Finsbury Growth & Income Trust — Exciting times – more UK and zero overseas

Finsbury Growth & Income Trust’s (FGT’s) portfolio has changed considerably since 2019. There is a greater exposure to digital winners, which now make up close to two-thirds of the fund, a lower weighting in consumer companies and the non-UK positions have been sold. Managers Nick Train and Madeline Wright are excited about FGT’s prospects. They believe the UK market is home to a range of leading global companies that are more attractively valued than their international peers. The managers are encouraged by an improvement in FGT’s recent performance, following a disappointing few years. However, importantly, one should not lose sight of the trust’s commendable long-term record of 3.7pp annualised outperformance versus the broad UK market since 2001.