The Lindsell Train global media fund is something slightly unusual. Although not a launch, the minimum investment has dropped from £100,000 to £20,000.
This global media fund is a long/short hedge fund, available via Matrix. Nick Train is a name familiar to many IFAs from days at GT and M&G.
It is not uncommon for a hedge fund to follow one theme or idea. Nick has had a fascination with media for over 20 years and has made more money from this than any other sector. The philosophy behind Lindsell Train as an investment boutique is only to launch funds where the managers believe money can be made.
He has developed an investment strategy within media that is only effective through a hedge fund. It is based on the premise that content is king. In the last 20 years, we have seen a wealth of new media/content delivery platforms.
All these platforms need content to attract viewers so the value of content has shot up dramatically. There are many new winners but also losers. Nick will try to go long on the winners and short on the losers. He will be buying the owners and developers of media content while going short on companies that are increasingly coming under pressure.
The fund will have about 30 holdings (20 long and 10 short), with very little turnover. Nick Train is a talented manager and this fund has a clear investment mandate. This could be one for clients with £20,000 who are prepared to look at slightly different investments.
Ben Yearsley is investment manager at Hargreaves Lansdown