London, UK, 28 July 2023
Edison issues review on Finsbury Growth & Income Trust
(FGT)
Finsbury Growth & Income Trust (FGT) has been managed by Nick Train since the beginning of 2001. Data from the company show that since then to the end of March 2023, the fund has outperformed the broad UK market by 4.3pp per year. Having experienced a difficult relative performance period due to shifts in market leadership, FGT's results are getting back on track. The manager emphasises that he has continued to adhere to his long-term strategy of investing in high-quality growth companies that can thrive regardless of the economic cycle. Portfolio turnover is extremely low at around 3%, demonstrating that Train really does invest with a long-term perspective; the last new additions to the fund were Fevertree Drinks (Fever-Tree) and Experian in early 2020.
The manager stresses the importance of 'having skin in the game' by aligning his interests with those of other shareholders. He has continued to increase his holding in 2023; Train now owns c 5.1m shares, which is equivalent to c 2.4% of the fund.
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