Associated equity: Finsbury Growth & Income Trust
Finsbury Growth & Income Trust’s investment objective is to achieve capital and income growth and provide shareholders with a total return above that of the broad UK market index. It invests principally in the securities of companies either listed in the UK or otherwise incorporated, domiciled or having significant business operations within the UK, while up to a maximum of 20% of the portfolio, at the time of acquisition, may be invested in companies not meeting these criteria.
Finsbury Growth & Income Trust — 3 videos in collection
Edison’s investment companies team recently published a review on Finsbury Growth & Income Trust (ticker: FGT). While results in recent years have reduced the trust’s long-term record of outperformance versus the UK market, managers Nick Train and Madeline Wright are confident about Finsbury’s prospects. The fund remains very concentrated with around 20 quality growth names. Since 2019, in broad terms, the weighting in ‘digital winners’ has increased from 40% to 65%, while the exposure to global consumer brands has declined from 50% to 30% and includes the sale of the overseas holdings. Notably for a trust with very low portfolio turnover, the managers have recently initiated positions in two new names: Clarkson, which is a shipbroker, and Intertek, which is a testing and assurance company. Both firms are global leaders with high returns but are relatively underfollowed.