Finsbury Growth & Income Trust PLC Edison review on Finsbury Growth & Income Trust
January 27 2021 - 3:00AM
RNS Non-Regulatory
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Finsbury Growth & Income Trust PLC
27 January 2021
London, UK, 27 January 2021
Edison issues review on Finsbury Growth & Income Trust
(FGT)
Finsbury Growth & Income Trust (FGT) is celebrating its 20th
anniversary under the management of Nick Train. While
underperforming in recent months, the trust is ahead of the broad
UK market over the last one, three, five and 10 years. Stock market
volatility in 2020 afforded the manager an opportunity to add
another new name to the fund, credit bureau Experian, which he
considers a rare example of a globally significant UK company that
is benefiting from the optimisation of its vast database. Train is
sticking to his tried-and-tested process that incorporates three
rules of thumb: 'if a company's products taste good, buy the
shares; the world will never be bored of being informed or
entertained; and the pros are always too cautious about the stock
market'.
FGT regularly trades close to NAV. The trust is currently
trading at a 1.9% share price discount to cum-income NAV, which
compares with a range of a 0.4% average premium to a 0.2% average
discount over the last one, three, five and 10 years. FGT has a
progressive dividend policy, although during FY20 the annual
distribution was held steady due to portfolio companies' dividend
cuts as a result of the global pandemic. The trust currently offers
a 1.9% yield.
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