THE LINDSELL TRAIN INVESTMENT TRUST PLC
THE LINDSELL TRAIN INVESTMENT TRUST PLC is a public limited company registered in England and Wales under company number 04119429. It was incorporated on 29 November 2000 and is recorded as active on the Companies House register, with its registered office at 25 Southampton Buildings, London WC2A 1AL. Companies House classifies its principal activities under SIC codes 64301 (activities of investment trusts) and 64999 (financial intermediation not elsewhere classified).
The Trust is a UK closed-ended investment company admitted to trading on the London Stock Exchange’s Main Market under the ticker LTI (ISIN GB0031977944), with 20,000,000 ordinary shares of 0.75p in issue. It was established to give investors exposure to a globally invested equity portfolio and, through a significant minority shareholding, to the potential growth of Lindsell Train Limited, the fund management firm co-founded by Michael Lindsell and Nick Train. The Trust’s stated investment objective is to maximise long-term total returns, with a minimum objective of maintaining the real purchasing power of sterling capital, by investing globally across financial assets with a stated bias toward equities and sterling-denominated assets.
For the year ended 31 March 2026, the Trust reported a net asset value of 716.1 pence per ordinary share and declared dividends of 28 pence per ordinary share, alongside a reported loss per ordinary share of 194.0 pence, reflecting mark-to-market movements in its listed equity and unlisted holdings over the period. Frostrow Capital LLP, an independent AIFM and investment-company administrator, acts as the Trust’s company secretary and administrator, having succeeded Maitland Administration Services Limited in November 2020.
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Shareholders
2
Two shareholders are currently on record for THE LINDSELL TRAIN INVESTMENT TRUST PLC, held on the Confirmation Statement (CS01), filed under the Companies Act 2006.
The largest of these is SSgA SPDR ETFS Europe I-SPDR FTSE UK All Shares UCITS ETF, holding 50% — the largest recorded stake — followed by SSgA SPDR ETFS Europe I-SPDR FTSE UK All Share ETF at 50%.
Because every shareholder shown is a company rather than an individual, the ownership chain continues above this level, and no beneficial owner can be established from this filing alone.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| SSgA SPDR ETFS Europe I-SPDR FTSE UK All Shares UCITS ETF | 50% | Companies House | |
| SSgA SPDR ETFS Europe I-SPDR FTSE UK All Share ETF | 50% | Companies House |
Officers
20
Directors and officers of THE LINDSELL TRAIN INVESTMENT TRUST PLC
Companies House records six active directors and one corporate company secretary for THE LINDSELL TRAIN INVESTMENT TRUST PLC as at 18 September 2026, alongside six recently resigned officers. The current directors are Michael James Lindsell (appointed 13 July 2006, founder of the Trust’s investment manager, Lindsell Train Limited), Nicholas Timothy Allan (appointed 18 September 2018), Roger Mark Uvedale Lambert (appointed 23 September 2022), Helena Victoria Brodie Vinnicombe (appointed 23 September 2022), Alexander David Maclellan (appointed 30 August 2023) and Sian Elizabeth Hansen (appointed 4 June 2025). All current directors use the registered office, 25 Southampton Buildings, London WC2A 1AL, as their correspondence address; this is a service address, not evidence of residence. Frostrow Capital LLP (company number OC323835), an English limited liability partnership and independent investment-company administrator, is recorded as company secretary, a corporate officer, appointed 2 November 2020 in succession to Maitland Administration Services Limited. Companies House does not publish directors’ nationality or country of residence for this company.
Recent officer changes
- Sian Elizabeth Hansen appointed Director, 4 June 2025 (Companies House filing).
- Vivien Mary Lickorish resigned as Director, 11 September 2025 (Companies House filing).
- Charles Julian Cazalet resigned as Director, 31 December 2023 (Companies House filing).
Data availability
Full: Companies House publishes current and historical officer appointment and resignation dates for this company, but nationality and country of residence are not disclosed for any officer.
Sources
- Companies House, officers filing, https://find-and-update.company-information.service.gov.uk/company/04119429/officers, retrieved 18 September 2026.
Registry feed — rows exactly as filed with Companies House, including entries the profile above does not cover.
Group Structure
Group structure of THE LINDSELL TRAIN INVESTMENT TRUST PLC
THE LINDSELL TRAIN INVESTMENT TRUST PLC is an independent, standalone UK-listed investment company. Companies House filings show no corporate parent or subsidiary of the Trust itself. Its principal verified corporate relationship is with Lindsell Train Limited (company number 03941727), a private limited company registered in England and Wales at 66 Buckingham Gate, London SW1E 6AU, which acts as the Trust’s appointed investment manager. Rather than owning or being owned by Lindsell Train Limited outright, the Trust holds a minority, non-controlling equity stake in Lindsell Train Limited as one of its own portfolio investments, reported at approximately 24% of Lindsell Train Limited’s share capital in the Trust’s published annual report commentary. This is an investment holding, not a parent-subsidiary control relationship: Lindsell Train Limited is not a subsidiary of the Trust, and the Trust is not a subsidiary of Lindsell Train Limited. Frostrow Capital LLP (company number OC323835) separately provides company secretarial and administration services to the Trust under a service agreement; this is an administrative appointment, not a corporate-ownership relationship. Information is current as at 18 September 2026.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Lindsell Train Limited | GB | 03941727 | Portfolio investment holding; appointed investment manager (not parent/subsidiary) | Approximately 24% of share capital (as reported in Trust annual report commentary) | Active | 2026-09-18 |
Data availability
Partial: the investment relationship with Lindsell Train Limited is corroborated by multiple published sources summarising the Trust’s own annual report, but no Companies House ownership filing (such as a persons-with-significant-control notice on Lindsell Train Limited) independently discloses the Trust’s stake, since it falls under the applicable PSC notification approach for that entity. No other parent, subsidiary or sister-company relationship was identified for the Trust.
