Zen strategy pays dividends

Sometimes it pays to have few investment ideas, says Nick Train, who reveals a few of his favourite stocks.

This week, a professional investor tells us where he'd put his money.This week:Nick Train of Lindsell Train.

Maybe the most unusual thing about Lindsell Train's investment approach is how little we actually do. We almost never initiate new holdings, we almost never sell existing holdings and we do almost no trimming of holdings. In the UK context, we have added only two new positions since 2011 and exited one since 2013. Our long-run portfolio turnover is around 3% per annum.

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Nick Train

Nick Train co-founded Lindsell Train Limited in 2000. He is the portfolio manager for UK equity portfolios and jointly manages Global portfolios.

Nick has over 40 years’ experience in Investment Management. Before founding Lindsell Train, he was Head of Global Equities at M&G Investment Management, having joined there in 1998 as a Director. Previously he spent 17 years (1981 – 1998) at GT Management which he left soon after its acquisition by Invesco. At his resignation, he was a Director of GT Management (London), Investment Director of GT Unit Managers and Chief Investment Officer for Pan-Europe.

Nick has a BA Honours Degree in Modern History from Queen’s College, Oxford.