Nick Train: 'Tactical opportunity' in unloved UK stocks

London-listed firms being discounted

There is currently a "tactical opportunity" in UK stocks with asset allocators placing "a discount on a London listing" over the past five years, according to Nick Train.

Despite a recent bounce on positive Covid-19 vaccine news, the UK's FTSE All-Share index continues to lag its global peers, with the all companies index down 12.4% year-to-date compared to the MSCI World's 9.8% gain, according to FE fundinfo data. Over the past five years, a period that includes the Brexit referendum in 2016, the FTSE All-Share has returned just 24%, compared to its MSCI World counterpart's 90.3% gain. Nick Train: Lacklustre Manchester United still has 'trophy value' But Train, speaking on a Finsbury Growth & Income webinar, said that other than for the past five y...