Overview
F&C Investment Trust was founded in 1868 as the first ever investment trust with the purpose of providing the investor of more moderate means access to the same opportunities and advantages as the very largest investors.
Its purpose today is essentially unchanged and is to provide a diversified, convenient and cost effective global investment choice to meet the longer term investment needs of investors large or small.
Its objective is to achieve long-term growth in capital and income through a policy of investing primarily in an internationally diversified portfolio of publicly listed equities, as well as unlisted securities and private equity, combined with the use of gearing.
Its approach is designed to obtain the investment performance benefits from a range of individually concentrated global and regional portfolios alongside the diversification benefits of lower risk and lower volatility achieved by managing these portfolios in combination. It offers a globally diversified portfolio of growth assets.
You can access the company’s website here
FCIT : F&C Investment Trust
Fundamentals
Price
Research History
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27 Sep 2024 1 min read
Interview with Paul Niven from F&C Investment Trust
In this week’s show, James Carthew spoke to Paul Niven from F&C Investment Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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06 Oct 2022 9 min read
QuotedData’s Investment Companies Roundup – October 2022
Investment Companies Monthly Roundup Kindly sponsored by Baillie Gifford and abrdn October 2022 Monthly | Investment companies Winners and losers in September 2022 September’s median total share price return was -6.4% (+0.4% in August). The median NAV return over September was -1.2%. See Appendix 1 for a breakdown of how all the sectors have […]
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03 Jul 2020 1 min read
QuotedData’s weekly roundup 3 July 2020
James Carthew’s weekly news roundup show for Friday, 3 July, covers the demise of Aberdeen Frontier Markets, good results from Civitas Social Housing, updates on Syncona, NextEnergy Solar and Gore Street Energy Storage, comment on discount and share price moves from Andrew McHattie, and an interview with Paul Niven, manager of F&C Investment Trust. Listen […]
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07 Aug 2019 5 min read
QuotedData’s economic roundup – August 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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15 Aug 2018 1 min read
QuotedData’s Economic round up – August 2018
QuotedData’s Economic round up – August 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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03 Aug 2017 2 min read
QuotedData’s economic round up – August 2017
QuotedData’s economic round up – August 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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10 Apr 2017 1 min read
QuotedData’s round up of views on the global economy – April 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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14 Feb 2017 1 min read
QuotedData investment companies roundup – February 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2017. Kindly sponsored by Baillie Gifford. February Investment Companies Roundup
News
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08 Mar 2024 1 min read
QuotedData’s weekly news show 8th March 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Hipgnosis Songs Fund (0:26) • Alliance Trust versus F&C (5:46) • Triple Point Energy Transition (9:59) This week’s interview was with Richard Aston from CC Japan […]
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3 min read
QD view – Clash of the titans
Alliance Trust and F&C Investment Trust are two of the largest investment trusts offering investors access to a global portfolio of shares. Both are well over 100 years old, with a good track record of adapting to changing circumstances. There has always been something of a rivalry between them, but it feels to me as […]
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4 min read
F&C held back by underexposure to ‘Magnificent Seven’ during 2023
F&C Investment Trust (FCIT) has announced its results for the year ended 31 December 2023, during which it provided NAV and share price total returns of 11.3% and 8.1% respectively, both underperforming its All-Share benchmark, which it says returned 15.1%. 2023 was a good year for global equity markets after significant losses during 2022 and, […]
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10 Mar 2023 1 min read
QuotedData’s weekly news show 10th March 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Oakley Capital Investments (0:32) • Alliance Trust versus F&C (8:58) • Henderson Opportunities (13:04) This week’s interview was with Anthony Catachanas from VH Global […]
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09 Mar 2023 1 min read
F&C positive returns driven by falls in the vaue of its debt
F&C Investment Trust reports an NAV return for 2022 of -5.3% and a return to shareholders of -0.9%. The trust benchmarks itself to the FTSE All World Index which it says returned -7.7%. The trust moved into the FTSE100 Index during the year. The full-year dividend was 13.5p, 5.5% higher than the previous year and […]
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25 Jul 2022 2 min read
QuotedData’s morning briefing 25 July 2022
In QuotedData’s morning briefing 25 July 2022: Aquila Energy Efficiency (AEET) has committed a further £8.3m of which £3.9m has been deployed in a project including a cluster of 32 energy efficiency projects for small residential buildings and condominiums qualifying for the Italian Superbonus incentive scheme. It has also committed to three transactions in Spain, […]
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08 Jul 2022 6 min read
QD view – Multi-manager trusts – a safe haven in current choppy markets?
