different non-public fairness trusts.
US Development Belief invests predominantly in listed US development shares, specializing in bigger‑cap, excessive‑high quality names. It’s extra like a standard actively‑managed development fund relatively than a mix of private and non-private firms.
In the meantime, Schiehallion is described because the ‘purest’ model of Baillie Gifford’s non-public‑fairness publicity. It invests in later‑stage, minority stakes in non-public companies which will at some point listing.
Closing ideas
With regards to FTSE-listed shares which have SpaceX publicity, Scottish Mortgage achieves a good stability. It’s not as coventional as US Development however extra liquid and tradable than Schiehallion.
Regardless of the eventual end result of the IPO, the fund’s confirmed historical past of sturdy efficiency helps a long-term funding narrative.
Nonetheless, it wouldn’t damage to contemplate a small allocation in every fund, alongside a various mixture of particular person development and earnings shares.
