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Nick Train vows to back 'world-class' British businesses after apologising for a dismal performance By John-Paul Ford Rojas Updated: 22:01, 28 May 2024 e-mail View comments Star stock picker Nick Train apologised yesterday for the poor performance at his Finsbury fund – but said he was betting on a pick-up for the UK market. Train expressed frustration about the ‘malaise’ gripping undervalued London-listed shares. However, he said that over the past year the fund has been deliberately reducing the size of overseas holdings.

‘This is because the opportunity we see in the valuation of world-class, London-listed businesses is so great, after a long period of sub-market returns, that we feel we have to take advantage,’ he said. The comments reflect a growing sense in the City that while UK stocks have been suffering a dismal past year or two, sentiment has turned – with the FTSE 100 recently advancing to record highs and a series of possible stock market floats in the pipeline. Apology: Nick Train (pictured) expressed frustration about the 'malaise' gripping undervalued London-listed shares Finsbury Growth & Income Trust returned just 2.



7 per cent to shareholders for the six months to the end of March, according to results published yesterday. That compared with a 6.9 per cent rise in the wider FTSE All-Share Index over the same period.

Train admitted it was a ‘poor’ performance. ‘We really should be able to do better than this and if we can’t, then I absolute.

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