F & C Investments

F&C Capital and Income Investment Trust plc

  • An established generator of growth and income

  • How to Invest

    Open an F&C Savings Plan

    Call: 0800 136 420

    Invest online now

    Or contact your usual investment broker

  • Key Facts

    The manager looks to generate long-term capital and income growth from a portfolio consisting mainly of FTSE All-Share companies. The portfolio is biased heavily towards companies that are capable of paying a reliable and growing income to shareholders. Given this emphasis the fund manager focuses on attractively valued, well-established companies characterised by strong balance sheets and robust cash flow. We aim to grow the dividend consistently over time, dividends are paid at the end of each calendar quarter.

    Highlights

    • Dividends increased annually since launch in 1992, paid quarterly and grown significantly faster than inflation
    • Diversified portfolio focusing on well-established UK companies
    • Targets long-term capital and income growth.
  • Fund facts
    Investment manager F&C Management Limited
    Benchmark FTSE All-Share Index
    AIC sector UK Growth and Income
    Launch date 1992
    Total assets £297.8million (as at 30.12.2016)
    Currency Sterling
    ISIN GB0003463287
    SEDOL 346328
    Key dates
    Annual general meeting February
    Year end 30 September
    Dividends paid March, June, September, December (Quarterly)
    Results announced May (half yearly)
    November (final)
  • Fund manager commentary

    After a small setback in November when the FTSE All-Share Index recorded a loss of 1.6%, December saw better performance with the “Santa Rally” driving a positive return of 5.0%. Over calendar 2016, the FTSE All-Share generated a total return of +16.8%, which almost exactly mirrors the fall of 16.3% in the value of sterling against the US$ over the year.

    Highlighting how difficult forecasting is (at least difficult to be right), I suggest even if anyone had known with perfect foresight in December 2015 that the UK would vote to leave the EU and Trump would be the next US President, they would not have forecast such a strong stock market return.

    UK economic statistics continue to look fairly favourable with GDP for the third quarter being revised up from +0.5% to +0.6% as the business and financial sector were more active than previously estimated. Again, a far cry from predictions earlier in the year. Inflation did edge up a little as widely anticipated, but at 1.2% still remains below the official target level.

    The oil price was stronger during December as OPEC and non-OPEC members agreed to cut oil production in order to attack the persistent oversupply in the market and force the price up. The price of a barrel of Brent crude responded by increasing 8%, after a gain of more than 5% in November, and this helped the share prices of BP and Shell to rise 11%, making them amongst the strongest contributors to the Index. Although we have substantial investments in both these companies, their weightings are less in the portfolio than in the Index, so this was a negative feature for our relative performance.

    As at 31 December 2016

  • Julian Cane

    Julian Cane

    Fund manager

Past performance is not a guide to future results. The value of investments can go down as well as up.

The shares of the Company are listed on the London Stock Exchange. Information in this section of the website concerning the Company is directed solely at persons who are located in the UK. Nothing on this website is, or is intended to be, an offer, advice, or an invitation, to buy or sell any investments. Potential investors must read our full terms and conditions before proceeding further with any investment product referred to on this website. The information on this website may not be suitable for everyone, and retail investors unsure whether an investment product referenced on this website will meet their individual needs should seek advice before proceeding further with such product.

Top