The Lindsell Train investment trust performed poorly throughout May due to a lack of direct investment in artificial intelligence, according to manager Mike Lindsell.
The trust's NAV fell by 5.4% over the month, while its share price fell 1.4%, compared to an MSCI World index rise of 0.4% Writing in the trust's monthly factsheet, Lindsell said all positive movement within the market had been confined to firms able to benefit from artificial intelligence, which the trust owns none of, meaning it was "little affected by this euphoria". Lindsell Train trust NAV suffers 5.2% drop The manager noted the Philadelphia Semiconductor index was up 16% in May and 37% year-to-date, with the NASDAQ up 5.9% throughout the month, compared to the FTSE 100's ...
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