In a recent update on his £7bn UK Equity fund, Nick Train has sought to prepare investors for a potential future 'period of underperformance' as a result of the high concentration of holdings in the vehicle.
Despite the strong performance of the top five holdings in the portfolio in May, the manager has said he is aware of the potential risk posed by the fact that these holdings make up 45% the fund's total...
December 'remains achievable'
Able to monetise its assets
Formal agreement set to be announced soon
Cash holdings continue to grow