Finsbury Growth & Income Trust PLC · LSE:FGT
Finsbury Growth & Income Trust — Investor Presentation (August 2024)
19 slides from Finsbury Growth & Income Trust's investor presentation, August 2024
Slide 1: Finsbury Growth & Income Trust PLC
Finsbury Growth & Income Trust PLC August 2024 Private & Confidential, not for public dissemination. 1 ©LindsellTrain2024
Slide 2: Important Notice
Important Notice Private & Confidential – Not for public dissemination Portfolio Manager: This document is intended for use by There is no guarantee that the trust will Any change in the tax status of a trust could Nick Train Shareholders of the Finsbury Growth & achieve its objective. The Finsbury
Slide 3: Important Notice
Important Notice Private & Confidential – Not for public dissemination Portfolio Manager: Opinions expressed whether specifically, or in Nick Train general, or both on the performance of individual securities and in a wider economic context represent the view of Lindsell Train at the time of prepara
Slide 4: If you want different performance you must invest differently
“If you want different performance you must invest differently” Sir John Templeton Finsbury Growth & Calendar Year FTSE All-Share TR% Relative Return % Annualised Return 2001-2024 Income Trust PLC % 2001 -10.9 -13.3 +2.4 Trust 8.9% 2002 -21.6 -22.7 +1.1 FTSE All-Share TR 5.4% 2003 22.6 20.9 +1.7 Out
Slide 5: Principles To Practice
Principles To Practice NAV % Most Recent Annual Dividend Increase % A Portfolio for 2034: RELX 13.07 +7.5 Digital Winners 59% Experian 12.83 +7.0 Luxury/Premium 21% London Stock Exchange 12.67 +5.0 Beloved/Trusted Brands 14% Sage 10.40 +6.0 Market Proxies 6% Unilever 10.06 Unchanged Diageo 9.88 +5.0
Slide 6: Concentrate to Create Wealth, Diversify to Protect Wealth
Concentrate to Create Wealth, Diversify to Protect Wealth Investment Trust structure allows us to The Magnificent Five back and run long-term winners • 19 holdings • Top 10: c. 85% • 5 Holdings >10% NAV • Leverage: c. 2% 6 Source Lindsell Train March 2024.
Slide 7: Attractive Portfolio Characteristics
Attractive Portfolio Characteristics World #1 World #1 luxury outer wear real-time financial data 90% + FTSE 100 or equivalent World #1 World #1 global spirits scientific/legal/risk data <1.5% below World #1 UK #1 £500m market cap credit rating agency property portal World #1 ‘Best in Breed’: >90% W
Slide 8: UK Equity - Attractive Portfolio Characteristics
UK Equity - Attractive Portfolio Characteristics Est. Long-Term Price/Earnings Dividend Yield Return on Equity Earnings Growth 22X 2.3% 26% 9.5% Source: Lindsell Train & Bloomberg. Lindsell Train UK Equity representative account. Portfolio average weighted data for year to 31 December 2023 (12 month
Slide 9: Compelling Core Theme
Compelling Core Theme Credentials for AI Success Market Leading Data Set Industry Leader Global Targeted R&D Workflows not Transactions B2B not B2C 50% of NAV vs Index Weight c.8% 9 Source: Lindsell Train & Bank of America 2023. Stocks represent those within the Finsbury Growth & Income Trust as of
Slide 10: Top Holdings
Top Holdings Health, Wellbeing, Prestige Beauty now 27% of group “No one wants to pour their In 3m of 6m stores in China revenues, 6% volume growth friends Costco vodka” In 5m of 9m stores in India in Q4 2023 1700% 650% 1100% Diageo Mondelez Unilever 1500% FTSE All Share Total Return FTSE All Share
Slide 11: Top Holdings
Top Holdings Revenues Shares £m in issue (m) Arguably the whole Enterprise 2002 500 500 Value is covered by Private 2023/24 e.3000 384 Wealth & Private Equity AUM 1790% 500% Burberry Schroders 1590% FTSE All Share Total Return 400% FTSE All Share Total Return 1390% 1190% 300% 990% 200% 790% 590% 100
Slide 12: Top Holdings
Top Holdings HL has delivered 11% p.a. vs Of Experian, Equifax and 5% p.a. FTSE All-Share since its Transunion only Experian offers listing. Is the long-term growth Data and Software Solutions. resuming? 850% 1550% Experian Hargreaves Lansdown 750% 1350% FTSE All Share Total Return FTSE All Share To
Slide 13: Top Holdings
Top Holdings Since 1984, 3 FTSE 100 London Stock Market now companies turned £100 into 3% of LSEG’s revenues £30k. RELX #1 4450% 1500% London Stock Exchange Group RELX 3950% 1300% FTSE All Share Total Return FTSE All Share Total Return 3450% 1100% 2950% 900% 2450% 700% 1950% 500% 1450% 300% 950% 100
Slide 14: Top Holdings
Top Holdings “Our US investors ask us why we don’t invest to grow at 15% rather than 10%.” 200% Sage 150% FTSE All Share Total Return 100% 50% 0% -50% -100% 1999 2000 2005 2011 2017 2023 2024 Source: Bloomberg and Sage. Data extracted April 2024. Data shown is the total return with dividends reinves
Slide 15: Number of Chargeable Services that Rightmove Offers Customers
Number of Chargeable Services that Rightmove Offers Customers 33 85% share of time spent on property portals 29 26 21 “We are 19 leveraging by 17 15 far the largest 14 dataset in the industry.” JOHAN SVANSTRÖM, CEO, RIGHTMOVE 2016 2017 2018 2019 2020 2021 2022 2023 Source: Lindsell Train & Right Mov
Slide 16: Why Invest in UK PLC?
Why Invest in UK PLC? • W e believ e th e n ex t deca de w ill s ee a bu ll m a r k et dr iv en by AI, Softw a r e, Da ta , An a ly tics a n d Lu x u r y Br a n ds • Th e UK Stock M a r k et is h om e to w or ld cla s s com p a n ies th a t offer a cces s • Th e v a lu a tion s of m a n y of th es e
Slide 17: Additional Information Index
Additional Information Index Responsible Investment & Company Engagement 18 Biography 19 17
Slide 18: Responsible Investment & Company Engagement
Responsible Investment & Company Engagement • We invest in companies with the expectation of holding them for the very long term. We characterise this as Responsible Investing. • We therefore have to consider all factors that will impact the durability of a company, including environmental, social a
Slide 19: Fund Manager
Fund Manager Nick Train UK & Global Equities Nick co-founded Lindsell Train Limited in 2000 and is the firm’s Chairman. He is the portfolio manager for UK equity portfolios and jointly manages Global equity portfolios. Nick has over 40 years’ experience in investment management. Before founding Lind
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