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INVESTMENT OBJECTIVES  
LINDSELL TRAIN INVESTMENT TRUST
ACDS LINDSELL TRAIN UK EQUITY FUND
FINSBURY GROWTH AND INCOME TRUST
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Finsbury Growth & Income Trust invests in larger UK company shares with the objective of achieving capital growth and providing a total return in excess of that of the FT All-Share Index

New Investment Management and Administrative Arrangements from 10 April 2007.
Please see RNS Press Release for details.
BENCHMARK
FT All-Share Index (net dividends reinvested)
INVESTMENT APPROACH
- The minimum position size will be 1% of the investment portfolio (other than position building or drawdown period).
- The top 10 holdings will make up approximately 60% of the investment portfolio.
- At least 80% of the portfolio will be invested in stocks of any single issuer within the FTSE 350 index, and not more than 20% outside it (with the exception of government bonds or unlisted subsidiary company) FTSE 100 stocks will make up between 50% and 100% of the portfolio.
- Between 0% and 15% of the investment portfolio can be in preference shares and debt instruments issued by FTSE 100 companies.
- Cash will account for between 0% and 10% of the portfolio.
- Any excess over 10% in cash will require the approval of the Board
PERFORMANCE
NAV, Share Price and Premium data source: Bloomberg. Performance data source: S&P Micropal with dividends reinvested. Data since LTL appointment Jan 2001.
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The value of any investment in securities or funds and the income generated from them may go down as well as up and are not guaranteed. Past performance cannot be used as a guide or guarantee of future performance. You may not get back the original amount you have invested. Changes in foreign exchange rates may cause the value of your investment to go up or down. Some funds with higher gearing or have the ability to short stocks may be subject to higher volatility and the investment value may change substantially.
DISTINGUISHING FEATURES
0.65% of average market capitalisation, plus a performance fee amounting to 15% of any increase in the Trust's market capitalisation in any year, subject to an absolute return hurdle being the sum of the increase in the Retail Price Index in the year plus 6.0%. The total fee payable is capped at 1.25% of the average market capitalisation, in any one year. Any additional out or underperformance is carried over into subsequent years.
DISTINGUISHING FEATURES
- Managers' incentivisation requires achievement of absolute, not relative returns
- Fee calculated in reference to market capitalisation of company, not Gross Asset Value or Net Asset Value
- Absolute return objective and changing of fee to share price both create a strong alignment of interest between Lindsell Train Limited and Finsbury Growth Trust shareholders
- Highly concentrated portfolio, sectors and stocks
- Valuation discipline
  Michael Lindsell and Nick Train are investors in Finsbury Growth & Income Trust PLC
DISTINGUISHING FEATURES
2008 Jan Feb Mar Apr May Jun Jul          
2007 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2005 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
DISTINGUISHING FEATURES
As at 2007 2006 2005 2004 2003 2002 2001
March Interim Interim Interim Interim Interim Interim Interim
September Annual Annual Annual Annual Annual Annual Annual
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FURTHER INFORMATION

Please visit Finsbury Growth & Income Trust PLC

or to invest in the Trust, please contact Grant Challis at Frostrow Capital on 020 3008 4910.

 
 
Investment Manager
Lindsell Train Ltd
Fund Manager
Nick Train since Dec 2000
Launch Date
1926
Fund Size
£120.6mn as at Jun 08
Fund Sector
Long Only UK Equity
Index
FTSE All Share
Bloomberg Code
FGT LN
ISIN
GB0007816068

Listing
London Stock Exchange
Legal Status
UK Investment Trust
Latest Price

 

FGIT INVESTMENT AWARDS
Winner 2004
- Best Growth & Income Trust 2004 Investment Trusts Magazine
Commended 2004
- UK Growth Moneywise Investment Trust Awards
Highly Commended 2006
 - UK Growth Moneywise Investment Trust Awards
Highly Commended 2007
- UK Growth Moneywise Investment Trust Awards

 

 
LINDSELL TRAIN LIMITED 2 QUEEN ANNE'S GATE BUILDINGS DARTMOUTH STREET LONDON SW1H 9BP
TEL: +44 (0)20 7227 8200 FAX: +44 (0)20 7227 8299 EMAIL: info@LindsellTrain.com
Lindsell Train Limited is authorised and regulated by the Financial Services Authority
© 2008 Lindsell Train. All rights reserved. Legal Disclaimer.