Lindsell Train, an investment management firm, published its fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of -2.5% was recorded by the fund for the calendar year of 2020, still better with its FTSE-All Share TR benchmark that returned -9.8%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Lindsell Train, in their Q4 2020 Investor Letter said that they continue to be optimistic in Manchester United plc (NYSE: MANU), since they believe that the digital platforms will increase the value of the sports broadcasts rights. Manchester United plc is a world-class football team and club company that currently has a $2.4 billion market cap. For the past 3 months, MANU delivered a 9.61% return and settled at $15.29 per share at the closing of January 25th.
Here is what Lindsell Train has to say about Manchester United plc in their Investor Letter:
"Another company that had a tough 2020, again unsurprisingly, was Manchester United, which has just reported a quarterly loss – in part because of loss of revenues from match days. I mentioned above that we include Man Utd amongst our hoped-for digital winners. The reason is we expect the digital technology platforms to push up the value of the sports broadcast rights as they increasingly compete against each other – Amazon, of course has led the way, already acquiring a parcel of Premiership rights. And there is no doubt about the continuing global fascination for football. Consider one growth statistic Man Utd was able to share at its results. Over the last 12 months hits to the club’s social media sites numbered 1.1bn, up 24% over last year. In a digital world such attention is increasingly valuable. Manchester United’s shares have rallied over 20% since the start of November – but still offer meaningful strategic value, in our opinion."
Bruno Fernandes of Manchester United, Image Credit: Emre Dogan
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Video: Top 5 Stocks Among Hedge Funds
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