Nick Train has been aggressively topping up his holding in Hargreaves Lansdown shares, arguing fears over margin pressures at the platform are unfounded.
The platform was Train's top holding within his £1.1bn Lindsell Train UK Equity fund at the start of the year. But Hargreaves shares have had a torrid time, falling 27% year to date to trade at 993p by Friday's close. Investors have sold off the stock on concerns that since HL's clean pricing structure, introduced in Q1, could lead to contracting margins at a business which was valued at over 30x earnings. However, Train has taken advantage of the shares' drop below the £10 mark in August and September to boost his exposure once again. "We have been buying Hargreaves Lansdown again...
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