UK fund manager Nick Train's Finsbury Growth & Income Trust delivered its best monthly performance since 2000, with net asset value rising nearly 13% in October against a 1.1% benchmark gain. The rebound was driven by holdings in Experian, Sage, Relx, London Stock Exchange Group, and Rightmove — companies once labeled "AI losers" that have now integrated their own AI tools successfully. Train described the period as "the nadir of the strategy" after five years of underperformance, including an 8% NAV drop last year while the FTSE All-Share rose 24%.
A continuation vote earlier this year saw 96% of shareholders retain him. Despite outflows, his long-term returns since 2000 stand at 685% versus 375% for the benchmark. Consumer stocks Unilever and Fevertree also contributed, each gaining about 10%.
Source: Financial Times Companies · Summarized by HeadlinesBriefing