As commentators including Moody's predict a surge in assets under management this year, Rebecca Jones asks whether fund houses are a sound investment.
Nick Train, director, Lindsell Train We have owned the asset managers we hold for a long time - over ten years for some. We have been buying them for long-term reasons, not because we expect the stock market to do very well or because Moody's says this is going to be a good year for them. Regarding Moody's observations, surely the stock market knows this already. All of the asset managers - certainly the ones we own - went up a lot last year: Schroders increased 60%, Hargreaves doubled in value and Rathbones was up 30%. I own these companies and regard them as integral parts of our ...
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