F&C Managed Portfolio Trust PLC Edison review of F&C Managed Portfolio Trust

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F&C Managed Portfolio Trust PLC

24 March 2017

London, UK, 24 March 2017

Edison issues initiation on F&C Managed Portfolio Trust (FMPI; FMPG)

F&C Managed Portfolio Trust (FMPT), launched in 2008, comprises two listed investment portfolios - an income portfolio (FMPI) and a growth portfolio (FMPG) - this is a differentiated structure for an investment trust. These portfolios provide investors with a long-term savings vehicle. Both portfolios hold at least 25 investments (currently concentrated portfolios of c 40 investment companies); they are benchmarked against the FTSE All-Share index, however, there are no maximum levels set for underlying exposures to geographic regions or sectors. A unique feature of FMPT is that any net income generated by FMPG is transferred to FMPI in exchange for capital, which benefits the income prospects for FMPI and potential capital growth prospects for FMPG. NAV total returns for both portfolios have outperformed the benchmark over one, three and five years.

The Board ensures that shares trade close to NAV by an active programme of buybacks when appropriate. This enables issuance of shares to meet demand, ensuring good liquidity. The unique structure of FMPT means that FMPG does not pay a dividend, while FMPI's current 3.9% dividend yield compares favourably with its peers in the AIC Global Equity Income sector.

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March 24, 2017 06:17 ET (10:17 GMT)