Finsbury Growth & Income Trust Outperforms Benchmark Index

LONDON (Alliance News) - Finsbury Growth & Income Trust PLC said on Tuesday that it outperformed ...

Alliance News 13 December, 2016 | 12:43PM
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LONDON (Alliance News) - Finsbury Growth & Income Trust PLC said on Tuesday that it outperformed its benchmark index for its most recent financial year.

Finsbury Growth reported its total return on a net asset value per share basis was 21% for its financial year ended September 30. This compares to a 17% total return from the FTSE All-Share Index.

The trust's NAV per share at September 30 was 657.7 pence, up 18% from 556.9p at the same date in 2015.

Finsbury Growth's share price at the closing date of the period stood at 658.0p, having also increased by 18% over the period, from 556.5p.

Shares in Finsbury Growth & Income were up 0.2% at 627.20p Tuesday.

The trust paid out dividends totalling 13.1p a share over the year via two interim dividends. increased by 8.3% from the previous year at 12.1p a share.

The trust, which has its portfolio managed by Lindsell Train Ltd, said that the major contributors to net asset value growth were its holdings in consumer goods group Unilever PLC, payroll software firm Sage Group PLC and publishing company RELX PLC.

Over the period, Finsbury Growth & Income issued 21.4 million new shares, receiving GBP128.1 million in proceeds for investment.

"It is expected that the company’s strategy will remain unchanged in the coming year. Your board fully supports the portfolio manager’s strategy of investing in high quality companies that own both durable and cash generative brands. We believe firmly that this will deliver strong investment returns to shareholders over the longer term," said Anthony Townsend, chairman of the trust.

By Adam Clark; adamclark@alliancenews.com

Copyright 2016 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Finsbury Growth & Income Ord 889.03 553
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