{
  "id": 17908020,
  "title": "Nick Train flagship fund posts best month in its history as software bet starts to pay off",
  "url": "https://urgent.news/2026/11/03/nick-train-flagship-fund-posts-best-month-in-its-history-as-software",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-11-03T04:00:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/nick-train-flagship-fund-posts-best-month-in-its-history-as-software-bet-starts-to-pay-off/"
  },
  "original_language": "en",
  "account": "Nick Train’s flagship fund, the £1bn Lindsell Train UK Equity fund, has delivered its best single-month performance in its 20-year history, marking a potential turning point for the struggling vehicle. In October, the fund returned 10.8 per cent to investors, outperforming its peers and ranking the second-best in absolute terms since its 2006 inception. Former fund manager Train himself attributed the impressive return to his contrarian bets on unloved software stocks, including Relx, Experian and the London Stock Exchange Group. Despite initial losses in the software sector due to fears of artificial intelligence (AI), Train's fund has since rallied, with the aforementioned companies rebounding over 50 per cent after a historic sell-off dubbed the \"SaaSpocalypse.\" Train expressed optimism, stating that the recovery could signal a long period of better returns. The fund's performance has also been bolstered by a recovery in the Finsbury trust, which holds a nearly identical portfolio to Train's flagship equity fund. Relx, Experian and Sage, key holdings in both funds, surged over 20 per cent in October following positive trading updates. With Train's track record being one of the best in the UK, the resurgence in his flagship fund could indicate a potential shift in investor sentiment towards AI-exposed software stocks.",
  "summary": "Nick Train’s flagship fund has posted its best single-month performance in its 20-year history, in a sign the star stockpicker’s contrarian bets on unloved software stocks are fuelling a change in fortunes for the flagging vehicle. The £1bn Lindsell Train UK Equity fund returned 10.8 per cent to investors in October, in its best month [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}