Looking forward to improved relative performance
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Edison Investment Research Limited
London, UK, 15 Februar 2024
Edison issues review on Finsbury Growth & Income Trust (FGT): Looking forward to improved relative performance 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. While Train and Wright are very disappointed with FGT’s underperformance in recent years, readers should remember that the trust has outperformed its benchmark over the long term by a considerable margin. The trust is a member of the AIC UK Equity Income sector; its NAV total returns rank first out of 20 funds over the last 10 years. Train also has plenty of ‘skin in the game’ as he currently owns 2.8% of the company and regularly adds to his investment. Click here to view the full report. All reports published by Edison are available to download free of charge from its website About Edison: As a content-led investor-relations business, Edison helps companies stand out and meet the right shareholders. Edison’s integrated investor relations solution combines expert analyst content, digital targeting and active investor engagement. This drives liquidity and valuations by building bigger, better informed and more engaged investor audiences globally. Edison has a proven history of increasing liquidity and valuations for its clients. Edison’s content can be viewed by all investors, anywhere in the world. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Mel Jenner +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube http://www.youtube.com/edisonitv
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1838283 15-Feb-2024
