Overview
Lindsell Train Investment Trust aims to maximise long-term total returns with a minimum objective to maintain the real purchasing power of Sterling capital. It invests in a wide range of financial assets including equities, unlisted equities, bonds, funds, cash and other financial investments globally with no limitations on the markets and sectors in which investment may be made, although there is likely to be a bias towards equities and Sterling assets, consistent with a Sterling-dominated investment objective; in Lindsell Train managed fund products, subject to board approval, up to 25% of its gross assets; and in Lindesll Train Limited (the manager), where its holding was 24.3% at end March 2022. It should, therefore, benefit from any growth of the business of the company’s manager.
you can access its website here
Fundamentals
Price
Research History
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13 Mar 2025 29 min read
Lindsell Train Investment Trust – Form is temporary, class is permanent
Form is temporary, class is permanent The unique nature of Lindsell Train Investment Trust’s (LTI’s) structure has weighed on its performance over the past four years, after it had enjoyed sustained and monumental success over the preceding two decades. Firstly, the active management approach that is the hallmark of Lindsell Train funds, which is centred […]
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28 min read
Lindsell Train Investment Trust – Form is temporary, class is permanent
Form is temporary, class is permanent The unique nature of Lindsell Train Investment Trust’s (LTI’s) structure has weighed on its performance over the past four years, after it had enjoyed sustained and monumental success over the preceding two decades. Firstly, the active management approach that is the hallmark of Lindsell Train funds, which is centred […]
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28 min read
Lindsell Train Investment Trust – Form is temporary, class is permanent
Form is temporary, class is permanent The unique nature of Lindsell Train Investment Trust’s (LTI’s) structure appears to have impacted its performance over the past four years, after it had benefited from two decades of strong absolute and relative performance. LTI’s managers see two main causes. First, they say that the active management approach that […]
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14 Sep 2023 9 min read
QuotedData’s Investment Companies Roundup – September 2023
September 2023 Monthly roundup | Investment companies Kindly sponsored by abrdn Winners and losers in August 2023 Share price total returns for investment companies were generally poor over August, with the best performing sector, Debt – Structured Finance, returning just 2.1%, with only a few sectors managing to eke out a positive total return. Funds […]
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19 Jun 2020 1 min read
QuotedData’s weekly roundup 19 June 2020
James Carthew’s weekly news roundup show for Friday, 19 June, covers investing in batteries, Tritax Big Box REIT’s new shed for Amazon, the potential demise of Gabelli Value Plus+ (we always hated the ‘+’), why Lindsell Train’s managers should have taken the performance fee that they earned and European Opportunities big loss on Wirecard. It also […]
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10 Mar 2020 7 min read
QuotedData’s Investment Companies Roundup – March 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over February: An initiation note on Montanaro UK Smaller Companies Trust (MTU) […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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10 Jan 2020 5 min read
QuotedData’s investment companies roundup – January 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Income Events New research Here is a list of research we published over December: An update note on BlackRock Throgmorton (THRG) “BlackRock Throgmorton continues to lead its peer group in […]
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8 min read
QuotedData’s economic roundup – January 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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15 Oct 2019 7 min read
Investment companies quarterly roundup – Third quarter 2019
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford New research Over the third quarter, we published notes on India Capital Growth, Jupiter Emerging & Frontier Income, Montanaro European Smaller Companies, JLEN Environmental Assets, Civitas Social Housing, JPMorgan Russian Securities, International Biotechnology Trust, Aberdeen Emerging Markets, Seneca Global Income & Growth, Standard Life Investments Property Income […]
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07 Oct 2019 5 min read
QuotedData’s investment companies roundup – October 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over September, we published notes on India Capital Growth, Jupiter Emerging & Frontier, International Biotechnology Trust, JPMorgan Russian Securities, Civitas Social Housing, Montanaro European Smaller Companies and JLEN Environmental Assets. We also launched a monthly real estate roundup, beginning with reviews of August and September. In […]
