Train reaffirms commitment to Burberry despite share price fall

Hurt by Pearson and Burberry

Nick Train's UK Equity fund was hurt by holdings in Pearson and Burberry last year, after the stocks fell 36% and 25% respectively, but the manager remains committed to these investments.

The £1.9bn Lindsell Train UK Equity fund, managed by Train (pictured), holds 5% in Burberry and a smaller stake in Pearson, which have been detractors from performance during 2015. The fund has returned 11.5% in the 12 months to 31 December, according to FE Trustnet, versus an IA UK All Companies sector average of 4.9%. However, Train said the annual return could have been higher if he had not held the two aforementioned stocks, alongside Fidessa and Daily Mail, which also fell by more than 10% each. "Some investors may wonder why our annual return was not rather better," he said. ...