Review: Outperformance from a concentrated portfolio
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%.Finsbury Growth & Income Trust is an investment trust company. Co.'s investment policy is to invest principally in the securities of U.K. listed companies, whilst up to a maximum of 20.0% of its portfolio, at the time of acquisition, can be invested in quoted companies worldwide. The portfolio will normally comprise up to 30 investments. Co. has appointed Frostrow Capital LLP (Frostrow) as alternative investment fund manager to provide company management, company secretarial, administrative and marketing services. Co. and Frostrow have jointly appointed Lindsell Train Limited as portfolio manager.
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