Finsbury Growth & Income: Nick Train Buys First New Stock in 4 Years

Nick Train, manager of the Gold Rated Finsbury Growth & Income Trust has added a new name to the portfolio for the first time in four years - and revealed he almost sold Pearson

Emma Wall 4 February, 2016 | 2:01PM

Nick Train has bought a new company for the Finsbury Growth & Income trust (FGT) for the first time in four years – and he is sticking to his tried and tested strategy. Remy Cointreau (RCO) the premium drinks company founded in 1724 now makes up 1.5% of the trust and joins 19 other holdings founded more than 100 years ago. Remy is also family run – another prominent theme in the portfolio, joining the likes of A G Barr, Fullers, Rathbone and Schroders.

Train said that it was Remy’s compelling valuation which drove the decision to buy the company, and its luxury brand premium.

“Remy shares fell 30% over the summer,” said Train. “Meaning the stock was worth half of the 2015 peak and on par with the 1990 share price. There are very few quality stocks you can buy now for the same price they were 25 years ago, aside perhaps from those listed in Japan.”

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Barr (A G) PLC604.00 GBX2.37
Finsbury Growth & Income Ord912.00 GBX-0.87
Fuller Smith & Turner PLC A914.00 GBX-0.87
Pearson PLC561.40 GBX-3.87
Rathbone Brothers PLC1,996.00 GBX0.81
Schroders PLC3,376.00 GBX-0.32

About Author

Emma Wall  is former Senior International Editor for Morningstar

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