F&C board ups risk profile

F&C Emerging markets' board has urged managers to gear up on good stock picking ideas

The board of the £122m F&C Emerging Markets investment trust wants the managers to back their market views with greater conviction and higher gearing where necessary. Managers Jeff Chowdhry and Nick Timberlake outperformed in the trust's last full financial year, to 30 September, but the board wants to see a higher level of outperformance in the future. During the 12 months to the end of September, the company's NAV increased by 39% while the share price grew by 41.8%. In comparison, the trust's benchmark, the S&P/IFC Investable Composite Total Return Index, rose by 38.6% in sterling term...