F&C Managed Portfolio trust narrowly outperforms

F&C Managed Portfolio trust’s Income and Growth portfolios both beat the FTSE All-Share index in the year to May 31.

The net asset value total return per share was 34.2 per cent for the Income portfolio’s shares and 32.8 per cent for the Growth portfolio’s shares compared to the FTSE All-Share index’s return of 30.1 per cent.

The board of the trust said that stock selection was a driver of performance, along with tightening discounts and strong small and mid cap performance.

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Both the Income and Growth portfolios are made up of holdings in at least 25 investment trusts.