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Lindsell Train IT's bet on its own asset manager hurts performance in Q1
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In the three months to the end of March 2024, LTIT's net asset value remained broadly flat at 0.6%, compared with a 9.9% total return delivered by its MSCI World benchmark. In the trust's monthly report, co-manager Michael Lindsell noted LTIT's positive performance was offset by some consumer franchises, particularly Heineken, as well as the 6% fall in valuation of unquoted holding Lindsell Train Limited (LTL). The trust's stake in the asset manager remains a significant influence on performance, and while down from its peak of 50% of NAV in 2021, LTIT's weighting in the firm averaged...
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