Lindsell Train Investment Trust (LTI) has announced the partial disposal of its holding in Lindsell Train Limited (LTL), the boutique fund management firm it co-founded and remains heavily invested in.
According to an update released this morning, LTI has agreed to sell 32 shares in LTL to executive employees of the company. The shares are being sold at the prevailing valuation of £8,489.22 per share, based on the most recent assessment dated 28 February 2025. The total consideration for the transaction is just over £271,655. Following the sale, LTI’s holding in LTL will fall to 6,301 shares.
LTI has not indicated any change to its strategic relationship with LTL, nor has it signalled a wider programme of disposals. Nonetheless, any movement in LTI’s LTL holding tends to be watched closely by investors.
[QD comment MR: While modest in scale – representing around 0.5% of LTI’s LTL position – the move is notable as it continues a pattern of measured disposals by LTI, of its holding in LTL, that are aimed at broadening ownership of LTL among key personnel to incentivise them for the future. Although down from its peak, reflecting outflows from the fund management business (you can read more about this in our recent note on LTI – click here to read) LTL still remains a significant component of LTI’s net asset value and therefore its performance.]
