Lindsell Train WS Lindsell Train UK Equity Income Inc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
Performance
Discrete performance - to last month end
| 30/04/19 to 30/04/20 |
30/04/20 to 30/04/21 |
30/04/21 to 30/04/22 |
30/04/22 to 30/04/23 |
30/04/23 to 30/04/24 |
|
|---|---|---|---|---|---|
| Fund | -7.1% | 16.3% | -0.3% | 9.5% | -5.4% |
| Sector | -14.6% | 30.3% | -0.1% | 1.8% | 6.9% |
| Rank | 28/213 | 210/218 | 128/222 | 9/228 | 228/230 |
| Quartile | 1 | 4 | 3 | 1 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 1.1% | 2.2% | 7.8% | |
| Sector | 2.8% | 3.9% | 5.0% | |
| Rank | 146/222 | 172/213 | 7/185 | |
| Quartile | 3 | 4 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| SAGE GROUP | 9.93 |
| RELX | 9.87 |
| EXPERIAN | 9.82 |
| DIAGEO | 9.79 |
| LONDON STOCK EXCHANGE GROUP | 9.59 |
| UNILEVER | 8.75 |
| MONDELEZ INTERNATIONAL | 7.56 |
| BURBERRY GROUP | 5.78 |
| HEINEKEN NV | 5.60 |
| SCHRODERS | 4.94 |
| Total | 81.63 |
Fund Aims
To deliver capital and income growth and provide a total return in excess of that of the FTSE All-Share TR Index by investing at least 70% of its assets in the shares of companies incorporated or domiciled in the UK. Up to 10% of assets may be invested in worldwide companies which are listed on an exchange in the UK. The Company may invest up to 20% of its assets in non-UK equities from countries worldwide.
Fund Manager
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.
Fund Overview
| Mid (01/05/2024) | 335.40p |
| Historic yield | 2.16% |
| Fund size (29/02/2024) | £3847.39m |
| Number of holdings | 22 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.65% |
| Launch date | 10/07/2006 |
Asset Allocation
| UK Equities | 80.31% | |
| International Equities | 17.60% | |
| Other Assets | 2.08% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Asset Allocation
| UK Equities | 80.31% | |
| International Equities | 17.60% | |
| Other Assets | 2.08% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Consumer Staples | 38.19% | - | - | - | |
| Food, Beverage & Tobacco | - | 29.44% | - | - | |
| Beverages | - | - | 21.89% | - | |
| Distillers & Vintners | - | - | - | 12.65% | |
| Brewers | - | - | - | 5.60% | |
| Soft Drinks | - | - | - | 3.64% | |
| Food Producers | - | - | 7.56% | - | |
| Food Products | - | - | - | 7.56% | |
| Personal Care, Drug & Grocery Stores | - | 8.75% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 8.75% | - | |
| Personal Products | - | - | - | 8.75% | |
| Financials | 19.25% | - | - | - | |
| Financial Services | - | 19.25% | - | - | |
| Investment Banking & Brokerage Services | - | - | 9.66% | - | |
| Asset Managers & Custodians | - | - | - | 9.66% | |
| Finance & Credit Services | - | - | 9.59% | - | |
| Financial Data & Systems | - | - | - | 9.59% | |
| Consumer Discretionary | 17.86% | - | - | - | |
| Media | - | 9.87% | - | - | |
| Media | - | - | 9.87% | - | |
| Publishing | - | - | - | 9.87% | |
| Consumer Products & Services | - | 5.78% | - | - | |
| Personal Goods | - | - | 5.78% | - | |
| Clothing & Accessories | - | - | - | 5.78% | |
| Travel & Leisure | - | 2.22% | - | - | |
| Travel & Leisure | - | - | 2.22% | - | |
| Recreational Services | - | - | - | 1.87% | |
| Restaurants & Bars | - | - | - | 0.34% | |
| Retail | - | 0.00% | - | - | |
| Retailers | - | - | 0.00% | - | |
| Specialty Retailers | - | - | - | 0.00% | |
| Technology | 9.93% | - | - | - | |
| Technology | - | 9.93% | - | - | |
| Software & Computer Services | - | - | 9.93% | - | |
| Software | - | - | - | 9.93% | |
| Industrials | 9.82% | - | - | - | |
| Industrial Goods & Services | - | 9.82% | - | - | |
| Industrial Support Services | - | - | 9.82% | - | |
| Professional Business Support Services | - | - | - | 9.82% | |
| Real Estate | 2.86% | - | - | - | |
| Real Estate | - | 2.86% | - | - | |
| Real Estate Investment & Services | - | - | 2.86% | - | |
| Real Estate Services | - | - | - | 2.86% | |
| Non-Classified | 2.08% | - | - | - | |
Regional Allocation
