Interim Management Statement

FINSBURY GROWTH & INCOME TRUST PLC Interim Management Statement - three months to 30 June 2012 (unaudited) Finsbury Growth & Income Trust PLC invests principally in the securities of UK listed companies with the objective of achieving capital and income growth and providing a total return in excess of that of the FTSE All-Share Index. A maximum of 20% of the Company's portfolio, at the time of acquisition, can be invested in quoted companies worldwide. In the 3 month period ended 30 June 2012 the Company's net asset value total return was -0.35% and the share price total return was +0.50%. These results compare to the total return from the FTSE All-Share Index, the Company's benchmark, of -2.63% over the same period. Post period end, to 17 July 2012 the Company's net asset value total return was +1.52% and the share price total return was +1.00%. The total return from the benchmark index was +1.01%. The Company paid a first interim dividend of 4.6p per share (first interim dividend 2011: 4.4p per share) on 4 May 2012 in respect the year ending 30 September 2012. During the 3 month period the Company issued 2,841,216 new shares at a premium to the Company's cum income net asset value per share prevailing at the time of their issue raising £10.7m. Following the period end, to 17 July 2012, the Company has issued a further 485,000 new shares at a premium to the Company's cum income net asset value per share prevailing at the time of their issue raising a further £1.7m. As at 17 July 2012 the Company had 66,643,381 shares in issue. Trust Characteristics 30 June 2012 31 March 2012 Number of holdings 26 26 Net assets (£m) 229.3 217.4 Net yield 2.7% 2.7% Gearing (AIC basis) 107 106 Share price (p) 349.50 347.75 NAV (p) per share 346.67 345.03 Premium of share price to NAV per 0.8% 0.8% share Source: Frostrow Capital LLP Sector Analysis % of % of investment portfolio investment portfolio at 30 June 2012 at 31 March 2012 Financials 16.8 17.2 Consumer Services 28.9 28.6 Consumer Goods 44.3 43.6 Technology 9.5 9.8 Preference Shares 0.5 0.8 Total 100.0 100.0 Source: Frostrow Capital LLP Portfolio Name % of % of investment portfolio investment portfolio at 30 June 2012 at 31 March 2012 Diageo 11.6 11.3 Unilever 9.1 9.0 Pearson 8.3 7.3 Heineken Holdings (A Shares)* 7.4 6.7 A.G Barr 7.1 7.3 Fidessa 4.9 4.9 Rathbone Brothers 4.5 5.0 Sage Group 4.5 4.9 Schroders 4.3 4.5 Kraft Foods^ 3.7 3.7 Top 10 Investments 65.4 64.6 London Stock Exchange 3.5 3.5 Reed Elsevier 3.3 3.7 Daily Mail & General Trust (A 3.3 3.1 Shares) 3.3 3.2 Greene King 3.2 3.0 Hargreaves Lansdown 2.8 3.0 Euromoney Institutional Investor 2.8 3.3 Burberry Group 2.6 2.6 Marston's 2.5 2.4 Dr Pepper Snapple^ 2.0 1.8 Young & Co's Brewery 94.7 94.2 (non-voting) 2.0 2.2 Top 20 Investments 1.4 1.5 Fuller Smith & Turner 1.0 0.9 Thomson Reuters~ 0.5 0.8 Lindsell Train Investment Trust 0.2 0.2 Lloyds Banking Group 9.25% 0.2 0.2 (non cum preference)** - - Celtic 100.0 100.0 Frostrow Capitall LLP+ Celtic 6% (cum preference)** Total Investments Source: Frostrow Capital LLP * Listed in the Netherlands ^ Listed in the United States ~ Listed in Canada ** Non-Equity - Preference Shares + Unquoted Partnership Interest Total Return Performance % (to 30 June 2012) 3 Months Calendar 1 Year 3 Years Year to date Share Price +0.50 +10.3 +5.0 +101.9 NAV per share -0.35 +9.2 +4.9 +95.2 Benchmark* -2.63 +3.3 -3.1 +47.4 Source: Morningstar * Benchmark - FTSE All-Share Index measured on a total return basis. Past performance is not a guide to future performance. This Interim Management Statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules. This Interim Management Statement is available on the Company's website www.finsburygt.com. The Company's Net Asset Value per share is announced daily and is available, together with the share price, on the TrustNet website at www.trustnet.com SEDOL Code: Ordinary Shares - 0781606 ISIN - Ordinary Shares GB0007816068 Bloomberg - FGT LN Epic - FGT For further information contact: Victoria Streater on 0203 170 8732 Frostrow Capital LLP Company Secretary 19 July 2012
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