At first glance, Finsbury Growth & Income Trustis an odd one. It is managed by Lindsell Train, a boutique fund manager with just one other trust to its name. Figit, to its friends, is dominated by chunky stakes in large companies with more than 70 per cent of its portfolio accounted for by the top ten investments.
They are in blue-chip stocks such as Diageo, Unilever and Relx. There is very little buying and selling, on average less than 5 per cent a year is traded in or out of the portfolio, a remarkably low figure for an investment trust.
Investors are entitled to ask why they should pay a fund manager to look after such a portfolio when they could presumably create one from