Edison review on Finsbury Growth & Income Trust

RNS Number : 4388T

Finsbury Growth & Income Trust PLC

29 March 2016

 

London, UK, 29 March 2016

Edison issues research review on Finsbury Growth & Income Trust

Finsbury Growth & Income Trust (FGT) is a concentrated portfolio of 25-30 stocks chosen for their quality and potential for long-term growth in total return. Turnover is very low; the last complete disposal was in 2013 and the purchase of Remy Cointreau in 2015 was the first new position in the portfolio for more than four years. Performance has been very strong; FGT has outperformed the peer-group average over one, three, five and 10 years. Although not targeting a high income, FGT has a progressive dividend policy and the 2015 dividend was increased by 7.1%.

Demand for FGT remains robust; the shares are currently trading very close to cum-income net asset value. This compares to a range of a 1.2% discount to a 1.6% premium over the last 12 months. The average over the last one, three and five years is a premium of 0.5%. New shares are issued if there are unfulfilled buy orders in the market; during 2015, 23m shares were issued raising £134m. FGT has a progressive dividend policy and a current yield of 2.0%.

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