Lindsell Train suffers as consumer bets fall flat

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Nick Trayne, one of Britain’s most renowned fund managers, said he suffered “probably the worst relative investment performance period” in 20 years as tech stocks overtook bets on the world’s largest consumer group. rice field.

The Lindsell Train Investment Trust achieved a total return of 5.6% in the six months to the end of September, below the 10.2% recorded by the trust benchmark MSCI World Index.

Train, which co-founded Michael Lindsell and Lindsell Train in 2000, may compare a buy-and-hold approach to a small number of equities with billionaire US investor Warren Buffett.

However, the trust’s return on investment has been below the benchmark since April 2020, when the pandemic helped accelerate the performance of the already dominant tech sector.

The trust suffered a net outflow of £ 734m in the six months to September. Train and Lindsell, which have gained significant retail enthusiasts, brought in just £ 152 million in new funding last year, compared to over £ 2 billion each in the last three years.

Trust Chair Julian Casalet spotted on Tuesday partly because of poor performance, “not enough exposure to software / platform technology,” and the trust “invested more in that category.” You might expect it. ”

However, Train showed no signs of ripping its stock portfolio, which had remained unchanged for six months, including Unilever and Oreo cookie maker Monderes.

Train explained his investment strategy on Tuesday, writing that “we will continue to support companies with intellectual property.” .. .. We know that consumers love the game groups Nintendo, AG Barr, IRN-BRU producers, Unilever, and more, and we can’t run a business without a company.

“Unilever has always seemed boring to trade-minded investors,” he said, but the outlook should be underestimated given the growth of Indian businesses and personal care brands such as dub. is not.

In October, a UK fund manager said, “Unilever looks terrible pedestrian in the month when Tesla rose 44%.” Electric vehicle manufacturers are star performers of managers such as Cathie Wood’s Ark Invest in the United States and Edinburgh-based managers. Baillie Gifford..

However, good performance of technology has declined in the last two months. Drag down performance with something like an arc..

Some of Lindsell Train’s other funds are also facing difficulties. Last month, the investment platform Interactive Investor announced that it would consider recommending the Lindsell Train Japanese Equity fund to retail buyers due to performance concerns.

In investment trusts, some of the biggest holdings, such as the London Stock Exchange, Unilever, Heineken, AG Bar and Nintendo, are suffering, each of which has fallen by more than 20% “from recent peak prices”, the company said.

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The post Lindsell Train suffers as consumer bets fall flat appeared first on California News Times.

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