Nick Train tight-lipped on Hargreaves Lansdown takeover

Shareholders to vote on consortium's £5.4bn bid for Hargreaves Lansdown

Valeria Martinez
clock • 1 min read

Finsbury Growth & Income (FGT) manager Nick Train was quiet on the Hargreaves Lansdown PE takeover deal in the latest Finsbury Growth & Income Fact Sheet.

In the latest update and in a departure from recent months, no mention was made of FGT's seventh largest holding, Hargreaves Lansdown, which last Friday (9 August) accepted a £5.4bn takeover bid from a consortium of private equity firms. In May's FGT factsheet, the manager said the market "should not have been surprised" at the bid put forward in May, as its valuation was "exceptionally low". At the time, the consortium had offered £4.7bn for the UK's largest investment platform, which it rejected. "In our opinion, HL is by no means the only holding in your portfolio whose market valu...

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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Analysts split over Reeves' role in UK gilt chaos as US bonds follow suit

Analysts split over Reeves' role in UK gilt chaos as US bonds follow suit

Investors looks for a culprit

Sorin Dojan
clock 10 January 2025 • 2 min read
Chris Justham: WPS - wrestlemania portfolio solutions

Chris Justham: WPS - wrestlemania portfolio solutions

'There has been a not-so-quiet change to how communication is happening'

Chris Justham
clock 09 January 2025 • 4 min read
Gilt yields hit record highs as bond sell-off intensifies

Gilt yields hit record highs as bond sell-off intensifies

Yields on 30-year government gilts reach highest level since 1998

Jonathan Stapleton
clock 09 January 2025 • 1 min read