Call: 0800 136 420†
Or contact your usual investment broker
Over the month, the Company’s net asset value total return was -1.3% and this compares with the return from the FTSE All-Share 5% Capped Index of -0.2%.
During the final quarter of 2016, there was a substantial reduction in assets allocated to the higher yield portfolio in light of the low level of yields available on corporate bonds, particularly on higher quality, investment grade corporate bonds. As at the end of January corporate bonds accounted for just 2.2% of the Company’s total assets. With global economic growth expectations improving and inflation expectations rising we expect to see upwards pressure on both government bond yields and to a lesser extent investment grade credit yields. The proceeds raised from the reduction in the Company’s corporate bond exposure was reinvested across a wide range of existing holdings in the equities portfolio.
The UK market has benefitted significantly from the effect of the devaluation of sterling on its predominantly international earnings base following last year’s EU referendum in the UK. In the US, markets have been buoyed by the general improvement in the macroeconomic backdrop and the expansionary pro-business rhetoric from the new US administration.
On 31 January 2017, the Company announced that it has changed its name to F&C UK High Income Trust plc with immediate effect. The Company’s shares began trading under the new name on the London Stock Exchange from 08.00 a.m. London time on 1 February 2017. The Company’s trading instrument display mnemonic (TIDM) will change to FHI for the A shares, FHIB for the B shares and FHIU for Units. The ISIN and SEDOL numbers will remain unchanged.
The Company’s website address will be amended to reflect the change of name and will be available at www.fandcukhit.co.uk from 1 February 2017.
Shareholders are unaffected by the change of name and existing share certificates should be retained and will remain valid. Any new share certificates issued will bear the name F&C UK High Income Trust plc.
As at 31 January 2017
The Company is an investment trust and therefore its shares are not subject to the Financial Conduct Authority's rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes which came into effect on 1 January 2014. The Company conducts its affairs so that its shares can be recommended by Financial Advisers to ordinary retail investors in accordance with the Financial Conduct Authority's rules relating to non-mainstream investment products and intends to continue to do so.
Share price (A Shares)
Share price (B Shares)
Share price (Units)
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.
© Copyright F&C Management.
†Lines open 8.30am
to provide you with a better experience. By continuing to use this website you
are agreeing to our cookies
policy, which includes details on how you can amend your preferences. This
website is operated by F&C Management Limited, which is authorised and
regulated by the Financial Conduct Authority and registered in England and
Wales (Company No. 517895). Registered office: Exchange House, Primrose
Street, London EC2A 2NY. F&C Management Limited is a member of the
F&C Group. The F&C Group is wholly owned by BMO Global Asset
Management (Europe) Limited, which is itself a wholly owned subsidiary of the
Bank of Montreal.