Proof of the importance of a Hargreaves Lansdown “best buy” recommendation, perhaps, or an absurd overreaction to having one removed? Shares in Lindsell Train Investment Trust slid by 22 per cent on Friday after the FTSE 100 investments group said that it would be dropping Lindsell Train’s UK Equity and Global Equity funds from its Wealth 50 list of top picks.
The decision was nothing to do with the trust’s returns, which have been stellar, but was the result of its high ownership of Hargreaves Lansdown shares and the potential for a conflict of interest: its 12 per cent stake makes it the second largest holder behind one of the group’s co-founders.
The incident may be the latest example of what looks like an overly