Lindsell Train funds breach UCITS concentration rules - reports

Individual holdings breach limits

Lauren Mason
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Nick Train's fund has breached 10% limit on the weighting of individual holdings over the past year
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Nick Train's fund has breached 10% limit on the weighting of individual holdings over the past year

The £6.7bn Lindsell Train Global Equity and £478m Lindsell Train Japanese Equity funds breached the European UCITS rules on portfolio concentration 11 times last year, according to research from the Financial Times, with some individual holdings accounting for more than 10% of portfolios throughout 2019.

The 5/10/40 rule states holdings that have more than a 5% weighting must not collectively exceed 40% of the fund's overall assets. Individual holdings also cannot exceed a 10% allocation. Nick Train buys...

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