Train won't be derailed by interest rate changes, LSE bid

The fund invests in a concentrated number of stocks, about 25-30, listed in the UK, but which consist generally of larger-sized companies with track records and which are seen to be undervalued in total returns terms over longer periods. “I don’t care about short-term rates,” Train says. The fund takes a strategic view of its holdings rather than aiming for a series of tactical changes, Train adds, besides which the MPC’s decision to get stuck into the rising rate of UK inflation is likely to produce benefits in the long term for a fund such as his. For example, the move is seen as...