Finsbury Growth & Income Trust (LSE: FGT)

Last close As at 12/06/2024

GBP8.38

−1.00 (−0.12%)

Market capitalisation

GBP1,512m

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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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 (2.1) (1.8) (4.5)
Relative 1.0 (7.2) (11.1)
52 week high/low 914.0p/792.0p

Overview

Finsbury Growth & Income Trust (FGT) has been managed by Lindsell Train since the beginning of 2001. During his long tenure, approaching a quarter of a century, lead manager Nick Train has steadily acquired a significant 2.9% personal holding in the trust, which is a considerable amount of ‘skin in the game’. From the beginning of 2001 until the end of 2023, FGT’s 9.0% annual NAV total return was comfortably ahead of the UK market’s 5.1% annual total return. However, Train and deputy manager Madeline Wright, who was appointed in 2019, have underperformed for the last three years. The managers will continue with their successful long-term strategy of running a concentrated portfolio; Train’s philosophy is that wealth creation requires a concentrated approach, while diversification is necessary for wealth protection.

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