Lindsell Train trust NAV suffers 5.2% drop

Underperformance of Lindsell Train

Lindsell Train investment trust has posted a 5.2% fall in its net asset value for the year ended 31 March 2023, which it has attributed to underperformance by Lindsell Train, in which the trust has a 24.2% minority stake.

In its annual results today (13 June), the trust reported NAV per share for the year was £1,057, down from £1,114 in March 2022. As a result, the total annual dividend for the year will be £51.50 per share, compared with £53 last year. Hargreaves Lansdown slams Lindsell Train over 'insufficient' investment risk framework The trust's share price "closely tracked the NAV for most of the year", it said, closing at £1,052 - a 0.4% discount. However, LTIT noted that after two years of underperformance, it "was pleasing to see comparative returns improving". Over the long term, the tr...