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07 Aug 2019 3 min read
QuotedData’s investment companies roundup – August 2019
Investment Companies Roundup New research Over July, we published notes on CQS New City High Yield, BlackRock Throgmorton, Strategic Equity Capital, Seneca Global Income & Growth, CG Asset Management, Standard Life Investments Property Income and Aberdeen New Dawn. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – appetite […]
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12 Jul 2019 6 min read
Quarterly investment companies roundup – Second quarter 2019
Quarterly investment companies roundup – Second quarter 2019 QuotedData news Global equities re-found momentum in June after a cautious April and May. How much longer this ten-year bull market can sustain itself continues to be the subject of much debate. The prospect of interest rate cuts in the US has re-invigorated sentiment for the time […]
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05 Jul 2019 6 min read
QuotedData’s economic roundup – July 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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3 min read
QuotedData’s investment companies roundup – July 2019
Investment Companies Roundup New research Over June, we published notes on CQS Natural Resources Growth and Income, Standard Life Private Equity and Shires Income. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – there was a greater appetite for risk in June as […]
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07 Jun 2019 3 min read
QuotedData’s investment companies roundup – June 2019
Investment Companies Roundup New research Over May, we published notes on Shires Income, Standard Life Private Equity and The North American Income Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was notable that risk appetite was down in May as renewed […]
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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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15 Aug 2018 1 min read
QuotedData’s investment companies roundup – August 2018
QuotedData’s investment companies roundup – August 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in July Tritax EuroBox raised its maximum target of £300 million in an […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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13 Mar 2018 1 min read
QuotedData’s investment companies roundup – March 2018
QuotedData investment companies roundup – March 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2018. Kindly sponsored by Baillie Gifford. Equity markets continued to run up in early February, supported by strong corporate earnings […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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11 Dec 2017 1 min read
QuotedData’s economic round up – December 2017
QuotedData’s economic round up – December 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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14 Feb 2017 1 min read
QuotedData investment companies roundup – February 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2017. Kindly sponsored by Baillie Gifford. February Investment Companies Roundup
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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07 Dec 2016 1 min read
QuotedData investment companies roundup – December 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2016. december-investment-companies-roundup
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1 min read
QuotedData’s round up of views on the global economy – December 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. december-economic-and-political-roundup
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08 Nov 2016 1 min read
QuotedData investment companies roundup – November 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2016. november-investment-companies-roundup-2
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
News
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11 Apr 2025 5 min read
QuotedData’s morning briefing 11 April 2025 – RIII, HGEN, LWDB, MTE, GCP, LTI, ALW, MINI, AGT, VNH, BBGI
In QuotedData’s morning briefing 11 April 2025: [QD comment MR: MTE has recently put in place a number of proposals designed to improve its attractiveness to shareholders and, while discounts have in many instances been widening across the investment companies space in recent months, MTE’s has been on a broad narrowing trend having moved down […]
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24 Mar 2025 1 min read
Lindsell Train Investment Trust trims LTL stake in staff deal
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 […]
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23 Jan 2025 1 min read
QuotedData’s morning briefing 23 January 2025 – TENT, JARA, SURE, LTI
In QuotedData’s morning briefing 23 January 2025: Triple Point Energy Transition (TENT) has issued a circular, convening a meeting to liquidate the company. The managed wind-down is effectively complete, the company is just waiting on some deferred sale proceeds. There’s cash of £47.6m, which accounts for most of the NAV of 49.3p per share. If […]
