Edison review on Finsbury Growth & Income Trst

RNS Number : 5462N

Finsbury Growth & Income Trust PLC

26 October 2016

 

London, UK, 26 October 2016

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

Finsbury Growth & Income Trust (FGT) aims to generate long-term growth in capital and income from a concentrated portfolio of primarily UK equities, which are held for the long term. FGT is benchmarked against the FTSE All-Share index, but is not constrained by its composition; c 70% of the portfolio is invested in consumer stocks. The trust has a progressive dividend policy and annual dividends have compounded by 6.9% pa since FY11; the current dividend yield is 2.0%. FGT has outperformed its peers and the benchmark over one, three, five and 10 years. Strong investor demand along with capital appreciation means the size of the trust has grown significantly; assets under management now approach £1bn.

FGT's current 0.8% share price premium to cum-income net asset value is broadly in line with the averages of the last one, three, five and 10 years. It is active in managing investor demand, between end H116 (31 March) and end-September 2016 a further 12.8m shares were issued, representing an additional 9.9% in share capital. Although FGT is in the AIC UK Equity Income sector, it has a mandate for capital and income growth; its current dividend yield is 2.0%.  

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