Finsbury Growth & Income Share Discussion Threads

[mozy123] 26/3/2024 19:44

8.8p interim divi

Fevertree, AG barr helping today

[spangle93] 01/3/2024 11:17

Interview with Morningstar, where Mr Train defines and defends his portfolio

[123ct] 23/2/2024 15:39

I am not a holder but keep an eye on this IT because of the brands they have and the market updates provided by these companies.

FGT seems to suffer in the same way as many other UK Investments that the US equivalent competitor firms and sectors, eg consumer staples trade on higher multiples which is why UK firms are delisting and moving to the US market.

Until the UK returns to favour I cannot see a return to multiples expansion and will keep UK undervalued notionally for a long time.

[steve3sandal1] 23/2/2024 13:39

I'm a bit keener than that but I take your point on the implementation of AI. I think of it as pregnant with possibilities. I thought Madeline's piece was even exciting once we got past Nick's incessant apologies. It's certainly tilted and I favour the portfolio over the FTSE. Good luck.

[shieldbug] 23/2/2024 12:42

I keep thinking this should be a great buy and then I look more closely and do nothing. In the recent video they make a big deal of AI. While I am sure AI is a going to be a big thing I don't think it is somehow going to change everything, everywhere and in short order. It costs a lot and I suspect it will actually take a lot of time to implement AI on a meaningful scale. So there could be a period of higher costs, seeming lack of progress and all for an uncertain outcome. Not that compelling in my view.

[mozy123] 09/1/2024 17:04

NT with another purchase - must struggle putting it in his isa ;)

[steve3sandal] 07/12/2023 12:12

I’m also invested here (2013) but if I wanted an All Share return I’d buy an ETF which does just that. Amongst other styles, I’m invested in Nick Train vehicles as I want some money in these themes. It’s not worked out in the past 3 years but it has in 10 and I hope it will in 20.
From this starting point and with most major holdings (ex LSEG RELX) getting trashed recently despite their high ROEs I think there are worse ideas than topping up. I was fortunate to buy at £5/6/7/8 something and reduce at £9something in those 10 years and expect to do so again. Not being clever just DRIP and top slicing.

[spangle93] 07/12/2023 08:00

Well done to the management team here. Last year they were 20th of 23 in their peer group over 3 years. This year they've excelled to become 22/23 against comparable companies for that time period. In the face of such great performance, they will doggedly stick to their stated philosophy

How the manager retains his golden boy image in the financial press escapes me.

I'm sure they'll still get a performance bonus based on some measure though.

[spangle93] 28/7/2023 09:09

Latest free but paid for research by Edison

It points to good times returning, after a very long spell of underperformance.

It certainly is distinct from its peer group (Exhibit 9). Of the 20 companies, it's either top or bottom for every metric bar a couple (charges and discount)

[mozy123] 28/4/2023 16:39

LSEG also making good progress and nice sold results.

LSEG was so mispriced a few months ago.

[steve3sandal] 28/4/2023 16:18

Life in the old thread then. Hopefully take out Jan 22 top and make a new ATH in the next few months. Perhaps the discount will close a bit as it starts to be seen on shorter term performance tables. Yes I know that’s not the time to buy but we know that that will attract money.

[mozy123] 28/4/2023 15:41

Mondelez helping here today. Diageo not so much.

[mjames20] 19/4/2023 15:24

Heineken, a top 10 holding, announced its first quarter results today. Revenue up 8.9% and a high single digit increase in profits. The holdings in the FGT portfolio continue to do well. Hopefully this will be eventually reflected in the trust share price.

[mozy123] 30/12/2022 12:48

Bought some more to take my position to 6% of my investable assets.

Catching Nick Train.....

[mozy123] 07/7/2022 23:41

The Company has been notified that on 7 July 2022, Nick Train purchased 50,000
Ordinary Shares of £0.25 each in the Company ("Ordinary Shares") at an average
price of 787.30 pence per share.

As a result of the transaction, Mr Train now holds interests in a total of
4,432,639 Ordinary Shares, representing an aggregate 2.01% of the Company's
issued share capital.

[thruxie] 13/6/2022 13:43

Thankfully I sold out of this last year but still read Nicks musings with keen interest. For all he bangs on about quality FGT hasn't performed nearly as well as CTY which is stuffed full of miners, oil and the likes of BAE etc.

The contrarian in me feels maybe to start drip feeding back in over the next few months...In 5 years this will all be another dip on some graph.

[shieldbug] 13/6/2022 13:15

Wow. 1.9%.

[steve3sandal] 24/5/2022 11:29

Nick Train just stuck £200,000 in to top up his £35M holding.I was thinking of doing the same but without the noughts.Can't hurt.KeywordCompanyEPIC/TIDMSEDOL/ISIN PriceAnnouncementsFundamentalsNewsArticleRSSFinsbury Growth & Income T (FGT)Add to Alerts list Print Annual reportsTuesday 24 May, 2022Finsbury Growth & Income TNotification of Transaction24 May 2022FINSBURY GROWTH & INCOME TRUST PLC(the "Company")Notification and public disclosure of transactionAs part of the Company's commitment to transparency, the Board intends to disclose details of transactions in the Company's shares by its Portfolio Manager, Nick Train.The Company has been notified that on 23 May 2022, Nick Train purchased 25,000 Ordinary Shares of £0.25 each in the Company ("Ordinary Shares") at a price of 782.4 pence per share.As a result of the transaction, Mr Train now holds interests in a total of 4,327,639 Ordinary Shares, representing an aggregate 1.9% of the Company's issued share capital.

[shieldbug] 01/4/2022 11:54

It does look relatively cheap. Share price below pre-pandemic levels. The companies are arguably doing well but individually there are some pricey stocks among them. Have been adding at these (discounted) lower levels.

[scrambled] 21/3/2022 10:29

I bought into this today as I believe there has been an oversell recently. Should see a correction in due time

[essentialinvestor] 14/2/2022 09:14

Does anyone have a view on EXPN.

Nick's mentioned EXPN as a main buy recently.

I put it back on a watchlist late last week but there are some potential issues
as mentioned on the EXPN board. Personally would view it has more speculative.

[topvest] 09/2/2022 20:52

EssentialInvestor - I agree that it was a good idea, but the timing was wrong and because the timing was wrong then the top end price was also wrong. It might have been possible if Unilever share price was 50% higher. Simple numbers, they were offering 50% of the Unilever market cap for a business a quarter of the size. Crazy to be giving away equity for something valued so much higher than their own great business. I think Terry Smith summed it up better.

Unilever probably needs a Board reset as they have had a poor 5 year period. They also need to get their own house in order as the performance has been lacklustre. Terry Smith is spot on, as ever.

Nick Train is a very good investor, but is sometimes a tad over loyal to his holdings. £50bn was a very full price.

I am not sure what planet GSK are on, but surely anything around £50bn is a very good price for a £10bn turnover £2bn profit business. I would be very surprised if the market cap on IPO is anywhere near that and more possibly £40bn.

[essentialinvestor] 09/2/2022 19:49

With the respect to Nick, the Unilever bid for GSK CH was a good idea
but at a very bad price. Timing not really an issue, unless he tied price
to that bad timing rational.

[steve3sandal] 09/2/2022 19:38

Thanks p56. I was hoping there would be a recording of the managers presentation in due course.