What a week it has been in UK politics and markets. As I write, the political manoeuvring in Westminster continues to dominate the headlines and, from what I can see, this tale clearly has some way to go and so it will be grabbing more than its fair share of airtime for a while yet, […]
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10 Mar 2022 1 min read
F&C cuts fees and ups dividend
F&C cuts fees and ups dividend – F&C Investment Trust beat its benchmark over 2021, delivering an NAV return of 21.7% against 19.5% for the All-World index. The share price lagged the NAV a little and delivered a return to shareholders of 19.4%. The company’s private equity holdings did well as did its investments in listed […]
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11 Aug 2021 1 min read
Industry veteran and former F&C chair Simon Fraser passes away
Industry veteran and former F&C chair Simon Fraser passes away – Simon Fraser, former chief investment officer at Fidelity International and investment trust industry veteran, has passed away following a short illness, aged 62. He spent 28 years at Fidelity, starting in 1981, where he worked in the US, Europe and Asia. After leaving Fidelity, Fraser spent […]
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26 Jul 2021 2 min read
QuotedData’s morning briefing 26 July 2021
In QuotedData’s morning briefing 26 July 2021 F&C (FCIT) has released its interim report for the six months to 30 June 2021. During this time the NAV total return was 12.3%, ahead of the FTSE All-World index which returned 11.1%. However, the company’s share price total return was slightly behind, at 8.3% – which the board […]
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07 May 2021 3 min read
QD view – how the top 10 trusts have changed
I was playing with the QuotedData data pages this week – looking at factors such as widest discounts and highest yields – then I alighted on the 10-largest funds by market cap and I have to admit that some names on that list were a surprise to me. Fortunately, I had some old data from […]
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10 Mar 2021 2 min read
F&C proposed final dividend would represent the 50th consecutive annual increase
Global sector company, F&C (FCIT), has reported its annual results to 31 December 2020. The company’s growth and income mandate is carried out through investments in public markets, unquoted investments and private equity. With a market cap of £4.14bn, it is amongst the largest closed-end investment companies and was the first investment trust to launch, back […]
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27 Jul 2020 4 min read
F&C could deliver another dividend increase
Global sector company, F&C (FCIT), has reported its interim results to 30 June 2020. The company’s growth and income mandate is carried out through investments in public markets, unquoted investments and private equity. With a market cap of £3.8bn, it is amongst the largest closed-end investment companies and was the first investment trust to launch, back […]
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16 Mar 2020 2 min read
F&C reports annual results and update on covid-19
Global sector company, F&C (FRCL), has reported its annual results to 31 December 2019. The company’s growth and income mandate is carried out through investments in public market, unquoted investments and private equity. With a market cap above £3bn, it is among the largest closed-end investment companies and was the first investment trust to launch, […]
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29 Jul 2019 1 min read
QuotedData’s other news 29 July 2019
In QuotedData’s other news 29 July 2019 F&C Investment Trust is 2% behind its benchmark at the half-year stage with a return of 14.4% against 16.4% for the All-Share index. Returns were held back by the private equity investments, which returned -1.4%. The first interim dividend is 2.9p. RDI REIT has secured a number of significant […]
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02 Apr 2019 1 min read
F&C agrees long-term fixed rate funding
F&C agrees long-term fixed rate funding – F&C Investment Trust has agreed to issue a number of fixed rate senior unsecured private placement notes: EUR42 million for seven years at a coupon of 0.93% GBP57m for 23 years at a coupon of 2.59% GBP37m for 30 years at a coupon of 2.69% GBP20m for 40 years […]
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12 Mar 2019 2 min read
Contrasting fortunes of F&C and Witan in 2018
F&C Investment Trust has reported an NAV total return of -3.3% for 2018, marginally better than its benchmark’s -3.4% return (it uses the All-World Index). Shareholders benefited from a narrowing discount, however and the trust delivered a share price total return of -0.6%. The annual dividend per share was up 5.8% to 11.0p, well above the 2.1% […]
