Nick Train defends Finsbury Growth & Income as it returns less than half of benchmark

Trust returned 10.6%

Kathleen Gallagher
clock • 2 min read
Nick train explains underperformance
Image:

Nick train explains underperformance

Following a period of significant underperformance, Nick Train, manager of the £2.1bn Finsbury Growth & Income trust, has explained his investment rationale for each of the 17 stocks that make up 98% of the portfolio in a lengthy statement in the annual report released on Wednesday.

The company's net asset value per share total return was 10.6%, for the year to the end of September, while the share price total return was 6.3%. The annual report acknowledged this was "disappoin...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Investment

Abbie Llewellyn-Waters talks to Richard Romer-Lee

Talking with... Abbie Llewellyn-Waters

'The key is to think long-term'

Richard Romer-Lee
clock 10 August 2022 • 4 min read
Follows review of 550 funds

abrdn confirms plans to merge or close 100 funds

‘Subscale, inefficient or not aligned’

clock 09 August 2022 • 1 min read
Stephen Bird, abrdn chief executive

Growth ambitions delayed as abrdn profits drop and AUM shrinks

Investment performance weakens

James Baxter-Derrington
clock 09 August 2022 • 2 min read