Finsbury Growth & Income Trust recorded a strong recovery in October as shares in several of its major technology and software holdings rebounded.
The trust’s share price increased by 11.8% during the month, making it the strongest-performing investment trust in October, according to Morningstar data. The recovery followed a difficult period for its portfolio, particularly among software and data businesses affected by concerns about artificial intelligence (AI).
Nick Train, who manages the portfolio, has maintained significant exposure to companies including RELX, Experian, Sage and London Stock Exchange Group despite the weakness in their share prices earlier in 2026.
These businesses have faced concerns that advances in AI could disrupt established software models and reduce demand for traditional subscription-based services. However, recent share price recoveries and more positive company updates have supported a change in market sentiment.
Sage, RELX and Experian all recorded gains of more than 20% in October, helping drive the trust’s performance. Sage shares also benefited from a more positive assessment of its business outlook.
The recovery follows a challenging first half of 2026, when Finsbury reported a 14.4% decline in NAV total return for the six months to 31 March. The board subsequently introduced changes to its dividend policy and increased its gearing capacity.
The revised dividend policy is intended to increase annual distributions by at least 50%, while greater use of borrowing provides additional investment capacity.
Finsbury Growth & Income Trust Plc (LON:FGT) invests in the shares of predominantly UK-listed companies, with the objective of achieving capital and income growth.
