In 2025, Finsbury Growth and Income trust fell 7.6% while its benchmark, the FTSE All-Share, rose 24%. Manager Nick Train faces a crucial investor vote after underperforming for the fifth consecutive year. Shareholders will decide the fate of the trust at the annual general meeting on Jan. 15 in London.

Investors in the Finsbury Growth and Income trust will vote on whether to continue with the current investment philosophy that has been in place for 25 years. The fund saw its net asset value per share drop 7.6% in 2025, while the benchmark rose by 24%. The trust’s performance has been overshadowed by a multi-year period of underperformance.

Morningstar downgraded the trust’s rating to Bronze in 2024 due to recent underwhelming performance. Nick Train has maintained conviction in his investment strategy despite the challenges. He has apologized for the poor performance but has no immediate plans to change the portfolio. The trust holds 20 companies and trades at a 5.4% discount to its NAV.

Investors are faced with a decision on whether to sell or vote against the motion for the Finsbury Growth and Income trust. FundCalibre’s Chris Salih emphasizes the importance of understanding Nick Train’s consistent approach and the potential for a turnaround in performance. Patience may be key in weathering the current challenges the trust faces.

The continuation vote for the Finsbury Growth and Income trust will determine the future direction of the trust. Chairman Pars Purewal urges investors to support the current manager, while the trust’s founders will abstain from voting. The outcome will be announced after the AGM. Investors are advised to carefully consider their decision in light of the trust’s recent performance.

Read more at Morningstar: Nick Train Faces Survival Vote After 5 Years of Underperformance