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03 Dec 2024 3 min read
QuotedData’s morning briefing 3 December 2024 – HGT, CRS, PSH, LTI, PRSR, DLN, AIRE
In QuotedData’s morning briefing 3 December 2024: HgCapital Trust (HGT) Hg, the manager of HgCapital Trust, today announced that it has agreed the sale of Dext Software Ltd, a leading bookkeeping automation platform provider, to IRIS Software Group, a leading global provider of accountancy, education management, HR and payroll solutions. The terms of the transaction […]
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12 Jun 2024 2 min read
Challenges continue for Lindsell Train
The Lindsell Train Investment Trust (LTI) announced its annual results for the year to 31 March 2024. The company saw a NAV total return of 2.1%, a significant underperformance of the MSCI World Index which returned 22.5%. Shares fell 19.8%, leading the discount to widen significantly. The company noted that the sharp widening of the […]
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05 Dec 2023 3 min read
QuotedData’s morning briefing 5 December 2023 – PNL, IEM, LTI, PCTN, HLCL, HOME, TOWN, SHC
In QuotedData’s morning briefing 5 December 2023: Personal Assets Trust (PNL) announced its interm report for the six months to 31 October 2023. The company’s NAV fell by 2.7% while shares fell 4.5% with shares falling to a discount of around 1%. The company continues to be positioned defensively with almost 40% of the fund […]
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13 Jun 2023 2 min read
Outperformance for Lindsell Train but still a long way back
The Lindsell Train Investment Trust announced its annual results for the year end March 31 2023. The company’s net asset value per share fell 5% during the period, although the payment of the company’s total annual dividend of £53.00 per share in September 2022 ensured that the NAV total return was only fractionally down, by […]
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17 Jun 2022 1 min read
QuotedData’s weekly news show 17th June 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Lindsell Train • Montanaro UK Smaller Companies • Boussard & Gavaudan This week’s interview was with Laura Elkin from AEW UK REIT – watch […]
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15 Jun 2022 2 min read
Lindsell Train Investment Trust highlights three factors for second year of underperformance
Lindsell Train Investment Trust highlights three factors for second year of underperformance – Lindsell Train Investment Trust (LTI) has posted its annual results for the 12 months to 31 March 2022, during which time it suffered a second consecutive year of disappointing relative performance as compared to its recently introduced equity benchmark – the MSCI […]
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07 Apr 2022 2 min read
Lindsell Train changes the way it values its asset management business
The independent directors of The Lindsell Train Investment Trust have decided to change the way that the trust values its stake in the management company. It will apply to monthly valuations starting on 31 March 2022. The board is aiming to capture the changing economics and prospects for the asset management business. It is designed […]
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18 Jun 2021 1 min read
QuotedData’s weekly news show 18 June 2021
QuotedData’s weekly news show 18 June 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Augmentum Fintech – Proposed £40m raise Lindsell Train – Why 2021 has disappointed to date Montanaro European Smaller […]
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2 min read
QD view – step off the train?
The world is a different place than it was 18 months ago. COVID-19 and the ramifications of the lockdowns used to contain it have changed the investment landscape considerably. In a relatively short period of time, we have gone from concerns that we were approaching the tail end of a long bull market, to a […]
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17 Jun 2021 5 min read
Lindsell Train’s Nick Train recaps on factors behind disappointing last few months
Lindsell Train (LTI) reported its annual results to 31 May 2021, with the following performance highlights: Share price total return – 38.9% NAV total return – 29.0% Benchmark return – The annual average running yield on the longest-dated UK government fixed-rate bond currently UK Treasury 1.625% 2071, calculated using weekly data, plus a premium of […]
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04 Jun 2021 1 min read
QuotedData’s weekly news show 4 June 2021
QuotedData’s weekly news show 4 June 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Scottish Investment Trust update Performance fees this week – Lindsell Train, Worldwide Healthcare, Aurora Brevan Howard funds merger […]
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2 min read
Lindsell Train changes benchmark and performance fee
Lindsell Train changes benchmark and performance fee – The board of Lindsell Train investment trust has approved the amendment of its Investment Management Agreement (IMA) which will see changes to its benchmark and the calculation of the performance fee. The company has adopted the MSCI World Index in sterling, as its new benchmark, with effect […]
