Thanks Apparition1, that was driving me nuts. |
Sadly, I have had to part with a big chunk of my FCIT holdings today for house buying related expenses. Still, it was relatively pleasing to do so at an all time high. |
Indeed, the ARs for the past few years have irritated me too. I just skip the tosh on ESG and do not go far beyond the Chairman's (I refuse to just say Chair or Chairperson) and Paul Niven's statements.
Wokery is slowly on the wane, the police has refused investigating J.K. Rowling recently and overall politics evolve slowly out of it too. Foreign & Colonial has weathered world wars, depressions and other catastrophes. Hopefully it will weather "that" too. |
Another example....just how relevant is all of this?
F&C INVESTMENT TRUST LECTURE
Following the success of the lectures that the Company
sponsored in 2018, 2020 and 2022, I am pleased to advise
that the Company will again be sponsoring a lecture this
year. The lecture will be held at The Nobu Hotel, London
on 6 June 2024, with the theme "Social Change and
Future Generations " and will feature thought-provoking
presentations from two renowned speakers as well as
information on the Company’s investment approach from
our Fund Manager, Paul Niven.
As tickets will be limited, they will be made available to
shareholders and the public via a ballot, with successful
applicants selected at random. Video clips will be made
available to everyone on the Company’s website following
the event. |
I've also seen it advertised 4 times on TV recently.
I usually jump clear of companies when they start TV advertising, as to me it represents poor value for investors. I was in that situation with Wellesley P2P but was lazy and left it too late to try to get my money back - got locked in and went down with the ship. |
Bit dead here, but have noticed some new radio adverts about fcit, so they are doing more to promote this. The discount needs to narrow, mkt was up a lot yesterday and this barely moved, odd. |
Solid year-end numbers. Why have the Board first killed "Foreign and Colonial" and now changed the branding to pink. All a bit suspect. They should be celebrating its 155 year heritage, rather than erasing it, in my opinion! Surely F&C should be blue like it always was...even their fund manager Columbia Threedneedle uses blue....rant over!! |
Management deserve a little pat on the back for a solid performance here, Outperforming FTSE which has in turn outperformed most other markets.Decision to sell down some of the tech / growth holdings during market bubble was well timed. |
Boiler plate article about the recent re-entry in the FTSE 100. |
Reading the latest interim:
"Valuations in the private equity part of the portfolio have so far held up well and delivered a return of 4.7% over the first six months, however we expect these to come under pressure as the year progresses to reflect what has happened in the public markets. We have continued to make selective investments in this area and agreed a new programme of exposure in leading growth and venture managers which will be managed by Pantheon. These commitments are long-term in nature and our experience in terms of unlisted private equity exposure has, historically, been positive."
So, in essence we are going to fish more and more in Private Equity waters, however incrementally. Good timing to do so now as the PE sector seem to have been oversold.
I, myself, have just taken a position in NBPE to complement my holdings in CTPE (used to be BPET or FPEO in the old days when F&C was independent). Riskier than FCIT of course, but better long term returns indeed. |
The discount has closed a bit last month: 9.2% average in July and 7.0% in August (latest fact sheet).
Now that the FTSE 100 trackers will have to buy FCIT, it might even close a bit more.
It is already trading a lot, the offer/spread is very small so unlikely to improve much on that side of things. |
Confirmation:
FTSE Russell, a leading global index provider, confirms today ConvaTec Group,F&C Investment Trust and Harbour Energy PLC will be joining the FTSE 100 Index as a result of the September 2022 annual review.
From 19th September 2022
Press Release
31 August 2022 |
Announced after market close today.
Scroll down |
Yep, the perfect F&C thread complete with the neverending comments on "You'd be better off with a tracker"... which by definition cannot beat its index. :)
They bleat on about fees even though the fees in an IT are already reflected in the share price anyway. |
F&C INVESTMENT TRUST: Now in its 155th year, £4.7bn trust believes its emphasis on trying to avoid surprises is more appealing than ever |
Back in business baby!
Of course, if it goes too high in the FTSE, it might end up being benchmarked against itself. :) |
Nice bounce since June, back over 9,hopefully continues. |
Foreign & Colonial has moved its website to Columbia Threadneedle to reflect BMO having been bought. |
The number of stocks here is daft, how can they possibly manage this properly. |
No, in fact, we do not own any Twitter according to the latest list of holdings given on April 8th.
We do (did?) have some NETFLIX INC and MOSCOW EXCHANGE MICEX RTS PJ at that time though. |
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