Funds

Lindsell Train Investment Trust has lagged the benchmark

Has removed Visa from portfolio

Discount rate 0.3%

18% believe it will be the top performer

£100m investment programme

£2.1bn trust has less than 10% in the UK

Transitioning will be costly

Broad commodity ETPs see inflows of $12bn year-to-date

Will invest in secular trends over the long term

The industry has reacted positively to the acquisition, which has been in the making since November