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Lindsell Train Global Equity Class D - Income (GBP)

Sell:300.69p Buy:300.69p Change: 2.03p (0.68%)
Prices as at 24 August 2026
Sell:300.69p
Buy:300.69p
Change: 2.03p (0.68%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
Prices as at 24 August 2026
Sell:300.69p
Buy:300.69p
Change: 2.03p (0.68%)
Prices as at 24 August 2026
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund does not feature on the Wealth Shortlist of funds our analysts believe have the potential to outperform their peers over the long term. This is not a recommendation to sell; however, if you are thinking of adding to your investments, we believe the Wealth Shortlist is a good place to start. View funds on the Wealth Shortlist »

The fund aims to grow your investment over the long term by investing in a small number of companies from around the world. Developed markets, such as the UK and US, are the primary focus. The established investment process focuses on 'quality growth', which could work well alongside other investments focused on unloved companies with the potential to recover.

The fund isn’t currently on the Wealth Shortlist. Performance has disappointed in recent years and we’re mindful of the impact the fund’s concentrated approach has had, and can have, on performance.

Our view on the sector

It's natural for UK investors to focus on funds investing in their home market. But as the world has become more connected, so has the investment landscape. There are lots of funds investing across the globe, and these can be a great way to diversify an investment portfolio. Funds in the global sector can invest anywhere in the world. But they go about this in different ways. They vary in how much they can invest in certain types of companies, sectors, countries, or regions. Some focus on developed markets or large multinational corporations, while others invest more in higher-risk emerging markets or smaller companies. Some target companies with higher-growth expectations and others search for unloved companies with the potential to recover.

Performance Analysis

Since launch in 2011, the fund has delivered returns ahead of the average fund in the IA Global peer group but behind the growth of the MSCI World benchmark. Weaker performance over the past couple of years has impacted the fund’s longer-term track record. Past performance isn’t a guide to the future.

The managers' focus on high-quality companies means the fund’s tended to provide some shelter from the worst stock market conditions. However, it’s tended to lag when markets rise sharply in a short period of time. This has been the case recently, as the fund has trailed the strong growth of the global stock market.

The last five years have been particularly challenging, partly because the fund’s quality-focused investment style has been out of favour, which has also impacted others that invest in a similar way.

Over the longer term, we expect the fund to do better when quality investing is in favour. If the recent trend reverses, it should outperform valued-focused funds, though this isn’t guaranteed. Investment styles go in and out of favour, which is why we suggest investors build diversified portfolios with exposure to a variety of asset classes, styles, sectors, and countries.

Investment Philosophy

The managers’ philosophy stems from their belief that there are only a handful of great companies in the world. These are the ones they want to invest in, particularly when their true value is not realised by other investors. They manage their clients' money as they would their own and take a long-term view when making any investment.

Process and Portfolio Construction

The managers invest in financially robust companies with characteristics that are hard to copy, such as strong brands, heritage, or sports franchises. Whilst not a requirement, many of their investments have high levels of founder family ownership, which can help align the interests of all investors.

The managers invest in 20 to 35 stocks. This means each investment can have a significant impact on performance, both positively and negatively, which can increase risk.

Most of these 'exceptional' companies tend to be larger and are based in developed markets. The managers also have the flexibility to invest in higher-risk smaller companies. The managers don't invest much in pure technology companies, preferring to invest in heritage companies that can exploit technology to improve their service.

Note that charges can be taken from capital, which can increase the yield but reduces the potential for capital growth. This is an offshore fund so investors aren't normally entitled to compensation through the Financial Services Compensation Scheme.

question mark Manager Track Record Based on HL Quantitative Research

  • Lindsell Train Global Equity...
  • IA Global
FROM: TO:


Source: Refinitiv Lipper

Fund Track Record

24/08/21 to 24/08/22 24/08/22 to 24/08/23 24/08/23 to 24/08/24 24/08/24 to 24/08/25 24/08/25 to 24/08/26
Annual return 0.52% -3.93% 11.87% 5.46% -5.54%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Lindsell Train specialises in the management of UK Equity, Japanese Equity and Global funds and investment trusts. The group was established in 2000 by Michael Lindsell and Nick Train, whose central philosophy is to manage their clients' money as they would their own, and to take the long-term view on investment performance as well as the development of their business.

Lindsell Train continues to be majority owned (73%) by the two founders, with a further 2% owned by staff. This is important because it allows them to maintain the integrity of the business principles on which the firm was founded.

Information about the fund

Fund manager biography

manager photo
Manager Name: Michael Lindsell
Manager start date: 16 March 2011
Manager located in: London

Michael co-founded Lindsell Train Limited in 2000 and is the firm's Chief Executive. He is the portfolio manager for Japanese equity portfolios and jointly manages Global equity portfolios. Michael has over 40 years' experience in investment management. Before founding Lindsell Train he spent seven years at GT Management, first as CIO in their Tokyo office, then in London with responsibility for all GT's global and international funds. Following the acquisition of GT by Invesco in 1998 he was appointed head of the combined global product team. His previous experience included working at Mercury Asset Management where he was director and head of Japanese fund management in London; at Scimitar Asset Management in Hong Kong where he ran Pacific and Japanese mandates; and at Lazard Brothers as an investment manager. Michael has a degree in Zoology from the University of Bristol.

manager photo
Manager Name: Nick Train
Manager start date: 16 March 2011
Manager located in: London

Nick co-founded Lindsell Train Limited in 2000 and is the firm's Chairman. He is the portfolio manager for UK equity portfolios and jointly manages Global equity portfolios. Nick has over 40 years' experience in investment management. Before founding Lindsell Train he was head of Global Equities at M&G Investment Management, having joined there in 1998 as a director. Previously he spent 17 years at GT Management where his final role was as Chief Investment Officer for Pan-Europe, having built long investment track records in both UK and Global equities. Nick has a degree in Modern History from the University of Oxford.

manager photo
Manager Name: James Bullock
Manager start date: 30 April 2015
Manager located in: London

James joined Lindsell Train in 2010 and was promoted to Co-Portfolio Manager, Global Equities, in 2015. James also co-manages Lindsell Train's North American and International Equity strategies. James holds a Master's degree in Physics from the University of Oxford and a doctorate in Biomechanics from the University of Cambridge.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Invest now