Finsbury Growth & Income Trust in 60 seconds

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.

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28.02.24