F&C Investment Trust Ord (LSE:FCIT)

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Trading AccountISAJISASIPP

Trust Info

  • Market Cap£4.185bn
  • OCF0.89%
  • AIC sectorGlobal
  • Manager GroupBMO
  • Currency
  • ISINGB0003466074

Investment Strategy

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. Company is restricted to invest mainly in readily realisable, publicly listed securities and that the level of borrowings.

ii Super 60 selected

This Investment trust is a member of our ii Super 60 rated list

Describing itself as cautiously managed, F&C is the UK’s oldest investment trust and was established in 1868. It aims to appeal to those looking for their first investment or a core option for their portfolio. The trust has £3.8 billion of assets under management with low annual running costs (0.65%) and well-diversified portfolio, holding more than 500 companies across 35 countries.

Paul Niven has been its manager since 2014, when BMO Asset Management bought the F&C funds business. Niven is responsible for the asset allocation and level of gearing. He divides the portfolio into a range of global and regional strategies. Some of these, notably US equities and private equity, are subcontracted to external managers. Niven is permitted to have up to 20% exposure to private equity. Around 60% of the trust is held in US shares.

Besides its long-term growth objective, the trust has a 49-year history of annual dividend increases. It yields around 2% and pays dividends quarterly.

October 2020

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