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1 min read
F&C Investment Trust cautiously optimistic on 2019
F&C Investment Trust cautiously optimistic on 2019 – F&C Investment Trust (FCIT) has published its annual report for the year to 31 December 2018. Shareholder total returns were down 0.6% in what the fund described as “the most challenging year since the global finance crisis”, though they outperformed on a relative basis compared to the 3.4% […]
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27 Mar 2018 1 min read
QuotedData on F&C’s 150th birthday
QuotedData on F&C’s 150th birthday, plus our monthly roundup featured in DIY investor magazine. The granddaddy of the investment trust sector, Foreign & Colonial Investment Trust, is rapidly approaching its 150th birthday. It is a remarkable achievement for a company to remain relevant over such a long period. What, perhaps is even more remarkable is […]
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07 Mar 2018 2 min read
Foreign & Colonial will change name after 150 years
Foreign & Colonial will change name after 150 years – Foreign & Colonial, which is marking its 150th anniversary, has published results for the year ended 31 December 2017. The year was a good one for F&C’s shareholders. A share price total return of 21% and an NAV total return of 16.9% were both well ahead of […]
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07 Mar 2017 1 min read
Foreign & Colonial post strong returns but lags benchmark
Foreign & Colonial (FRCL) has announced its annual results for the year ended 31 December 2016. During a year that the Trust’s chairman describes as being extraordinary, in terms of political events, stock market returns and sterling weakness, FRCL has provided an NAV total return of 23.9% and a share price total return of 23.7%. […]
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29 Jul 2016 1 min read
Foreign and Colonial plans dividend increase in 2016
Foreign and Colonial’s 7.7% NAV return for the first six months of 2016 compared favourably to returns of its peers although it lagged the 12.0% rise in the FTSE All World Index over the period. Shareholder returns were 3.0% as uncertainty over Brexit led to a general widening in discounts across the sector, with the discount […]
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20 Apr 2016 1 min read
Foreign & Colonial takes on long-term debt
Foreign & Colonial Investment Trust has agreed to issue fixed rate senior unsecured private placement notes in tranches of (i) GBP25 million principal with a 12 year tenor, at a coupon of 2.80% and (ii) GBP50m principal with a 15 year tenor, at a coupon of 3.16%. The funding date for the notes is expected […]
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08 Mar 2016 2 min read
Foreign & Colonial planning new private equity investments
Foreign & Colonial has published its results for the year ended 31 December 2015. Their net asset value total return of 7.5% was above the 4.0% delivered by the FTSE All World Index over the year. FRCL delivered a total shareholder return of 9.0% for the year. The net asset value per share with debt at market […]
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30 Jul 2015 1 min read
Good equity performance from F&C in H1
Foreign & Colonial’s results for the first half of 2015 show it delivering a return on net assets of 4.1% and a return to shareholders of 4.0%. By contrast the FTSE All-World Index returned 2.2%. The first interim dividend of 2.3p for 2015 will be paid on 3 August. Second and third interim dividends of […]
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03 Mar 2015 1 min read
F&C mulling new long term debt
Foreign & Colonial had a good 2014 but returns were below those of the FTSE All World Index. The total return on net assets was 10.3%, comprising a 7.9% uplift in the NAV and a 9.3p dividend, up 3.3% on the previous year. The index returned 11.3%. The return to shareholders was 13.5%. Over the first […]
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02 Dec 2014 1 min read
The alternative plays in investment trusts
Source: http://www.moneymarketing.co.uk/news-and-analysis/analysis/the-alternative-plays-in-investment-trusts/2016533.article Income-seeking investors would do well to look at the alternative plays on offer in the investment companies space, such as renewable energy and asset leasing With interest rates held so low for so long, it is not surprising investors have been looking for alternative ways to generate income. That search is only set to […]
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19 Nov 2014 1 min read
