Citywire AA-rated Nick Train is looking to spend a likely influx of cash by topping up on a number of stocks in his Lindsell Train UK Equity fund that he believes present 'compelling value' after falls in the stock market sell-off.
Train noted that before March's rally, Burberry (BRBY) was down nearly 25% from its 2017 peak. Payroll system provider Sage (SAGE) has fallen 22%, analytics provider RELX (REL) dropped 18%, investment businesses Schroders (SDR) and Hargreaves Lansdown (HRGV) are both down 15%, and drinks maker Diageo (DGE), snack company Mondelez, and consumer goods giant Unilever (ULVR) are all down by more than 10% from recent highs.
‘Some of the falls in our major holdings are already not trivial,’ he said. ‘10% declines are usually acknowledged as "corrections", with anything at 20% or more down seen as a proper bear market. Those declines are getting interesting to us,' he said.
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