Sources
- Companies House, THE LINDSELL TRAIN INVESTMENT TRUST PLC, https://find-and-update.company-information.service.gov.uk/company/04119429, retrieved 18 September 2026.
- Companies House, LINDSELL TRAIN LIMITED, https://find-and-update.company-information.service.gov.uk/company/03941727, retrieved 18 September 2026.
- The Lindsell Train Investment Trust plc, official site, https://www.ltit.co.uk/, retrieved 18 September 2026.
- Lindsell Train Limited, fund page, https://www.lindselltrain.com/funds-trusts/lindsell-train-investment-trust-plc/, retrieved 18 September 2026.
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Frequently Asked Questions
What does THE LINDSELL TRAIN INVESTMENT TRUST PLC do?
UK closed-ended investment trust, incorporated 29 November 2000 (company number 04119429), investing globally in equities and holding a minority stake in its own investment manager, Lindsell Train Limited.
Who owns THE LINDSELL TRAIN INVESTMENT TRUST PLC?
Two shareholders are currently on record for THE LINDSELL TRAIN INVESTMENT TRUST PLC, held on the Confirmation Statement (CS01), filed under the Companies Act 2006. The largest of these is SSgA SPDR ETFS Europe I-SPDR FTSE UK All Shares UCITS ETF, holding 50% — the largest recorded stake — followed by SSgA SPDR ETFS Europe I-SPDR FTSE UK All Share ETF at 50%. Because every shareholder shown is a company rather than an individual, the ownership chain continues above this level, and no beneficial owner can be established from this filing alone.
Who is THE LINDSELL TRAIN INVESTMENT TRUST PLC's UBO (Ultimate Beneficial Owner)?
Every shareholder recorded for THE LINDSELL TRAIN INVESTMENT TRUST PLC is itself a company rather than a natural person, so no Ultimate Beneficial Owner (UBO) is identified at this level; establishing one would require tracing the ownership of each shareholding company in turn.
How many shareholders does THE LINDSELL TRAIN INVESTMENT TRUST PLC have on record?
2 shareholders are shown on record for THE LINDSELL TRAIN INVESTMENT TRUST PLC.
What is THE LINDSELL TRAIN INVESTMENT TRUST PLC's company registration number?
THE LINDSELL TRAIN INVESTMENT TRUST PLC's registration number is 04119429, filed with Companies House in United Kingdom. Its current status on the register is active.
Is THE LINDSELL TRAIN INVESTMENT TRUST PLC still an active company?
THE LINDSELL TRAIN INVESTMENT TRUST PLC's status on Companies House is listed as active.
When was THE LINDSELL TRAIN INVESTMENT TRUST PLC incorporated?
THE LINDSELL TRAIN INVESTMENT TRUST PLC was incorporated on 29 November 2000, according to Companies House.
What is THE LINDSELL TRAIN INVESTMENT TRUST PLC's registered address?
The registered address on file for THE LINDSELL TRAIN INVESTMENT TRUST PLC is London, United Kingdom.
What legal structure is THE LINDSELL TRAIN INVESTMENT TRUST PLC registered as?
THE LINDSELL TRAIN INVESTMENT TRUST PLC is registered as a Public Limited Company in United Kingdom.
What is THE LINDSELL TRAIN INVESTMENT TRUST PLC's revenue?
Not an operating/trading company; reported net asset value of 716.1 pence per ordinary share and dividends of 28 pence per share for the year ended 31 March 2026.
Is THE LINDSELL TRAIN INVESTMENT TRUST PLC listed on a stock exchange?
Listed on the London Stock Exchange Main Market under ticker LTI (ISIN GB0031977944); 20,000,000 ordinary shares of 0.75p in issue.
Who are the officers/directors of THE LINDSELL TRAIN INVESTMENT TRUST PLC?
Six active directors as at September 2026, including Michael Lindsell (appointed 2006); Frostrow Capital LLP (company number OC323835) serves as company secretary.
Does THE LINDSELL TRAIN INVESTMENT TRUST PLC have a parent company or subsidiaries?
Independent standalone trust with no corporate parent or subsidiary; holds an approximate 24% minority equity stake in its investment manager, Lindsell Train Limited (company number 03941727), which is not a subsidiary relationship.
Can Zavia monitor changes to THE LINDSELL TRAIN INVESTMENT TRUST PLC's ownership over time?
This profile reflects a point-in-time snapshot from Companies House. Zavia's monitoring API can track changes to THE LINDSELL TRAIN INVESTMENT TRUST PLC's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access THE LINDSELL TRAIN INVESTMENT TRUST PLC's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including United Kingdom, so records like THE LINDSELL TRAIN INVESTMENT TRUST PLC's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Companies House and was last synced on 18 September 2026.