Lindsell Train hails LSE prospects as global equity fund lagged benchmark 1.2% in March

LSE “unique role to play” in ESG compliance

Paypal, Intuit and Hargreaves Lansdown (HL) drove down performance on Lindsell Train’s global equity fund in the first quarter of the financial year, as it ended March lagging its benchmark 1.2%, according to the firm’s latest fund report.

PayPal's share price fell 26% at the start of the year, which Lindsell Train attributed to management being penalised for "signalling a focus on the retention of higher value users at the expense of higher growth." It remains the fund's number one detractor for the second consecutive month. Nick Train also has a 3.7% allocation to PayPal in his investment trust (LTIT). According to the report, American financial software company Intuit had a "slower than expected start to its tax season", as HL's investment resulted in a two-year suspended special dividend which weighed on investor op...