Investment Trusts  

F&C trust beats benchmark as it turns 150

F&C trust beats benchmark as it turns 150

Foreign & Colonial, the UK's oldest investment trust, announced a 21 per cent shareholder return for 2017 and that it would rebrand as just F&C Investment Trust.

Chairman Simon Fraser said more people needed to understand the benefits of saving and investing for the long term.

Mr Fraser said: "There is now a much greater need for individuals to take control of their future financial wellbeing.

"State and private pensions will simply not be able to provide a comfortable retirement. The fact that life-expectancy is so much longer, combined with the rapid rise in the cost of care in old age means that people will have to plan their savings for their future requirements much more carefully.

"Consequently, we will be focusing considerable effort during our anniversary year on supporting broader financial education across schools and universities.

"More than ever before the financial services industry needs to create simple to use, transparent investment products that help everybody in our society invest for the long term and secure their financial future."

The trust's return exceeded a market benchmark of 13.8 per cent, while NAV total return was 16.9 per cent and dividends were up 5.6 per cent to 10.4p, the 47th consecutive annual increase.

F&C's trust celebrates its 150th anniversary this year.

Originally set up as a way to allow those of moderate means to invest, the trust has diversified from an investor in 'Foreign & Colonial' bonds, to being an investor in equities.

It is now managed by BMO, but in common with all investment trusts has its own independent board of director. .

This year the group said portfolios benefitted from the outperformance of Europe, Japan and Emerging markets.