THE £332 million Edinburgh Worldwide Investment Trust has highlighted strong returns from its holdings in Californian electric vehicle pioneer Tesla and US-based company iRobot, which has seen rising demand for automated vacuum cleaners.

Edinburgh Worldwide, managed by Scottish investment house Baillie Gifford, highlighted its “long-term approach of investing in innovative companies that are seeking to solve large problems”, as it reported a 10.6 per cent rise in net asset value for the six months to April 30.

This advance was ahead of a 6.4 per cent increase in the S&P Global Small Cap Index, in sterling terms, over the same period.

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The investment trust noted that Skyscanner had exited its portfolio as a result of the Edinburgh-based flight search engine pioneer’s acquisition in December by Ctrip, the Chinese travel services group. Skyscanner is one of Scotland’s major technology success stories.