Lindsell Train Investment Trust (LTI)'s underlying investments include a stake in Lindsell Train, the asset management company that runs it, which accounts for over 40 per cent of the trust's assets. And a recent upward re-evaluation of this asset manager has also driven up Lindsell Train Investment Trust's share price so that it trades on a premium to net asset value (NAV) of around 35 per cent. Asset manager Lindsell Train made a total return of 54 per cent over the year to the end of March 2018, according to the trust's latest annual report.
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