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20 May 2021 2 min read
Lindsell Train Investment Trust optimistic on drinks sector recovery
Lindsell Train Investment Trust optimistic on drinks sector recovery – Nick Train, manager of the Lindsell Train Investment Trust, has shared a portfolio update highlighting the impact the coronavirus pandemic has had on the performance of his beverage holdings, but that a recovery may well be underway now as the global economy starts reopening. Of […]
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15 Jun 2020 2 min read
Lindsell Train outperforms, again
Lindsell Train outperforms, again – Over the year to the end of March 2020, Lindsell Train posted a 9.8% return on NAV, well ahead of the 4% return on its benchmark. However, tthe shares began the year at £1,475, a 65% premium to NAV, rose to a premium of 100% (reaching £2,000 per share), only to fall […]
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12 Jun 2019 5 min read
Lindsell Train reiterates premium health warning
Lindsell Train reiterates premium health warning – Lindsell Train has published results for the year ended 31 March 2019. The company uses “The annual average running yield on the longest-dated UK government fixed rate bond (currently UK Treasury 3.5% 2068) calculated using weekly data, plus a premium of 0.5%, subject to a minimum yield of 4.0%.” […]
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11 Dec 2017 1 min read
Investment Trust Insider on Blue Prism’s inexorable rise
Investment Trust Insider on Blue Prism’s inexorable rise Carthew: the beneficiaries of Blue Prism’s inexorable rise Occasionally, early stage technology companies can produce spectacular share price gains. When this happens, even relatively small investments can make a noticeable difference to a fund’s returns. Regular readers of my column may recall that I wrote about the […]
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27 Feb 2017 1 min read
Nick Train: Why I’m still holding Pearson
Nick Train, one of Britain’s best-known fund managers, has acquired something of a cult following among retail investors and financial advisers in the UK. In the three weeks after meeting Mr Train, I come across two PR executives, one asset management chief executive and several friends who confide they have invested a chunk of their […]
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07 Feb 2017 1 min read
All trust sectors bar one made money in ’16
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
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24 Nov 2016 1 min read
Lindsell Train’s NAV benefits from stake in expanding management company
Lindsell Train says it has continued to make good progress in the first six months of the current financial year. Its net asset value per share (adjusted to take into account the payment of the dividend in September) was up 24.5% compared to a rise in the benchmark of 2.0% and in the MSCI World […]
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15 Nov 2016 1 min read
UIL, Industrial Multi Property Third Quarter Winners – QuotedData
LONDON (Alliance News) – The best performer in both price and net asset value terms in the third quarter was UIL Ltd, boosted by its largest investment, Australian-listed Resolute Mining Ltd, which benefited from a strong gold price. Industrial Multi Property Trust PLC and Kubera-Cross Border Fund Ltd both saw recoveries in their share price […]
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10 Jun 2016 1 min read
Lindsell Train powers ahead driven by management company
Lindsell Train has announced results for the year ended 31 March 2016. In a year when the company’s net asset value total return per share increased by 11.9%, the share price (adjusted to include dividends) was up by 35.6%. This resulted in a significant increase in the share price premium to NAV, up from 5.9% […]
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31 Mar 2016 1 min read
Lindsell Train amends management fee
The Board of Lindsell Train Investment Trust has announced that it has agreed with Lindsell Train Limited an amendment to the calculation of the investment management fee described in the Investment Management Agreement dated 13 August 2014. Under the current Investment Management Agreement, Lindsell Train Limited as the manager is entitled to receive an investment management […]
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27 Nov 2015 1 min read
Lindsell Train warns on dangers of very high premium
Lindsell Train Investment Trust’s interim report, covering the six months to the end of September 2015, shows the fund moving to a significant premium. Today this is 34%. The Chairman’s statement reiterates previous warnings to new investors of the dangers of buying stock at very high premiums. The net asset value just about beat the benchmark – […]
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22 Jul 2015 1 min read
Discount trends, big names big prices
http://www.moneyobserver.com/news/21-07-2015/discount-trends-big-names-big-prices Investment trusts with big name managers saw their share prices soar over the second quarter as investors sought out the best active management.
