Nick Train, manager of the £1.3bn Finsbury Growth and Income trust, has said he hopes to gradually build the holding in his most recent stock purchase, Manchester United, before it trebles in value - which he is confident it will do.
The world-famous football club listed as a company in 2012 and Train made an initial investment last summer - his first new portfolio holding since 2015. "I was relieved to have had the idea to invest in Manchester United, but also that we were able to execute it. It is not a liquid asset, but we were lucky enough to have about 1.5% of all our UK clients' portfolios exposed to it last summer," said Train, speaking at the Frostrow Capital May Investment Seminar. NYSE-listed Manchester United shares are up 24% over one year to 19 May, according to Morningstar, to trade at $20.70. In ...
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