Finsbury Growth & Income Trust (LSE: FGT)

Last close As at 18/03/2024

GBP8.48

−5.00 (−0.59%)

Market capitalisation

GBP1,618m

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.

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Finsbury Growth & Income Trust — Performance getting back on track

Equity Analyst

Melanie Jenner

Mel Jenner

Director, Investment Trusts

Key Management

  • Nick Train

    Fund manager

  • Simon Hayes

    Chairman

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 1.2 0.6 0.6
Relative (2.1) (2.5) (2.4)
52 week high/low 920.0p/792.0p

Overview

Finsbury Growth & Income Trust (FGT) has been managed by Nick Train since the beginning of 2001 and in 2019 Madeline Wright was appointed as the trust’s deputy portfolio manager. Despite an impressive long-term record – during Train’s tenure to the end of 2023, FGT’s NAV generated a 9.0% annual total return versus the UK market’s 5.1% annual total return – there have now been three consecutive years of underperformance. The managers will continue to employ the long-term successful strategy of running a concentrated fund, investing in quality growth businesses, with high returns and low capital intensity, which can thrive throughout the economic cycle. Train and Wright believe that the market will reward FGT’s shareholders over time. Portfolio names change infrequently in keeping with the fund’s very low turnover, but in September 2023, property platform Rightmove entered the portfolio; this was the first new holding since 2020.

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