Foreign & Colonial to redeem its debenture
FRCL : Foreign & Colonial to redeem its debenture Foreign & Colonial has £110m of debenture stock outstanding that was issued in 1989 and falls due for repayment on 31 December 2014. The Board have announced today that this will be redeemed at par on 31 December. This is good news for ordinary shareholders as […]
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30 Jul 2014 1 min read
Foreign & Colonial : FRCL – interims
Foreign & Colonial, which is now managed by Paul Niven (pictured) has released its interims. these cover the first half of 2014. Over that period the net asset value rose by 1.1% and the share price return was 0.8%. By comparison the benchmark return was 3.2%. The UK, North American, European and Emerging Market equity portfolios underperformed comparable […]
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04 Mar 2014 1 min read
Foreign & Colonial : FRCL – annual results
Foreign & Colonial Investment trust has released its results for the year ended 31 December 2013. In total return terms, the net asset value returned 21.4% vs. 21.0% for the FTSE All-World Index. At the same time F&C has announced that Jeremy Tigue is stepping down as manager of the fund at the end of […]
Upcoming Events
Videos
In The Press
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06 Aug 2024 1 min read
Investment trust insider on F&C Investment Trust
Investment trust insider on F&C Investment Trust – James Carthew: How F&C beats the Machine A broad growth portfolio spiced with private equity have helped F&C outperform global index-trackers. It is all too easy to get distracted by short-term moves when investing and it is good practice to step back and consider the big picture […]
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16 Jul 2024 1 min read
Is there a perfect number of stocks for a portfolio?
by Cherry Reynard from interactive investor, 15th July 2024: Running a concentrated portfolio of a small number of companies comes with the risk of a single-stock failure, which can derail a fund manager’s track record.. The vogue has been for managers to hold concentrated portfolios. Many have sought to emulate the Warren Buffett mantra – […]
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25 Apr 2024 1 min read
Fundsmith or Baillie Gifford: Which should you pick for small-cap exposure?
By Jean-Baptiste Andrieux, Reporter, Trustnet, 25 April 2024: Fundsmith Equity and Scottish Mortgage rank high on investors’ buy lists due to their impressive performance over the past decade. As a result, fans of the two global large-cap portfolios might also be interested in their small-cap siblings, Smithson and Edinburgh Worldwide. In theory, small-caps should outperform […]
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18 Apr 2024 1 min read
F&C vs Alliance Trust: which core global equity trust should you pick?
By Jean-Baptiste Andrieux, Reporter, Trustnet, 18 April 2024: F&C Investment Trust and Alliance Trust are among the largest investment trusts in the IT Global sector and have a long history dating back to the 19th century, making them popular choices as one-stop-shops for core exposure to global equities. Investors might have a hard time choosing […]
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11 Mar 2024 1 min read
Money Makers podcast: 11 March 2024
In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to James Carthew, director of QuotedData. You can listen to this week’s two podcasts in full here. Alternatively, you can subscribe and download it on most podcast channels including Soundcloud, Apple, Spotify, Stitcher and others.
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22 Jan 2024 1 min read
Investment trust insider on global trusts
Investment trust insider on global trusts – James Carthew: Global funds can learn from Alliance Trust’s success Our columnist says he is increasingly convinced Alliance Trust makes a ‘core’ holding for investors after its prgamatic multi-manager revamp seven years ago. Last week I discussed how 2023’s markets were dominated by a ‘magnificent seven’ of mega-cap […]
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01 Sep 2023 1 min read
How to analyse investment trust gearing in the era of rising interest rates
By Jean-Baptiste Andrieux, Reporter, Trustnet, 31 August 2023: The ability to borrow money is one of the weapon in an investment trust’s arsenal. In many cases, it has contributed towards the outperformance of investment trusts relative to their equivalent open-ended versions, as they take out money to invest, making higher returns each year above the […]
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27 Jun 2023 1 min read
Are ‘dividend hero’ investment trusts keeping up with inflation?
