Portfolio Manager Factsheet
Daily Mail and General Trust was a poor performer for FGT last month, down 3.6% and now down 11% year-to-date. We have been steadily adding to the position in the belief there is real value in the current market capitalisation. The Mail has also developed an online version of itself and this has become a global phenomenon – the most visited English-language newspaper website, with 49 million daily visitors by April 2017. MailOnline is loss-making, but will this year generate over £100m revenues.
Finsbury Growth & Income Trust PLC conducts its affairs so that its shares can be recommended by independent financial advisers (IFAs) to retail private investors. The shares are excluded from the Financial Conduct Authority's (FCA's) restrictions which apply to non-mainstream investment products because they are shares in a UK-listed investment trust.