10th Dec 2015 17:57
LONDON (Alliance News) - Finsbury Growth & Income Trust PLC on Thursday said it outperformed against its benchmark index in its last financial year.
the trust, which aims to generate capital and income growth and provide shareholders with a total return higher than delivered by the FTSE All-Share Index, said its net asset value per share total return was 12.0% in the year ended September 30 and the share price total return was 11.8%.
"The principal contributions to net asset value performance came from our major holdings in Sage Group, London Stock Exchange and Hargreaves Lansdown," Chairman Anthony Townsend said in a statement.
The FTSE All-Share Index, measured on a total return, basis fell by 2.3% over the same period.
"The global economic recovery continued in 2015, albeit patchily, and there are indicators that suggest market conditions may continue to gradually improve in 2016," Townsend said.
"Your board continues to support fully our portfolio manager?s strategy of investing in high quality companies that own both durable and cash generative brands. We believe firmly that this will continue to deliver strong investment returns to shareholders over the longer term," Townsend said.
Shares in Finsbury Growth & Income Trust closed down 1.4% at 570.00p on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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