by Kyle Caldwell from interactive investor, 27 June 2023: Research for interactive investor examined whether 19 investment trusts have beaten inflation over the past five years in terms of dividend growth, share price and net asset value (NAV) returns. The minimum aim of every investor should be to ensure that over the long term the […]
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01 Jun 2023 1 min read
Investment trusts ditch their ‘inflation protection’ tag
By Val Cipriani, Investors’ Chronicle, June 1, 2023: Investment trusts are announcing below-inflation dividend increases, making it more difficult for investors to maintain the real value of their income – although some might be able to catch up in 2024 or 2025. Last week, core infrastructure trust HICL Infrastructure (HICL) said it intends to maintain […]
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10 May 2023 1 min read
The eight income investment trust heavyweights: how sustainable are the dividends?
by Jennifer Hill from interactive investor, 10 May 2023: Eight investment trusts have half a century or more of increasing payouts to investors but deeper analysis is required to ascertain their true income prowess, reports Jennifer Hill… But dividend growth alone does not make a trust the best home for income seekers’ capital. A deeper […]
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09 May 2023 1 min read
Investment trust boards: what do they do, and do they add value?
by Faith Glasgow from interactive investor, 9 May 2023: The recent widely publicised spat between members of Scottish Mortgage’s board of directors has once again focused attention on investment trust boards as a unique aspect of the closed-ended fund structure… Investment trusts are required to have independently elected boards of directors because they are structured […]
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28 Mar 2023 1 min read
Investment trust share buybacks: do they benefit private investors?
by Faith Glasgow from interactive investor, 28th March 2023: Share buybacks are used by investment trust boards to reduce the number of shares in circulation, as a mechanism for controlling the trust’s share price discount to net asset value (NAV)… But how far does that work in practice?.. A recent report by broker Numis notes […]
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27 Jan 2023 1 min read
Public/private valuation disconnect looks overdone
James Carthew for Investment Week, 24 January 2023: Within the investment companies sector, it has to be admitted that 2022 was a pretty poor year for funds investing in global equities. Only one, Brunner, managed to beat the MSCI AC World index, in NAV terms, although Lindsell Train, Alliance Trust and F&C all came close. […]
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14 Oct 2022 1 min read
Lindsell Train and Scottish Mortgage among the cheapest global trusts relative to their recent history
By Tom Aylott, Reporter, Trustnet, 13 October 2022: Global trusts were some of the biggest benefactors of the growth wave that dominated throughout the 2010s, loading up on US tech companies that soared. In the past five years alone, the IT Global Equity Income and IT Global sectors have delivered investors a total return of […]
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27 Sep 2022 1 min read
Which FTSE 100 investment trust should you hold?
Eve Maddock-Jones, Investment Week, 26 September 2022: For the first time in the history of the FTSE 100, the index features four investment trusts: Scottish Mortgage, 3i, Pershing Square Holdings and F&C… All four trusts can count themselves as heavyweights of the closed-ended space, for different reasons. While F&C holds heritage, IT Global peer Scottish […]
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26 Sep 2022 2 min read
Generalist investment trusts: life in the old dog yet?
By Dave Baxter, Investors’ Chronicle, September 23 2022: It’s testament to the sheer uncertainty of recent times that not a single UK investment trust has launched in the first eight months of 2022. That compares with 16 over the course of 2021 and six in an unpredictable 2020. Some analysts reckon it might even mark […]
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22 Jun 2022 1 min read
Battle of the big three multi-manager trusts: who comes out on top?
by Jennifer Hill from interactive investor, 22nd June 2022: Alliance Trust, F&C and Witan – three big investment trusts that give investors access to a range of managers in one fell swoop. But how do they differ, and which has given investors the most bang for their buck? Three global multi-manager investment trusts – Alliance […]
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23 May 2022 1 min read
Trusts that have reigned longer than the Queen
By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY, 21 May 2022: Any investment that has generated wealth since before the Coronation must have firm foundations. That is true for the 36 investment trusts that predate the Queen’s accession to the throne. They have survived the stock market crashes that peppered the early 1970s, October 1987 (Black […]
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16 Mar 2021 1 min read
Investment trust insider on dividend heroes
Investment trust insider on dividend heroes – James Carthew: ‘Dividend hero’ trusts do the right thing Some of the big beasts of the investment company sector have recently published results that cover the impact of Covid-19 on their finances. Among them are a number of ‘dividend hero’ investment trusts that have increased their dividend each […]
