Nick Train: FGT is primed for improved confidence in UK equities

Lack of oil and mining continues to bite

James Baxter-Derrington
clock • 1 min read

Finsbury Growth & Income (FGT) manager Nick Train has warned the trust is likely to endure further disappointment but is well-positioned for “any improved confidence” in UK markets.

Noting the trust's 3.2% NAV loss and 3% share price drop, compared with its benchmark's 2.5% gain, Train explained "all the breaks are running against" FGT currently, largely due to its non-participation in the oil and mining share rallies. He added the "meaningful positions" the trust occupies in the premium and luxury consumer spaces have continued to detract from performance, while its data and software holdings gave back gains across April. Nick Train adds to Rightmove as long-term holdings Burberry and Remy Cointreau struggle Train held his ground against the falling values of...

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