Nick Train's flagship WS Lindsell Train UK Equity fund is set to gain more than £230m from the private equity-backed takeover of Hargreaves Lansdown, should it decide to sell its shares.
According to data from Morningstar Direct, the top 20 UK-domiciled funds holding the most HL shares are set to receive £719,099,905 from the takeover deal collectively, with almost a third of the total concentrated in Train's £3.2bn UK Equity fund. Based on the takeover price of 1110p plus a 30p dividend per share, Train's fund is set to receive £231,192,000 from its 20,280,000 shares. Lindsell Train declined to comment on the figure. However, in Finsbury Growth & Income's August factsheet, the manager said "we are in a price-finding phase for HL to establish its worth". Nick Tra...
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