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Finsbury Trust grows by more than half

Investment trust Finsbury Trust has posted a 58 per cent increase in net assets in the year ending March 31.

The fund, which operates mainly in the smaller quoted sector in the UK, gives investors an increase in dividend of 19 per cent to 5p from 3.2p

The investment trust is owned by Apax Finsbury Investment Management, and managed by John Dodd. He mainly invests in what are known as “special situation stocks”, those that are currently undervalued but stand to increase due to changes in management or other structural changes.

Finsbury chairman Jamie Borwich comments about the results: “This performance has been achieved with a portfolio that has not been stuffed full of risky dot-coms, but has rather ridden a remarkable series of take-overs and revaluations, predominantly in the smaller quoted company sector.”

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