Roaring 20s Depends on the Super Rich, Says Nick Train

Economic boom depends on wealth creation among the world's new rich, who are expected to buy more luxury goods and services

James Gard 26 May, 2021 | 1:01PM
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Burberry shop

Fund manager Nick Train is backing luxury and consumer goods companies to thrive this year and beyond as part of a potential “Roaring 20s” for the global economy. But he expects the main driver of this hyper-consumption is likely to be money made from tech IPOs and dynamic digital companies rather than just the effects of  re-opening following the pandemic.

“If there’s going to be a roaring 20s it’s going to be based around extraording wealth creation,” he said. That turbocharged growth is likely to benefit the likes of luxury fashion firm Burberry (BRBY) and drinks maker Diageo (DGE), both key holdings in the Finbsury Growth & Income Trust (FGT), which has a Morningstar Analyst Rating of Silver.

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James Gard  is content editor for Morningstar.co.uk

 

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