F & C Investments

Foreign & Colonial Investment Trust

  • Strong track record of success

  • How to Invest

    Open an F&C Savings Plan

    Call: 0800 136 420

    Invest online now

    Or contact your usual investment broker

  • Performance

    These tables show you how the fund has performed over the last five years.  The fund has achieved positive growth over these periods, but please remember that past performance is not a guide to future results and the value of investments can go down as well as up.

    We've provided some useful definitions below the tables to help with interpreting the performance figures.

  • Fund performance

    Foreign & Colonial Investment Trust - performance chart

    Performance (%) as at 31.05.17

    Cumulative performance 1 month Year to date 1 Year 3 Years 5 Years
    NAV 2.85 8.22 31.91 56.81 113.06
    Share price 4.35 3.89 35.44 65.05 128.10
    Benchmark 2.49 6.47 33.33 54.80 114.76
    Discrete annual performance 2017/2016 2016/2015 2015/2014 2014/2013 2013/2012
    NAV 31.91 0.47 18.32 5.50 28.79
    Share price 35.44 -0.79 22.83 4.46 32.30
    Benchmark 33.33 -0.19 16.32 6.42 30.36

    Source: Lipper. Basis: share price, percentage growth, bid to bid, net income reinvested. Basis in accordance to the regulations of the Financial Conduct Authority. The discrete annual performance table refers to 12 month periods, ending at the date shown. The cumulative performance table refers to cumulative periods ending 31.05.17

  • Useful definitions

    NAV - Net Asset Value. This is the value of the fund's assets (e.g. investments, stocks, shares, bonds) less its liabilities (i.e. costs that need to be paid out of the value of the fund)
    Benchmark: The FTSE All-World (Total Return) Index


  • Fund facts
    Investment manager F&C Investment Business Limited
    Benchmark FTSE All World TR index (Pre 01/01/2013 60% FTSE World ex UK TR Index/40% FTSE All Share TR Index).
    AIC sector Global
    Launch date 1868
    Total assets £3.6 billion (as at 28.02.2017)
    Currency Sterling
    ISIN GB0003466074
    SEDOL 346607
    Ticker symbol FRCL
    Key dates
    Annual general meeting April
    Year end 31 December
    Dividends paid February, May, August, November (Quarterly)
    Results announced March (final)
    July (half yearly)
  • Fund Manager commentary

    We posted positive gains over the month with growth in our net asset value of 2.9% and, with a narrowing of our discount, a 4.3% rise in shareholder returns. May was another month of political drama with market speculation over US presidential impeachment and a decisive victory for Emmanuel Macron in the second round of the French presidential elections. In the UK, Theresa May saw her apparently unassailable lead in the run up to the general election dwindle and, late in the month, fears of early elections in Italy rattled markets there. As we go into June, the drama continues.  The UK general election saw the government lose its majority and, weakened and divided, it must now begin the difficult process of negotiating Brexit.

    Away from politics, European economic data remained strong, although this pattern is now so well established that it was less of a surprise to the markets. Economic data on the US were more mixed with recent inflation data releases below expectations. Less optimism on the growth outlook and a more sanguine view on inflation helped spur investors to allocate more capital towards ‘growth stocks’, with US technology stocks leading the way.

    Optimism over the economic outlook may have retraced some of the bullish sentiment seen in recent months but, in our view, the trend remains positive. Importantly for equity investors, corporate earnings are showing increased vigour, and this strength is helping to push global equity markets on to new record highs. The combination of low inflation levels, supported by improving earnings momentum along with a synchronised economic upturn is helping to fuel optimism on the corporate outlook. In addition, within equity markets, a growth strategy has returned to favour, with long duration technology stocks leading the way. Here, much is being made of the dominance of a small number of stocks leading markets ever upwards. Amazon’s brief break of the $1000 level for its stock and the recent twenty-year anniversary as a listed company has drawn wider attention to the extraordinary performance of a handful of such names. Comparisons with the late 1990s and the technology, media and telecoms bubble are being drawn. There is little doubt that valuations on a number of disruptors are rich but many of these companies have strongly established franchises and are now highly cash generative. There is already some discussion over the monopolistic tendencies of some of these businesses and, in due course, anti-trust action may become a more realistic prospect. Nonetheless, disruptors across a variety of industries are serving to depress pricing pressure in labour markets, containing inflationary pressures, and buoying corporate margins. As such, political instability and the rise of the anti-establishment movements are inextricably linked to deeper disruptive trends which seem likely to both fuel growth and popular discontentment for some time to come.

    We continue to invest in a range of diversified underlying stock selection strategies and believe that we remain well placed to withstand any further short term volatility in markets.

    As at 31 May 2017

  • The value of shares and the income from them is not guaranteed and can fall as well as rise due to stock market movements. Past performance is not a guide to future performance. When you sell your shares, you might get back less than you originally invested. If markets fall, gearing can magnify the negative impact on performance. Changes in rates of exchange may have an adverse effect on the value, price or income of investments. Emerging Markets, Unquoted Companies and Smaller companies carry a higher degree of risk and their value can be more sensitive to market movement; their shares may be less liquid and performance may be more volatile. The fund may invest in hedge funds or private equity funds which are not normally available to individual investors, exposing the fund to the performance, liquidity and valuation issues of these funds. Such funds typically have high minimum investment levels and may restrict or suspend redemptions or repayment to investors. The asset value of these shares and its prospects may be more difficult to assess.

  • Paul Niven

    Paul Niven

    Fund Manager

  • Investment Awards 2016 - winners logos_ForeignColonial           Morning Analyst Rating - silver logo          Rated fund logo 2017         AIC Dividend Logo

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.

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