Lindsell Train Global Equity fund managers on why they did not sell a single stock in 2017

Fund ended the year up 26%

Lindsell Train's James Bullock, who manages the £3.7bn Global Equity fund alongside Nick Train and Michael Lindsell, has said the team did not sell out of any of its holdings throughout 2017 as it has been "easy" to "love" them.

In the monthly report for December, the manager highlighted a good year for the fund, which was up 26% and outperformed its benchmark the MSCI World Index (developed markets) by 14%, with the latter returning 11.8% over the same period according to the group. Bullock attributed this to strong performance from its companies, 17 of which (out of 27) contributed total local currency returns of over 25%.   He said: "We are sometimes accused of 'loving' our stocks; possibly with good reason given we did not exit a single name over the year. To be honest though 2017 has made loving the fund...