. . . BUT LINDSELL TRAIN IN PINK WITH £8m PAYDAY

A BOSS at investment house Lindsell Train pocketed £8.2m last year as profits surged.

The unnamed director – thought to be one of the firm’s founders, Nick Train ( pictured) or Michael Lindsell – was one of the best-paid fund managers in the industry after a bumper performance by the company.

Lindsell Train manages more than £18bn of assets and is feted by savers following years of outsize returns. The amount raked in by the firm in management fees rose from £60.9m to £84.5m in the year to January 31, and profits climbed 46pc to £55.6m. The firm’s fortunes stand in sharp contrast to fellow stock-picker Neil Woodford, who has been forced to shut his flagship fund to withdrawals. Lindsell Train said: ‘The directors are encouraged by the company’s longterm performance track record of funds managed which should enhance the company’s ability to retain and grow the number of investment mandates and size of its assets under management.’

Funds under management increased by 24pc to £16.3bn during the period, and have since climbed again to £18.4bn at the end of March.

The fund was set up in 2000 by Train, 60, and Lindsell, 59, who worked together in the 1990s at M&G Investments.

Train has been compared to feted US investor Warren Buffett because of his preference for buying shares in recognisable brands and holding them for long periods of time.

He is also known for taking stakes in funds run by other investment managers.

The Oxford University graduate is regarded as one of Britain’s best investors and once claimed he had not sold or bought any shares for four years.

He owns 72.7pc of Lindsell Train with Lindsell, with 3pc held by staff.