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Finsbury Growth and Income

Closed-end funds and OEICs
Aminatidi
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Re: Finsbury Growth and Income

#417924

Postby Aminatidi » June 7th, 2021, 1:29 pm

Spet0789 wrote:Interesting charts, and absolutely correct to highlight the important of return per unit of risk.

But by that measure (taking for example the Calmar Ratio, Return / Maximum drawdown) some of the other funds have done a lot better than Fundsmith (MS Global Advantage for example).

So something like 70:30 of that fund and cash would have delivered higher returns than Fundsmith with lower volatility and drawdown.


Oh undoubtedly.

But I know I'm not keen on volatility and it's very easy to get FOMO or distracted at some of the massive returns witnessed without seeing the possible downside when the upside stops :)

monabri
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Re: Finsbury Growth and Income

#417927

Postby monabri » June 7th, 2021, 1:39 pm

Volatility - Maybe investing in an all world tracker such as Vanguard's VWRL would help minimising ones portfolio volatility.... as ballast (as some folk refer to it on HYP Practical) and at comparatively lower cost.

Image

Moderator Message:
Are these your own or 3rd party images? If using images from a 3rd party website which are copyright, you must post a link to the original source. See Rules Section 2 - third bullet point here https://lemonfool.co.uk/app.php/rules. Thanks Clariman

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Re: Finsbury Growth and Income

#417929

Postby simoan » June 7th, 2021, 1:46 pm

monabri wrote:There was plenty of volatility in FGT in March 20.

Everything was volatile in March. The point I'm making is that it was LESS volatile!! This isn't rocket science - you can't make a return without volatility. FGT has lower volatility, not no volatility.

Si

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Re: Finsbury Growth and Income

#417931

Postby Clariman » June 7th, 2021, 1:51 pm

monabri wrote:There was plenty of volatility in FGT in March 20.

Image


Monabri

Are these your own charts or do they come from a 3rd party source? Please confirm they are your own ASAP or provide a link to the original source. If not, they will be deleted. See site rules Section 2, third bullet point. Thanks

Aminatidi
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Re: Finsbury Growth and Income

#417934

Postby Aminatidi » June 7th, 2021, 2:07 pm

The images are from the Fundsmith AGM on Youtube.

monabri
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Re: Finsbury Growth and Income

#417946

Postby monabri » June 7th, 2021, 3:34 pm

Clariman wrote:
monabri wrote:There was plenty of volatility in FGT in March 20.

Monabri

Are these your own charts or do they come from a 3rd party source? Please confirm they are your own ASAP or provide a link to the original source. If not, they will be deleted. See site rules Section 2, third bullet point. Thanks



These graphs were produced using the comparator tool at Hargreaves Lansdowne, the link to the tool is

https://www.hl.co.uk/funds/fund-discoun ... ion/charts

I remembered to post this link in my first post above but inadvertently forgot to post the reference link again in the 2nd post.

Itsallaguess
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Re: Finsbury Growth and Income

#418296

Postby Itsallaguess » June 9th, 2021, 8:54 am

Edison have just released a review of Finsbury Growth and Income, and for those interested, the PDF can be downloaded using the following link -

https://www.edisongroup.com/wp-content/uploads/2021/06/Finsbury-Growth-Income-Trust-Sticking-to-the-successful-long-term-strategy-2.pdf

Some brief excerpts below -

Bullpoints -

  • Very strong long-term absolute and relative performance versus the broad UK market.
  • Disciplined strategy, with the manager investing with a very long-term perspective.
  • Progressive dividend policy.

Bearpoints -

  • Performance has lagged in recent months following a change in market leadership.
  • Highly concentrated portfolio means that a single company’s share price weakness can negatively affect the whole fund’s performance.
  • Key-man risk - the manager has built up FGT’s long-term record over more than 20 years

Cheers,

Itsallaguess

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Re: Finsbury Growth and Income

#418309

Postby Arborbridge » June 9th, 2021, 9:33 am

Wise words here, particularly (but not only) from Dod, IAAG and Simoan.

Whenever a Trust falters, or indeed does well, it's like Groundhog Day and the same hopes, fears, comparisons and opinions surface. I guarantee, whatever IT one thinks is the best since sliced bread can be made to look mediocre by some other go-faster IT over some particular period of time.

Hindsight is so good for those who guessed it right. Me? I'm happy in my state of just about acceptable mediocrity. Having started investing in 1986 just before that 1987 "do" I've seen a lot of angst and joy, and having experimented for years with different methods of spotting when to buy or sell to create an advantage, I can afford to be sanguine about all these things.
Leave all that to young minds who are still experimenting: some will come out well on top, others - like me - will settle into the mediocre bracket to a moderately comfortable retirement. I reckon that will do 8-)

Arb.

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Re: Finsbury Growth and Income

#418469

Postby Eboli » June 9th, 2021, 8:12 pm

The less short-term views of risking reward in this thread made me look back in my records. I acquired a decent stake in both Finsbury Growth and Income and Finsbury Worldwide Pharmaceutical in 1995 curiously at prices that were within 1p of each other. FGT I acquired at 114p and the other at 113p. I added to both over the years because at the time, both were available in one of the better low-cost regular monthly share investment trust schemes available at the time. FGT hovers now around £9 today whereas the other (which became WWH) is about £37. Do I wish I had held more WWH? Not a bit of it. The risks were vastly different and far higher with FWP or now WWH. I'm glad I held both over the time frame that I do (and I am quite content to leave both as part of my ISA - though I have rebalanced along the way to keep both at about 6% of the whole (12% in total). Sometimes volatile investment go the other way and you're glad you held the more stable less exciting to balance it out. Indeed, I suspect in a few years that FGT will prove to be a good replacement for certain constituents of Luni's Bo7 (which clearly needs to be replaced by a Bo7 [2021] or suck like) - it needs to yield a bit more first.

Eb


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