Portfolio Manager Factsheet

September 2015

I have taken advantage of the Summer/Autumn correction to start a new holding. The stock is Remy Cointreau and this means I am adding to the permitted allocation of up to 20% to non-benchmark stocks. Before the Remy purchase that weighting stood at 16%. The previous “new” holding – from four years ago - was also non-UK and I have to acknowledge what that signals to investors; that I have been unable to find a new UK candidate for FGT in a long time. The stock I bought in 2011 was also a drinks company – Heineken - and was also accessed during a period of intense investor macro-economic worry; at that time the first wave of Grexit concern.

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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.