LF Lindsell Train UK Equity Acc

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Trading AccountISAJISASIPP

Fund Info

  • Yield History1.76%
  • 3 Year sharpe0.52
  • 3 Year alpha4.64
  • Distribution Typeaccumulation
  • BenchmarkFTSE AllSh TR GBP
  • Legal StructureOpen Ended Investment Company
  • Fund Size (month end)Open Ended Investment Company
  • OCF0.65%
  • IA SectorUK All Companies
  • Manager GroupLindsell Train
  • DomicileUnited Kingdom
  • ISINGB00B18B9X76

Investment Strategy

The investment objective of the Company is to invest in the securities of companies which are listed, quoted or dealt on any of the markets of the London Stock Exchange, including the Alternative Investment Market (AIM), with the objective of achieving capital and income growth and providing a total return in excess of that of the FTSE All-Share Index. It is the Company’s policy to invest primarily in ordinary shares, preference shares and convertible bonds listed, quoted or dealt in or any of the markets of the London Stock Exchange, including AIM. It is the Company’s policy not to invest in unlisted securities, other collective investment schemes, warrants, derivatives, immovables or gold.

ii Super 60 selected

This Fund is a member of our ii Super 60 rated list

The fund is managed by seasoned and talented UK equity manager Nick Train. It is run on a high concentration basis but had no liquidity issues during a period of large redemptions in 2019.

The top 10 stocks in Lindsell Train UK Equity account for over three quarters of the portfolio. Train highlights the liquidity inherent in his approach, which leads him to invest predominantly in well-established companies with multi-billion-pound market capitalisation. The fund has no unquoted/unlisted holdings and never has.

The manager stresses that he cares more about maintaining or growing the real value of investors’ capital and income over time than outperforming a stock market index. The investment process he uses across all his funds is based on his conviction that inefficiencies exist in the valuation of exceptional quoted companies. In his opinion, “excellent companies tend to create great wealth for their patient owners over time” – this is the effect he is aiming to capture with this strategy. Train finds most of his candidate investments in a select group of broad industry categories – financial services, beverages, personal goods and media. Favoured holdings include Diageo, Unilever and London Stock Exchange.

September 2020

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