Lindsell Train Investment Share Discussion Threads

[flyer61] 09/1/2025 09:04

giltedge1...likewise. Buying at todays price still gives you a decent margin of safety given the ever burgeoning cash balance at LTIT.

Minimum dividend £44 pencilled in for this year but I am starting to think they may 'engineer' a same again £51.50.

[giltedge1] 09/1/2025 08:59

LSEG, RELX, SAGE surging to new highs, US investors like these expensive data analytical shares, think I will hold, graph looks good, rising trend.

[giltedge1] 08/1/2025 22:09

Business as usual New Year FUM 13.2B to 12.5B 30/11 to 31/12 tempted to sell after recent rally. But strangely done better than my other holdings USD strength will help major holdings so maybe FUM back to 13B end of month.

[spectoacc] 16/12/2024 17:14

Well done holders - can't see much reason for it (other than, finally, a month of positive UK inflows, albeit most of it likely to trackers), but it's been a great rise.

[dickiehh] 14/12/2024 11:24

What do people see as the relative merits of investing in LTI vs FGT at today's prices? Obviously LTI has the bigger discount, and international holdings like Nintendo and the Japanese and US funds. It has also previously traded on a premium (but hard to see that returning quickly). On the hand, FGT looks more stable over time and has the continuation vote

[flyer61] 13/12/2024 18:02

Given it is my biggest holding...great finish to the week. Cheapest I managed to buy at recently was £710. Even at todays price I am still a buyer.

[giltedge1] 13/12/2024 16:27

Sales at 780 Nice finish to week, DGE up another 2%, Global fund & FGT at or near NAV highs, hope positive momentum continues. Glad topped up at 712 few weeks ago, my holding now blue not red, first time in years.

[dickiehh] 13/12/2024 09:42

Good to see lots of buys this morning at around 78. FGT too been doing well recently, and the underlying holdings. Both LTI and FGT still at big discounts though, hopefully more narrowing to come

[chinahere] 12/12/2024 14:11

They were AT Automatic Trades for only a few. Was it some 'Bot Mania' ?

[flyer61] 12/12/2024 13:25

Why would someone pay £786???

[giltedge1] 12/12/2024 10:50

Good rise by DGE today, all helps, expect AUM November to be positive increase for once.

[jaws6] 09/12/2024 09:55

The Lindsell Train Investment Trust plc - Director BUY

[flyer61] 09/12/2024 09:54

One other thing on the horizon. FGT wind up vote in 2026.....that would be potentially £1.5B out the door....feel it is in the present LTI share price.

[flyer61] 03/12/2024 18:09

Well we will have to comfort ourselves with the £105M quid of cash that LTIT has on the books....I actually believe (probably naively) that Nick Train bats with a straight bat when it comes to LTIT and LTI.

Your point Spec about AUM in a nose dive within the UK market is noted.

[spectoacc] 03/12/2024 17:46

I can't see a scenario where the AUM stabilises - at least, absent a big rally.

Money continues to leave the UK market, and L-T now have a highly blemished record. 1 year, 3 years, 5 years. Did great in the bond proxy era, but that's not coming back.

Wonder if an eventual bursting of the US bubble would help - tho probably wouldn't help the "tech winners" they claim to have.

Would they even get a vote to pass at 90% - if not, you're likely right - less money for those two, and presumably less buying by Mr L as a result.

Quite enjoyed this from Mr T in the main Citywire article:
"...Even he felt impatient about the disappointing returns from several long-term holdings..".

You don't say.

[flyer61] 03/12/2024 17:28

My guess Spec is Mr Lindsell and Train would reduce their salaries to fettle their proteges. They would need to be very careful if they tried to up the salaries as AUM was going out the window....would certainly have a very bad smell about it.....I doubt Nick Train wants to go the same way as Woodford albeit for different reasons.

Noteworthy was post 30 Sept in 5 weeks AUM was down another £600M. Until the AUM stabilises the big discount is here to stay.....

[spectoacc] 03/12/2024 17:16

Citywire raise an interesting point, referencing this article from nearly a year ago:



Basically, a couple more billion off the AUM (if that) & the salary/bonus cap of 26% of annual turnover at L-T Ltd may have to be raised, requiring a 90% approval vote.

I'd like to know why anyone there is getting a bonus, but still. Another nail into LTI if it were to happen.

[giltedge1] 01/12/2024 17:21

Good to see Nintendo up 5% on Friday, also LSEG had a good month up 6% odd. Sage up 30% good for FGT & UK Fund, all we need is an increase in November AUM to help sentiment.

[spectoacc] 29/11/2024 14:17

Got to compare LTI ex-L-T Ltd to FGT discount, which is 9%.

If the UK ever starts regaining AUM in size, and if some of that went to underperforming L-T...

[giltedge1] 29/11/2024 13:23

Should receive final div from LT soon, will add to NAV, £3m odd, I sold at £820, so great to buy back at £712, all blue chips, hopefully fund mgt can recover....

[flyer61] 29/11/2024 12:24

It is hard to believe but we are getting near where the whole FM business is worth zero to us but it has £100M cash on the balance sheet.

Welcome to loopy Britain!

[giltedge1] 29/11/2024 11:58

LSEG, RELX, EXP at or near all time highs, ULVR, US Fund doing well & Nintendo on a upturn. Soon at a point if LT stake was valued at NIL, you would still get your investment stake back on liquidation. Must be great value here at £712.

[wskill] 25/11/2024 08:47

Pity that the shares were not at a sensible level for the UK market £700 is not a normal level so not marketable to UK investors .

While the management are at this they could start quarterly dividends which would also help look at JPM and its trusts.

[cc2014] 25/11/2024 08:28

Bot now finished.

One would assume that it's not a problem with LTI but someone was in a hurry this morning to switch into something else

It's pretty obvious that it's much easier to just stick your money on Bitcoin and ride the trend rather than try and catch this falling knife. ;-)

[spectoacc] 25/11/2024 08:21

Persistent 25 bot at 700 offer this morning.