- Lindsell Train was established in 2000 by Michael Lindsell and Nick Train. Reflecting their experience, the business focuses predominantly on the management of UK, Global and Japanese equity mandates.
- Companies with activities directly curtailed by COVID controls have been thwacked, whilst those possessing the technology to facilitate new modes of locked-down living have thrived.
- Tritely, tech companies now dominate the US market, with the S&P500's top-seven spots all taken by familiar tech giants, each of which rose by at least a third in 2020.
- So, as investors how should we prepare for the next unexpected event? Sadly we can’t know for sure, but chasing last year's champions without long-term foresight already feels parachronistic.
- The top three absolute contributors to the Fund’s performance in December were Walt Disney, Prada and London Stock Exchange and the top three absolute detractors were Unilever, Shiseido and eBay.
For further details see:
Lindsell Train Global Equity Fund Portfolio Manager Commentary - December 2020