Nick Train labels UK investor pessimism 'excessive'

In the £1.9bn trust's latest monthly factsheet, the manager noted that price moves across the UK in August suggested investors were "increasingly pessimistic", adding he understood why after such a long period of disappointing returns for the UK stock market. However, he said felt this was excessive having spoken to and closely followed the companies within his portfolio. In the update, which highlighted a 2.5% fall in the trust's NAV and a 1.4% dip in its share price over August, the manager shared developments from three portfolio holdings that he felt were "encouraging". London ...