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1 min read
The Investment Trust winners and losers in Q2
UK smaller companies funds feature quite prevalently in the lists on the back of a decisive election result in the UK and some funds close to the end of their lives made significant progress during the quarter for stock specific reasons. http://whichinvestmenttrust.com/the-investment-trust-winners-and-losers-in-q2/
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16 Jul 2015 1 min read
Small company investment trusts got election boost
Investment trusts specialising in smaller companies were among the top performers of the past few months after a decisive election result improved confidence in the sector, new research shows. But commodity and Asia-focused investment trusts were among the stragglers as investors shunned stocks exposed to an economic slowdown in China or a US rate rise, […]
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10 Jun 2015 1 min read
Strong performance from Lindsell Train on growing FUM
Lindsell Train has reported a 27.9% return on net assets and a 23.9% return to shareholders for the year to the end of March 2015. These numbers compare well to a 3.8% return on the fund’s benchmark and a 19.7% return on the MSCI World Index. They say that, once again, the main contribution to […]
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24 Nov 2014 1 min read
Lindsell Train insures their key men
LTI : Lindsell Train insures their key men Over the six months to the end of September 2014 the total return on Lindsell Train’s net asset value was 8.7% – a lot better than its benchmark (the index of the annual average yield on the UK 2.5% Consolidated Loan Stock) which returned 2.1% and better […]
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24 Jun 2014 1 min read
Lindsell Train Investment Trust : LTI – results
Lindsell Train Investment Trust has published results for the year that ended 31 March 2014. These show that the net asset value return for the year was 13.0% vs. 4.3% for the fund’s benchmark and 9% for the MSCI World Index (in Sterling terms). The share price did even better – generating a return of 16.0% […]
Upcoming Events
In The Press
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08 Mar 2024 1 min read
The truly cheap trusts trading on the widest discount relative to their history
By Matteo Anelli, Senior reporter, Trustnet, 07 March 2024: In the investment trusts universe wide discounts are often linked to higher long-term returns – and the data backs up this hypothesis. Since 2018, investing in trusts with a double-digit discount have returned an annualised 13.6% in the following five years, a recent study by the […]
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22 Jan 2024 1 min read
Investment trust insider on global trusts
Investment trust insider on global trusts – James Carthew: Global funds can learn from Alliance Trust’s success Our columnist says he is increasingly convinced Alliance Trust makes a ‘core’ holding for investors after its prgamatic multi-manager revamp seven years ago. Last week I discussed how 2023’s markets were dominated by a ‘magnificent seven’ of mega-cap […]
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11 Oct 2023 1 min read
15 years on from Lehman’s: the funds and investment trusts that top the charts
by Kyle Caldwell from interactive investor, 10th October 2023: The 15-year anniversary of the collapse of Lehman Brothers, which sent shockwaves through global stock markets, recently passed. Prior to the largest bankruptcy in US history came the credit crunch. This put paid to over-borrowed banks such as Northern Rock. Then came the full-blown banking crisis […]
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27 Sep 2023 1 min read
Small investments trusts: which to back, and which to avoid
by Cherry Reynard from interactive investor, 27th September 2023: Small is becoming less beautiful in the investment trust world. Problems of wider discounts, poor liquidity and even – in some cases – weaker performance, have started to worry investors. Another headwind is that wealth managers often won’t touch investment trusts with less than £250 million […]
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25 Sep 2023 1 min read
Bargain Hunter: these trusts are usually pricey, but are now cheap
by Faith Glasgow from interactive investor, 25th September 2023: The investment trust sector has not had it easy over the 20 months or so, as rocketing inflation and ongoing interest rate hikes have depressed growth prospects and stifled investor demand for risk assets across the board. The downbeat economic outlook has left most investment trusts […]
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19 May 2023 1 min read
Looking for dividend growth can be misleading, data reveals
By Tom Aylott, Reporter, Trustnet 19 May 2023: Those investing in trusts for a source of income may consider strong dividend growth as a sign that managers have consistently upped their payouts over a long time, but the data can be misleading. QuotedData found the 10 portfolios that increased their pay-outs the most over the […]
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20 Mar 2023 1 min read
Buy and hold versus changing style: which fund approach is best?
