Diageo Stock – Burberry stocks are all the fashion with £6.6bn fund manager | Money
Nick Train’s confidence that wealthy shoppers want to “buy more beautiful things” because of the pandemic has led him to take a big bet on the luxury goods company Burberry.
His £6.63 billion Lindsell Train UK Equity fund has increased its Burberry stock over the past year and it is now its third-biggest holding.
The British fashion house makes up 8.99 per cent of the fund behind Diageo at 9.95 per cent and the media company Relx at 9.64 per cent.
A year ago only 6.79 per cent was in Burberry and it was the eighth-biggest holding behind companies including Unilever and Hargreaves Lansdown.
“Burberry has been an increasingly big holding in your fund,” Train told investors in a portfolio update last week. “The company