Lindsell Train 'took advantage' of coronavirus sell-off panic

Added to Asia and luxury spending holdings in UK and global equity funds

Nick Train said he "took advantage" of the coronavirus "panic" to add to the companies in his UK equity and global equity funds exposed to Asia and luxury spending in January.

In the January factsheet for the £6.6bn LF Lindsell Train UK Equity fund, manager Train said it had been "a difficult month to get a handle on, as coronavirus began to predominate investor thinking". He said there were "predictable beatings" for Burberry, which fell more than 11%, Remy Cointreau, which was down over 13%, and Diageo which lost nearly 6%, but that "we took advantage of the panic to add to each". Lindsell Train UK Equity given green light on liquidity by Interactive Investor Train said: "We did so not because we have any insight into the severity and duration of the e...