Nick Train defends Finsbury Growth & Income as it returns less than half its benchmark

Trust returned 10.6%

Following a period of significant underperformance, Nick Train, manager of the £2.1bn Finsbury Growth & Income trust, has explained his investment rationale for each of the 17 stocks that make up 98% of the portfolio in a lengthy statement in the annual report released today (15 December).

The company's net asset value per share total return was 10.6%, for the year to the end of September, while the share price total return was 6.3%. The annual report acknowledged this was "disappointing"...