From Morningstar:

Nick Train, the manager of Finsbury Growth & Income trust, discusses his investment strategy, focusing on concentrated portfolios of wealth-creating businesses. He acknowledges underperforming in the past 3 years, attributing this to lack of investment in the oil sector and not enough exposure to technology and software companies, which he aims to improve in the next three years.

Train highlights the importance of technology, digital software, and AI in driving investment returns. He emphasizes the presence of globally significant London-listed UK companies with strong digital franchises, such as RELX and London Stock Exchange Group, which have AI products and proprietary data sets.

Over 50% of the Finsbury Growth & Income Trust’s portfolio is invested in companies with existing artificial intelligence products and proprietary data, including RELX, London Stock Exchange Group, and Experian. Train discusses the potential impact of these companies on creating value for shareholders.

Train explains that despite enticing trends, they remain focused on participating in multi-decade industrial themes and are long-term holders of companies like Diageo, emphasizing the underlying strength and prospects of their business.

In conclusion, Train discusses how the trust had to overlook a few opportunities, such as investing in the oil sector and not enough exposure to technology and software companies. He emphasizes the importance of staying focused on long-term industrial themes and holds companies like Diageo for their strong business prospects.



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