Michael Lindsell defends Lindsell Train's minimal pure tech exposure

Maintains trust in consumer names

Michael Lindsell has defended the Lindsell Train trust’s minimal exposure to pure technology names, as well as its raft of consumer holdings, which have had a slow start to 2023.

After a 2022 characterised by poor performance from growth-focused shares, technology names have rebounded strongly in January, with the Nasdaq index up 11%. PayPal, the only pure technology play in the £209m Lindsell Train trust portfolio, has seen its share price jump 14.4% so far this year, after losing over 62% of its market capitalisation last year, according to Morningstar data.  Despite this, the trust's overall performance did not keep up, returning a net asset value total return of 1.4% in January, compared to the MSCI World index's return of 4.6%. Nick Train: Fever-Tree w...