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Lindsell Train Reports Good Progress, Outperforms Benchmark

Mon, 15th Jun 2020 16:11

(Alliance News) - Lindsell Train Investment Trust PLC on Monday said it outperformed its benchmark in financial 2020 despite an extremely volatile market.

Shares in the trust were trading 0.4% higher at GBP1,194.70 each on Monday afternoon in London.

At March 31, Lindsell Train IT's NAV per share stood at GBP956.65, up 6.8% compared to GBP895.93 the year before. Shareholder funds rose 6.8% to GBP191.3 million from GBP179.2 million.

The trust declared a final dividend of GBP41.39 per share and a special dividend of GBP2.61 per share, giving a total dividend for the 12 months to March 31 of GBP44.00. The total payout represents a 50% increase from GBP29.50 distributed the year prior.

Lindsell Train IT's NAV total return for the period was 9.8%, outperforming its benchmark the Treasury 3.5% 2068 fixed rate bond which returned 4.0%, as well as the MSCI World Index which returned negative 5.8%

Funds under management at January 31 stood at GBP21.5 billion, up from GBP16.3 billion.

Looking ahead, Chair Julian Cazalet said: "It is likely that the coronavirus pandemic and its subsequent effect on economies worldwide will dictate the prospects for all the investments owned by the company over most of the next year. Without any historical template on which to base forecasts, trying to predict what will happen is futile."

"However, what we can say is that our listed investments are well-established businesses and over their history have the experience of operating in many different conditions, often in more challenging circumstances than today. The board remains confident that the companies in which we are invested are well-placed to survive, with the ability to prosper once the crisis is behind us."

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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