Finsbury Growth & Income Trust plc (LON:FGT) has announced its Fact Sheet as at 31 March 2026:
Commentary
In March, the NAV was -7.4% on a total return basis and the share price was -7.8% on a total return basis, while the index was -6.7%.
Over the past quarter of a century our UK equity portfolios have been built around three strategic industry preferences, listed below in order of current exposure:
- Data/Software/Platform companies
- Consumer Brands, with a preference for Premium and Luxury
- Stock Market Proxies, notably Asset Management companies.
These strategic preferences had in common some highly attractive investment characteristics:
- Repeatable/sticky revenues, often subscriptionbased
- Low capital intensity, making for sustainably high returns on capital
- Secular growth trends
For a long time our clients were rewarded by our focus on these three categories and we found and held onto some
strong long-term investment winners. But at the end of another bruising period for your Company, I feel obliged to
review our thinking on each category.
