The £14.2bn Scottish Mortgage Investment Trusts will make at least £1bn available to buy back shares over the next two years.
The trust, which is the largest in the UK, has announced the move in a bid to reduce its 14 per cent discount.
It has already bought back £353mn of its shares over the past two years.
Scottish Mortgage manager, Tom Slater, said: "We own a portfolio of established companies achieving rapid expansion, propelled by enduring structural trends. We intend to pursue this opportunity with conviction."
Scottish Mortgage, managed by Baillie Gifford, holds more than 50 per cent of assets from the US and top holding is ASML which serves the microchip industry.
The portfolio also features Ferrari, SpaceX and Amazon.
Slater added: "Advances in foundational technologies are unlocking exciting new products, services, and business models.
"These well-funded public and private companies are shaping the future of the economy. The stock market has yet to fully recognise their progress, which creates the opportunity for us to buy the portfolio for less than its market value. In doing so, we can provide liquidity and augment returns for our shareholders."
Justin Dowley, chair of Scottish Mortgage since 2023, said the share buyback would enhance liquidity.
He said: "Our company has a strong balance sheet, and its portfolio companies are delivering strong operational results. We are acting upon this investment opportunity by materially increasing the capital available to our liquidity policy over the next two years with the aim of maximising returns for our shareholders."
In May last year, Slater called for investors to be patient after the share price fell 20 per cent, compared with the previous year.
It followed disagreements on the board which resulted in the departure of Amar Bhidé, who criticised the process to appoint two board members and the trust’s exposure to unlisted assets.
Bhidé also criticised McBain’s tenure on the board, which he subsequently left, followed a few days later by McBain, although the company said this was part of long-term succession planning.
Over the past 10 years, Scottish Mortgage's NAV has delivered a total return of 359 per cent compared to a share price increase of 291 per cent. The FTSE All-World Index has risen by 211 per cent over the same period (up to 29 February 2024).
tara.o'connor@ft.com
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