"The most important event in the second half of 2011 had nothing to do with the euro. It was the launch of the Kindle Fire – Amazon’s iPad wannabe. It has been priced at half of the iPad, and sold five million units in the five weeks up to Christmas. These devices are embedding the internet increasingly into our everyday lives," the manager said. "This is a huge pace of change. Tablets are a good thing because they unleash a big economic boost and are stimulating wave after wave of new opportunities. There will be new app businesses, and businesses which encompass ideas we can’t even conceive of."
"I can’t conceive of a bull market which isn’t going to be driven by technology."
The manager said 186 million US web users watched 42 billion video clips in October 2011 alone.
Train heads up the £197.8m Finsbury Growth & Income Trust and £47.6m Lindsell Train IT, as well as the £402.4m CF Lindsell Train UK Equity OEIC. The latter has a £500,000 minimum investment.
In its interim results, the Lindsell Train Investment Trust said its net asset value (NAV) rose just over 5 per cent in the final quarter of 2011. The MSCI World Equity Index rallied 8.7 per cent, after a traumatic Q3. For the calendar year as a whole, the trust's NAV gained 9.4 per cent, while the MSCI was down 4.6 per cent.
Performance of trust vs sector over 1-yr
Source: FE Analytics
Our data shows the fund returning 5.8 per cent in the past year, while the average vehicle in the IT Global Growth sector lost 7.2 per cent.