Nick Train has a growing level of M&A activity in recent years has forced him to add non-benchmark holdings to his UK equity portfolios.
In an update for investors in his Finsbury Growth and Income trust, Train (pictured) struck a bullish note on the outlook for mergers and acquisitions - but suggested existing activity in the space had already forced him to look away from UK equities. The manager highlighted positions in both Heineken and Cadbury as examples of businesses which he is no longer able to find in the domestic equity market. "There are outstanding global businesses, representing great industries, in the UK. But, maybe thanks to takeovers, those are dwindling. There are some ideas I cannot invest in purely ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes