Investment Trust Sees £35m Withdrawals Amid Poor Performance
What happened
Investors in the Lindsell Train Investment Trust requested £35m in withdrawals, reflecting poor performance over the last five years, which showed an annual return of minus 7.1pc. The trust's board offered to buy back shares at a 5pc discount, but most shareholders chose not to tender their shares. The trust holds shares in Nintendo and London Stock Exchange Group.
From aol.com
Why it matters
The trust's chairman, Roger Lambert, stated that the outcome demonstrates continued confidence in the long-term investment proposition of the companies. The trust's holdings in Nintendo and London Stock Exchange Group are central to this financial movement.
From aol.com
Who's involved
- Roger LambertChairman of the investment trust facing investor withdrawals
- NintendoJapanese multinational video game company whose shares are held by the trust
- London Stock Exchange GroupBritish multinational stock exchange whose shares are held by the trust
Keep exploring
The entities involved
-
Nintendo
Japanese multinational video game and consumer electronics company
-
London Stock Exchange Group
British multinational stock exchange and financial information company located in City of London, United Kingdom
Nothing else this week.