Train reaps rewards as asset manager holdings post double-digit rally in April

Rathbones, Schroders and HL rallied last month

Nick Train has praised asset managers for their strong contribution to the returns of his £6.8bn Lindsell Train UK Equity fund in April, calling it a "spectacular month".

In the latest fund commentary, the manager revealed that the top three contributors to the fund's return last month included Hargreaves Lansdown and Schroders, both of which suffered share price falls last year.  The third key contributor was largest holding publishing company RELX, which makes up 10% of the fund. Schroders and HL together comprise 16.2% of the fund between them. "Our three asset manager investments all posted double-digit gains in April," said Train.  "Rathbones was up 15%, Schroders 17%, and the best performer in the portfolio last month, Hargreaves Lansdown, gai...