Train: Why my first new stock for UK Equity since 2011 is an overseas name

Manager has taken advantage of summer correction

Nick Train has taken advantage of the sell-off in global markets over the summer to add the first new stock to his £1.6bn UK Equity fund in over four years - an overseas holding.

The manager (pictured) has opened a new 1.5% position in premium beverage company Remy Cointreau following the August correction, breaking a four-year spell of making no new additions to the portfolio. In June, Investment Week reported Train had added PepsiCo to his £900m Global Equity portfolio, the first new stock for this fund in three years. The manager said he has struggled to find new opportunities but this summer's volatility presented opportunities. Train said: "Never one to waste a good crisis, I have taken advantage of the summer/autumn correction to start a new holding. ...