Finsbury Growth & Income Trust PLC (LON:FGT) has announced its Fact Sheet as at 30 September 2026
Commentary
In September, the NAV was -7.9% on a total return basis and the share price was -7.8% on a total return basis, while the index was -1.9%.
Despite a challenging month, the Company’s NAV and share price outperformed the index over Q3, up 3.7% and 4.2% respectively, compared to the FTSE All Share’s 2.4%.
The biggest positive contributor to returns over the quarter was Sage (+19%). At time of writing, the shares have started the fourth quarter strongly, too, and are now up over 30% from their lows in July. Sage is an important holding, so its fate as a business and a share price matters for our performance.
In addition, Sage is also in the crosshairs of the current debate amongst global investors as to whether incumbent, business-critical software companies, like Sage, are winners or losers from developments in AI. The company itself is in no doubt. The chair told us earlier in 2026: “AI is an extraordinary tailwind for Sage”. Nonetheless, the executives acknowledge the power and utility of, say, Anthropic and recognise Sage must continue to innovate in order to stay relevant with its
existing and future customers.