| UK | 80.31% | |
| North America | 9.15% | |
| Developed Europe - Excl UK | 8.45% | |
| Non-Classified | 2.08% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 98.74% | |
| Cash | 1.24% | |
| Pound Sterling | 0.02% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 80.31% | - | |
United Kingdom
|
- | 80.31% | |
| North America | 9.15% | - | |
United States
|
- | 9.15% | |
| Developed Europe - Excl UK | 8.45% | - | |
Netherlands
|
- | 5.60% | |
France
|
- | 2.85% | |
| Non-Classified | 2.08% | - | |
Breakdown By Market Cap (%)
| Mega |
|
60.98% |
| Large |
|
15.64% |
| Medium |
|
13.84% |
| Small |
|
2.24% |
| Micro |
|
0.26% |
| Non-Classified |
|
7.04% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | SAGE GROUP | 9.93% | Software & Computer Services | United Kingdom |
| 2 | RELX | 9.87% | Media | United Kingdom |
| 3 | EXPERIAN | 9.82% | Industrial Support Services | United Kingdom |
| 4 | DIAGEO | 9.79% | Beverages | United Kingdom |
| 5 | LONDON STOCK EXCHANGE GROUP | 9.59% | Finance & Credit Services | United Kingdom |
| 6 | UNILEVER | 8.75% | Personal Care, Drug & Grocery Stores | United Kingdom |
| 7 | MONDELEZ INTERNATIONAL | 7.56% | Food Producers | United States |
| 8 | BURBERRY GROUP | 5.78% | Personal Goods | United Kingdom |
| 9 | HEINEKEN NV | 5.60% | Beverages | Netherlands |
| 10 | SCHRODERS | 4.94% | Investment Banking & Brokerage Services | United Kingdom |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | 9.93% | - | - | - | - | - | - | - | 9.93% |
| Financials | 19.25% | - | - | - | - | - | - | - | 19.25% |
| Real Estate | 2.86% | - | - | - | - | - | - | - | 2.86% |
| Consumer Discretionary | 16.27% | 1.60% | - | - | - | - | - | - | 17.86% |
| Consumer Staples | 22.18% | 16.01% | - | - | - | - | - | - | 38.19% |
| Industrials | 9.82% | - | - | - | - | - | - | - | 9.82% |
| Non-Classified | - | - | - | - | - | - | 2.08% | - | 2.08% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B18B9V5 |
| Mex Code | CGLTTU |
| Isin Code | GB00B18B9V52 |
| Citi Code | L531 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.65% |
Aims and Benchmark
| Aims | To deliver capital and income growth and provide a total return in excess of that of the FTSE All-Share TR Index by investing at least 70% of its assets in the shares of companies incorporated or domiciled in the UK. Up to 10% of assets may be invested in worldwide companies which are listed on an exchange in the UK. The Company may invest up to 20% of its assets in non-UK equities from countries worldwide. |
| Benchmark | FTSE All Share TR Index |
| Benchmark Category | Comparator |
| IA Sector | UK All Companies |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 10:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 December | 31 January |
| 01 June | 30 September |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| 5.30% | - |
Fund Administration
| Fund Trustee/Depository | BNY Mellon Trust & Depositary (UK) Ltd |
| Fund Administrator | Link Fund Administrators Limited |
| Fund Registrar | Link Fund Administrators Limited |
| Fund Custodian | The Bank of New York Mellon (International) Limited |
Group Details
| Group name | Lindsell Train Limited |
| Group address | 2 Queen Anne's Gate Buildings Dartmouth Street London SW1H 9BP |
| Group telephone | 020 7227 8200 |
| Dealing telephone | - |
| info@lindselltrain.com | |
| Homepage | www.lindselltrain.com |
| Fax number | 020 7227 8299 |
Dealing
| Minimum Investment | £500000 |
| Minimum Top Up | £1000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -1.09 |
| Beta | 0.76 |
| Sharpe | 0.00 |
| Standard Deviation | 11.57 |
| Info Ratio | -0.25 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | No |
| Concentrated Portfolio | Yes |
| Smaller Companies | Yes |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
Smaller Companies
The fund invests in smaller companies. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Higher Risk
This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.