FINSBURY GROWTH & INCOME TRUST PLC (FGT)

FINSBURY GROWTH & INCOME TRUST PLC (FGT)

Blog posts

Words of Wisdom from Nick Train at the Finsbury Trust AGM

Here's a very brief report on the AGM of Finsbury Growth and Income Trust (FGT) held yesterday (4/2/2016) - there is a much longer one here. This very successful, and hence popular, investment trust is managed by Nick Train and colleagues and has been for many years. I'll skip over the concerns about this trust such as the Chairman having too many jobs and there are way too many directors who have been on the board too long, and focus on Mr ...

Issuing More Shares in Investment Trusts – Finsbury Gr. & Inc. et al

Now that many investment trusts trade at a premium to their net assets value, it has become commonplace for them to issue more shares so as to "meet demand" as they tend to say. The latest example of this is at Finsbury Growth & Income Trust Plc (FGT) which is one of the better performing trusts. Other examples of those who do it regularly are City of London Investment Trust and City Merchants High Yield Trust. In the case of  Finsbury they ...

AGM Reports

Finsbury Growth & Income Trust Plc (FGT) AGM Report 2019

A brief AGM report on the above company as follows: 200 shareholders present when we started. Anthony Townsend introduced the board etc…… before we moved to the formal business of the meeting. A few nonsense questions from shareholders, one asking if we will get an attendance card when the proxy voting goes online only – answer from the CoSec was yes. Another asked if the trust had had any issues under the audit materiality threshold, due to the threshold being a rather high £14 ...

Finsbury Growth & Income Trust (FGT) AGM 2017

Today I attended the Annual General Meeting of this company in the City of London Guildhall. Over a hundred shareholders attended, not withstanding a derailed train and a strike on the underground, and so we started promptly at midday. Some financial highlights of Finsbury’s results this year are as follows: NAV up 18%, 8% rise in dividends to 13.1p and ongoing charges dropped to 0.7% (from 0.8%). The Chairman Anthony Townsend started the meeting by moving straight to the formal business of the ...

Finsbury Growth & Income Trust (FGT) AGM Report 2016

I attended the Annual General Meeting of this company in the City of London Guildhall today. The meeting started at 12.00 am (and with no refreshments before, only after). In my experience Chairmen who choose that time usually do so as it enables them to cut off questions early (e.g. at 1.00 pm when folks are getting hungry), and so it turned out. The Chairman Anthony Townsend who also chairs seven other companies (way too many!) did not bother to introduce his ...