Finsbury Growth & Income Trust PLC has released its unaudited half-year results for the six months ended 31 March 2024. The company's investment objective is to achieve capital and income growth, providing shareholders with a total return exceeding that of the FTSE All-Share Index. Finsbury Growth & Income Trust PLC primarily invests in UK-listed companies or those with significant operations in the UK, with a maximum of 20% of the portfolio allocated to companies not meeting these criteria.
The company's portfolio typically consists of up to 30 investments, with a focus on FTSE 100 and FTSE 350 companies, representing between 50% and 100% and at least 70% of the portfolio, respectively. Additionally, the company has limitations on the percentage of its net assets that can be invested in single issuers and other listed closed-ended investment companies.
Finsbury Growth & Income Trust PLC also has the flexibility to invest in preference shares, bonds, and other debt instruments, with a maximum of 25% of its gross assets, and up to 10% in cash. The company's gearing policy dictates that gearing will not exceed 25% of its net assets. Notably, the company publishes its Active Share scores to highlight the portfolio's difference from the benchmark index.
The company's net assets as of 31 March 2024 were £1,747.3 million, with Frostrow Capital LLP serving as the appointed Alternative Investment Fund Manager and Lindsell Train Limited as the Portfolio Manager. An interim dividend of 8.8p per share was paid on 17 May 2024, and it is expected that a second interim dividend will be declared and paid in the Autumn. Finsbury Growth & Income Trust PLC aims to increase or at least maintain the total dividend each year, with the level of dividend growth dependent upon the performance of the companies within the investment portfolio.