FGT Nick Train & PZ Cussons

[monabri]

"Nick Train has bought shares in PZ Cussons (PZC) as the Citywire AA-rated fund manager builds a new stake in a UK-listed company for the first time in nine years.

His Lindsell Train fund group has amassed a stake worth £12.2 million, representing 1.6% of the FTSE 250 consumer goods company's shares, according to Refinitiv data.

A position in the shares worth £4 million at the end of September is also detailed in annual results for Train's Finsbury Growth & Income (FGT) investment trust, released yesterday. That stake accounts for 0.2% of the £1.9 billion portfolio."

0.2%....hardly a big position in the FGT portfolio. I wonder if he thinks PZC is an acquisition target ?

https://citywire.co.uk/investment-trust ... ider+Daily

[Lootman]

hardly a big position in the FGT portfolio. I wonder if he thinks PZC is an acquisition target ?

I can't see the article you cite but isn't the holding split across LT's entire group of funds, rather than just FGT?

Typically when a manager likes a share he buys it for all his funds, whether open-ended, IT, institutional funds or private accounts.

[richfool]

He (Nick Train) is still waiting for Pearson to come right.

[monabri]

hardly a big position in the FGT portfolio. I wonder if he thinks PZC is an acquisition target ?

I can't see the article you cite but isn't the holding split across LT's entire group of funds, rather than just FGT?

Typically when a manager likes a share he buys it for all his funds, whether open-ended, IT, institutional funds or private accounts.

Yes, I must admit I didn't read the article in full at the time...(food came along )

[Dod101]

Lootman is correct as the Sunday Times reminds us this morning. Train has actually bought £12.2 million of PZCussons, most of it going in to his Lindsell Train UK Equity Fund. This is the first UK share he has bought in nine years apparently! It had better be good.

To expand slightly on monabri's opening post, in the recent Annual Report for Finsbury Growth and Income, Nick Train makes it clear that he is still not sure about Pearson and of course FGT report on the new holding in PZCussons. I held Cussons some years back but sold on news of its problems in Nigeria, which have not gone away. Nick Train seems confident that new management will sort things out.

Finsbury G & I has had a very good year to 30 September, with a total return of 17.4% and a yield of 1.8%. It seems to me to be good way into buying Nick Train's expertise. They keep issuing new shares to keep the premium under control.

Dod