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

    The value of your investments can go down as well as up, and you may not get back what you originally invested.

  • Key Information Document (KID)

    ISIN Trust name Currency English
    GB0003463287 F&C Capital & Income Investment Trust PLC GBP KID  

    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 Investment Business Limited
    Benchmark FTSE All-Share Index
    AIC sector UK Growth and Income
    Launch date 1992
    Total assets £350.4 million (as at 30.04.2018)
    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

    April was a strong month for the UK equity market, with the FTSE 100 Index increasing by 6.4%, ahead of the FTSE Mid-250 (+4.4%), while the Small Cap Index gained 6.6%.

    However, macroeconomic events weren’t particularly helpful for equities: the US and China engaged in a series of trade-tariff threats, while international relations with Russia worsened significantly. The oil price continued to rise, heading towards US$70, as did bond yields, with the yield on 10-year US Treasuries reaching the symbolically important level of 3.0%.

    The latest data in the UK showed unemployment falling to 4.2%, the lowest level for 43 years, and inflation (as measured by the consumer price index) falling further – from 3.0% in January to 2.7% in February, and now 2.5%. This latter figure took some of the pressure off the Bank of England’s Monetary Policy Committee to raise interest rates, and therefore was supportive for equities.

    The trend for company mergers continued, with supermarkets Sainsbury’s and Asda announcing a proposed combination to rival Tesco’s dominance. Historically, two of the market’s major grocers would not have been allowed to merge. But with Tesco’s takeover of Booker being waived through by the Competition and Markets Authority, as well as the encroachment of the internet, a different set of rules seems to be emerging. We don’t hold investments in either Sainsbury’s or Tesco, as we judge food retail to be a competitive area where returns are not particularly attractive, growth is very limited and shopping patterns are at risk of major change.

    As at 30 April 2018

  • Julian Cane

    Julian Cane

    Fund manager

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, and the relevant Key Information Documents (KID), 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.

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