For the year ended 31 December 2018, F&C Investment Trust reported NAV total return of -3.3% with debt at market value. Share price total return was -0.6%, above the benchmark of -3.4%.
The company’s dividend per share grew 5.8% to 11.0p and income rose to £87.9m. NAV per share with debt at market value fell from 675.8p to 642.9p. The company’s 10-year share price total return stood at 247.5%, equivalent to 13.3% per annum.
Ongoing charges declined from 0.79% to 0.65%, helped by a switch out of Global Multi-Manager funds portfolio and a new tiered fee arrangement with its manager. While the future political and economic uncertainty presents considerable risks, it also provides significant opportunities for new economic activity and new companies. The company is well positioned to take advantage of these opportunities through its diversified approach of investment.