by Jennifer Hill from interactive investor, 20 March 2023: Some fund managers stick to their knitting irrespective of the wider macroeconomic backdrop; others have more flexibility to change their strategy to respond to market conditions. But which approach is best? Are investors better sticking with funds that adopt a long-term buy and hold strategy or […]
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27 Jan 2023 1 min read
Public/private valuation disconnect looks overdone
James Carthew for Investment Week, 24 January 2023: Within the investment companies sector, it has to be admitted that 2022 was a pretty poor year for funds investing in global equities. Only one, Brunner, managed to beat the MSCI AC World index, in NAV terms, although Lindsell Train, Alliance Trust and F&C all came close. […]
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14 Oct 2022 1 min read
Lindsell Train and Scottish Mortgage among the cheapest global trusts relative to their recent history
By Tom Aylott, Reporter, Trustnet, 13 October 2022: Global trusts were some of the biggest benefactors of the growth wave that dominated throughout the 2010s, loading up on US tech companies that soared. In the past five years alone, the IT Global Equity Income and IT Global sectors have delivered investors a total return of […]
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26 Sep 2022 2 min read
Generalist investment trusts: life in the old dog yet?
By Dave Baxter, Investors’ Chronicle, September 23 2022: It’s testament to the sheer uncertainty of recent times that not a single UK investment trust has launched in the first eight months of 2022. That compares with 16 over the course of 2021 and six in an unpredictable 2020. Some analysts reckon it might even mark […]
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08 Aug 2022 1 min read
Bargain Hunter: 13 eye-catching investment trust discounts
by Kyle Caldwell from interactive investor, 8th August 2022: Investment trust bargains are back, with the average discount moving from a lowly 2.2% at the start of this year to 7.4% today. Prior to the strong month for stock markets in July, that average discount figure was even wider, hitting a 12-month peak of above […]
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23 Dec 2021 2 min read
Bargain Hunter: 25 cheap equity trusts towards end of 2021
Kyle Caldwell, interactive investor, 15 December 2021 Some trusts have seen premiums cool, while others are trading on potentially unjustly wide discounts. The pick-up in market volatility of late, amid concerns over rising inflation levels and the emergence last month of the Omicron variant, has led to a welcome increase in potential investment trust discount […]
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1 min read
Lindsell Train bagged £14.5m of performance fees
By Jessica Tasman-Jones, 14 Dec 21 The Lindsell Train Investment Trust has bagged its managers £14.5m in performance fees over a decade by comparing the stellar performance of its equities portfolio to a benchmark linked to UK government bonds, analysis by Portfolio Adviser reveals. LTIT’s interim results this month revealed the investment trust could fail to earn any […]
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01 Dec 2021 2 min read
The global trusts on the biggest discounts or premiums relative to their history
Trustnet continues its study into which trusts have the most inflated valuations and biggest discounts relative to their five-year average, this time focusing on global investment trusts. By Eve Maddock-Jones, Reporter, Trustnet, 24 November 2021 Buying cheap trusts on a bigger discount than normal can be a lucrative way to make money over the long-term. Similarly […]
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07 Feb 2019 1 min read
Investment Trust Insider on the past decade
Investment Trust Insider on the past decade – James Carthew: the constant evolution of investment trusts A decade ago, when we were emerging from the global financial crisis, I was managing Advance UK Trust and Citywire was just 10 years old. All of this seems like a long time ago now. Recently, I found a Winterflood […]
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09 Jan 2019 1 min read
Investment Trust Insider on 2018
Investment Trust Insider on 2018 – Lindsell Train leads best and worst investment trusts of 2018 (NB the headlines are devised by Citywire!!) 2018 is attracting headlines as the worst year for markets since 2008. However, for the investment trust industry, there was much to celebrate. This was certainly the case for the new issue market […]
