Last checked at 
10 May 2018 13:12
London, UK, 10 May 2018
Edison issues review on Finsbury Growth & Income Trust (FGT)
Finsbury Growth & Income Trust (FGT) is managed by Nick Train, who runs a concentrated portfolio of primarily UK equities, aiming to generate long-term capital and income growth. A key feature is the trust's low portfolio turnover - initiating a new holding or a complete disposal of a position happens very infrequently. FGT is invested in just four out of 10 sectors of its benchmark FTSE All-Share index. Shareholders have benefited from the manager's focused, long-term investment approach, with the trust having significantly outperformed its benchmark over the last one, three, five and 10 years. Train remains optimistic on the outlook for FGT's portfolio companies and has been taking advantage of individual share price pullbacks, adding to some of his largest positions, such as Burberry.
FGT's current 0.4% share price premium to cum-income NAV is broadly in line with the average premiums of the last one, three and five years (range of 0.5% to 0.6%). The board actively manages the premium, regularly issuing shares to satisfy unfulfilled buy orders in the market. FGT has a progressive dividend policy, aiming to grow annual dividends at a rate higher than UK inflation. Based on its current share price, the trust has a dividend yield of 1.9%.
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