F&C Managed Portfolio Trust PLC Edison review of F&C Managed Portfolio Trust (7699O)

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RNS Number : 7699O

F&C Managed Portfolio Trust PLC

21 May 2018

   TO:                  RNS 
   FROM:            F&C Managed Portfolio Trust 
   DATE:             21 May 2018 
   SUBJECT:      Edison review of F&C Managed Portfolio Trust plc 
   LEI:                 213800ZA6TW45NM9YY31 

Edison issues review on F&C Managed Portfolio Trust (FMPG, FMPI)

F&C Managed Portfolio Trust (FMPT) has a differentiated structure comprising two listed portfolios: income (FMPI) and growth (FMPG). The trust is celebrating its 10th anniversary, and both portfolios have outperformed the benchmark FTSE All-Share index over three and 10 years, while FMPG has also outperformed over one and five years. Any income generated by FMPG is transferred to FMPI in exchange for an equal amount of capital, boosting their respective capital growth and income prospects. FMPI and FMPG have recently changed their Association of Investment Companies (AIC) classifications from the Global Equity Income and Global sectors respectively, to the Flexible Investment sector, which the manager says is a more relevant peer group. FMPI has grown its annual dividend regularly since 2012 and is currently yielding 4.0%.

FMPT's board aims to ensure that both portfolios trade close to NAV. FMPI and FMPG have the authority, renewed annually, to repurchase up to 14.99% and issue up to 10% of shares. As noted above, FMPG does not pay a dividend, while FMPI benefits from the growth portfolio's transfer of income in exchange for capital; it currently offers shareholders an above-average 4.0% dividend yield.

Click here to view the full FMPG/FMPI report.

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May 21, 2018 10:22 ET (14:22 GMT)