F&C Investment Trust

Global Growth

Rated Fund 2015-17. Perfect for investors with smaller portfolios

Foreign & Colonial, the UK's oldest investment trust, established in 1868, was highly commended in the Best Global Growth Trust category of Money Observer's investment trust awards in 2017. A near £4 billion trust, it is low-cost (0.53 per cent) and very well-diversified, holding more than 500 companies in 35 countries.

Describing itself as conservatively managed, the trust aims to be at the centre of an investor's portfolio'. David Liddell, a director of IpsoFacto Investor, an online investment advisory service, believes it fulfils that role. For investors who like to sleep at night, Foreign & Colonial fits the bill and is perfect for smaller portfolios where investors want some international exposure,' he says.

The trust has been managed since 2014 by Paul Niven, who decides the asset allocation and level of gearing. He divides the portfolio into a range of global and regional strategies. Some of these are subcontracted to external managers.

Niven can have 20 per cent in private equity (7 per cent in June 2017); incorporating this, the portfolio had 47 per cent of assets in North America, 20 per cent in Europe, 13 per cent in emerging markets, 11 per cent in Japan and less than 6 per cent in the UK at the end of 2017.

Besides its long-term growth objective, it has a 47-year history of annual dividend increases. It yields 1.6 per cent and pays dividends quarterly.

Shares in the trust have traded within a range of a 3 per cent premium to a 12 per cent discount over the past three years.

Narrative and ratings content all as of 01 January 2018.

See all Money Observer rated funds
Name
F&C Investment Trust
Manager
BMO Investment Business Ltd
Type
Closed Ended Investment Company
ISIN
GB0003466074
Sector
Global
Launched
19/03/1868
OCF
0.52 %
Risk Rating
3
3 Year Sharpe
1.21
3 Year Alpha
2.51
Yield
1.7 %
Benchmark
FTSE All World TR GBP
Fund Size
£ 3.68 billion
NAV
663
Gearing
108
Discount Premium
1
To secure long-term growth in capital and income from an international diversified portfolio of listed equities, as well as unlisted securities and private equity with gearing.
Holding %
Amazon.com Inc 1.99 %
Microsoft Corp 1.60 %
UnitedHealth Group Inc 1.24 %
Anthem Inc 1.12 %
Pfizer Inc 0.91 %
JPMorgan Chase & Co 0.81 %
Alphabet Inc Class C 0.81 %
Boeing Co 0.72 %
Novo Nordisk A/S B 0.72 %
Lowe's Companies Inc 0.71 %
Region %
United States 53.46 %
Eurozone 11.00 %
Japan 10.59 %
Asia - Emerging 7.25 %
United Kingdom 7.08 %
Sector %
Financial Services 19.07 %
Consumer Cyclical 15.91 %
Technology 15.69 %
Healthcare 13.28 %
Industrials 11.60 %
Consumer Defensive 8.84 %
Name
BMO Investment Business Ltd
Address
EH2 3BU, Edinburgh, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Paul Niven
Joined 07/01/2014

Paul Niven is Managing Director and Head of Multi-Asset Portfolio Management. He is also Fund Manager for the F&C Investment Trust. Paul joined the firm in 1996 and has worked in Asset Allocation and Investment Strategy since 1999. Paul has had responsibility for the management of Multi-Asset mandates within the group since 2002 and is Chair of the Investment Policy Group. Paul graduated from the University of Strathclyde with a BA (Hons) in Accounting and Economics, obtained an MPhil in Finance, and is a member of the UK CFA Institute.

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