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WS Lindsell Train UK Equity Class D - Income (GBP)

Sell:170.03p Buy:170.03p Change: 0.68p (0.40%)
Prices as at 22 July 2024
Change: 0.68p (0.40%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 22 July 2024
Change: 0.68p (0.40%)
Prices as at 22 July 2024
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
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 »

Please note the fund currently holds shares in Hargreaves Lansdown PLC.

Nick Train is a fund manager we rate extremely highly. We think he's got a knack for investing in companies with outstanding prospects and we see this fund as a good way to access his best ideas from across the UK stock market. He's got a unique investment approach which has led to a long history of strong performance but this should not be seen as a guide to future returns.

Although we rate the manager highly, the fund isn't on the Wealth Shortlist. It was previously on the Wealth 50 (available prior to the Wealth Shortlist), but we made the decision to remove it as the Lindsell Train business owns (including via this fund) a significant number of shares in Hargreaves Lansdown plc. This was done to avoid any potential conflict of interest.

Our view on the sector

The UK stock market is home to lots of world-class companies. From international giants to a diverse array of smaller businesses. This provides a rich hunting ground for fund managers in this sector. They all try to grow investors' money over the long term, but each goes about it in a different way. Some focus on larger companies in the FTSE 100 index, others invest in medium-sized or smaller companies, and some have the flexibility to invest in any company, regardless of size. Some aim to match or deliver a return similar to the broader UK stock market. Others have the freedom to try and make as much money as possible for investors and take more risks. That could mean investing in only a small number of companies, for instance. A fund that invests in UK shares is normally the first port of call for UK-based investors. But with such a variety on offer, investors should make sure a fund is right for their circumstances before investing.

Performance Analysis

Nick Train has managed a few funds over the years and they've performed better than their benchmarks more often than not. We put this down to his ability to invest in companies that have gone on to perform well, regardless of their size or the sector they're in. Since the launch of the Lindsell Train UK Equity Fund in July 2006, performance has been outstanding. It's been helped by a focus on the consumer goods sector, one of the strongest performing areas over this period.

Nick Train's relatively conservative investment approach has tended to come into its own in falling markets, although it's also tended to lag a rapidly rising one.

Investment Philosophy

Nick Train invests clients' money as if it was his own and takes a long-term view on investment performance. He thinks there are a small number of exceptional companies with strong brands, loyal customers and the ability to grow profits year after year.

Process and Portfolio Construction

Nick Train tends to find lots of high quality companies in the consumer staples, consumer discretionary and financial sectors and the fund is focused on these areas. He also tries to invest in companies that can benefit from long-term themes like rising demand for goods and services in developing markets and the growing importance of digital technology in our day to day lives.

The manager tends to hold between 20 and 30 companies so each one can form quite a big part of the portfolio and have a significant effect on returns. This, combined with the manager's freedom to invest in smaller companies, adds risk.

Please note the fund takes charges from capital, which could boost the income, but reduces the potential for capital growth.

question mark Manager Track Record Based on HL Quantitative Research

  • GT Income
  • IA UK All Companies
  • M&G UK Select A Acc Old
  • Finsbury Growth & Income (with...
  • WS Lindsell Train UK Equity Acc
  • IA UK All Companies

Source: Refinitiv Lipper

Fund Track Record

22/07/19 to 22/07/20 22/07/20 to 22/07/21 22/07/21 to 22/07/22 22/07/22 to 22/07/23 22/07/23 to 22/07/24
Annual return -9.43% 14.56% -8.01% 14.15% -3.28%

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: Nick Train
Manager start date: 10 July 2006
Manager located in: London

Nick Train is Investment Adviser to Finsbury Growth & Income Trust PLC, and Investment Adviser to the CF Lindsell Train UK Equity Fund and Lindsell Train Global Equity Fund. Nick Train was with GT for 17 years where he successfully managed the GT Income Fund for some 13 years. Subsequently he spent two years with M&G (and was appointed Head of Global Equities), leaving to form Lindsell Train with Michael Lindsell in December 2000.

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