Portfolio Manager Factsheet

April 2016

Burberry was our biggest faller in April, down 13%, hit by downgrades after its trading update. Long term, we think correlation between brand equity per share and earnings per share will be strong.

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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.