Mar 03 2025 40 mins 72
Nick Train is the first to admit that his investors haven’t seen the returns they’re used to recently. But despite some calls that haven’t quite worked out, in this interview, he points out the areas that should make up for this in the future.
Listen to Dave Baxter and the fund manager discuss holdings in the fund such as Diageo (DGE) – which he’s bullish over despite falling alcohol consumption and the threat of weight loss drugs – and companies tapping into digital trends, such as Relx (RELX).
The pair also cover moving away from dividends, the state of UK asset managers, activism in the investment trust space and more.
This episode was recorded on 24 February.
Timestamps
00:51 What could end the underperformance
3:50 Stronger and weaker points of the portfolio and Relx
6:08 How much of the portfolio targets digital trends
8:05 Performance issues
12:39 Diageo
20:32 Unilever
23:46 Consumer exposure
26:20 UK market woes
29:42 Rightmove
31:56 Schroders and UK asset managers
33:33 Investment trusts
36:02 Clarkson and Intertek
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