Edison issues review on Finsbury Growth & Income

RNS Number : 6166E

Finsbury Growth & Income Trust PLC

09 May 2017

 

London, UK, 9 May 2017

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

Finsbury Growth & Income Trust (FGT) has been managed by Nick Train since 2000; he runs a concentrated portfolio of 25-30 primarily UK equities, aiming to generate growth in capital and income. Despite a period of underperformance in CY16, as result of the outperformance of cyclical companies where FGT has minimal exposure, its performance track record remains intact. It has outperformed its benchmark, the FTSE All-Share index, over one, three, five and 10 years. FGT has a progressive dividend policy and the 2016 annual dividend was increased by 8.3% versus the prior year. As a result of continued capital appreciation and investor demand, FGT's assets under management now exceed £1bn.

FGT enjoys strong investor demand for its shares; hence there is ongoing share issuance. So far in FY17, 10.3m shares have been issued, raising £67.1m. Its current 0.9% share price premium to cum-income NAV is higher than the 0.5% average premium of the last one, three and five years. Over the last 12 months FGT's shares have traded between a 1.6% premium and a 1.5% discount. The trust has a progressive dividend policy, with a 7.3% five-year compound average annual growth rate; its current dividend yield is 1.9%. 

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