Edison issues update on Finsbury Growth & Income Trust (FGT)

Train puts his money where his mouth is

Edison Investment Research Limited Edison issues update on Finsbury Growth & Income Trust (FGT): Train puts his money where his mouth is 14-May-2024 / 13:47 GMT/BST The issuer is solely responsible for the content of this announcement.

London, UK, 14 Mai 2024

 

Edison issues update on Finsbury Growth & Income Trust (FGT): Train puts his money where his mouth is

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.

FGT retains its position as the top performing fund over the last decade in the 19-strong AIC UK Equity Income sector. An improvement in the trust’s shorter-term performance record could be rewarded with a higher valuation, as the trust’s current discount is wider than its historical averages.  

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Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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End of Announcement - EQS News Service

1902845  14-May-2024 

Finsbury Growth & Income Trust PLC at the time of publication of the news with a fall of -0,12 % to 8,55GBP on London stock exchange (14. Mai 2024, 14:31 Uhr).