Michael Lindsell has defended the Lindsell Train trust’s minimal exposure to pure technology names, as well as its raft of consumer holdings, which have had a slow start to 2023.
After a 2022 characterised by poor performance from growth-focused shares, technology names have rebounded strongly in January, with the Nasdaq index up 11%. PayPal, the only pure technology play in the £209m Lindsell Train trust portfolio, has seen its share price jump 14.4% so far this year, after losing over 62% of its market capitalisation last year, according to Morningstar data. Despite this, the trust's overall performance did not keep up, returning a net asset value total return of 1.4% in January, compared to the MSCI World index's return of 4.6%. Nick Train: Fever-Tree w...
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