The Lindsell Train investment trust has changed its performance benchmark to reflect its ongoing preference for equities, which it expects to be maintained “for the foreseeable future”, as the company announced a tweak to its investment policy and performance fee.
Lindsell Train IT, which is managed by James Bullock, Michael Lindsell and Nick Train, informed investors in its annual financial report this morning (17 June) that it would shift its benchmark from a "market-based proxy for inflation" to the MSCI World index (sterling) total return. Nick Train: 'Tactical opportunity' in unloved UK stocks The board explained that the rise in the value of management company Lindsell Train (LTL), which now represents 50% of the trust's NAV, as well as the "the lack of asset allocation alternatives…offering comparable value to equities", means "the p...
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