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 31.11.16

    Cumulative performance 1 month Year to date 1 Year 3 Years 5 Years
    NAV 5.02 23.09 26.02 46.95 100.28
    Share price 4.19 18.72 22.82 47.15 103.81
    Benchmark 4.68 27.16 29.96 47.42 97.96
    Discrete annual performance 2016/2015 2015/2014 2014/2013 2013/2012 2012/2011
    NAV 26.02 8.02 7.96 24.17 9.76
    Share price 22.82 10.29 8.63 24.96 10.84
    Benchmark 29.96 4.25 8.82 24.22 8.09

    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 31.11.16

  • 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 £3.5 billion (as at 31.10.2016)
    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

    Equity markets finished an extraordinary year on a positive tone and our NAV (net asset value) rose by 2.8% over the month (while the shareholder return was 4.9%). Foreign & Colonial ended the year at a record high NAV and price level with a discount of 7.4%. Our NAV returns in 2016 were the strongest for over a decade.

    In general terms, during December, markets continued to rally in the aftermath of Donald Trump´s surprise win in the presidential election. There was some improvement in performance from the defensive sectors, with virtually all segments of the US market generating positive returns over the month. At its December meeting, the Federal Reserve announced its sole interest rate hike of 2016 and forecast a further three rate increases for 2017. US economic data remained robust, with third-quarter US GDP growth revised upwards to 3.5% compared with the initial 2.9% estimate, marking the fastest quarterly growth in two years. Inflation reached 1.7% in November, the strongest annualised rate since 2014 as consumer prices rose for a fourth consecutive month.

    European equities posted strong gains and investor sentiment received a boost from the European Central Bank´s move in early December to extend its quantitative easing programme to the end of 2017, albeit with monthly asset purchases to be reduced from €80 billion to €60 billion. At the same time, European markets largely shrugged off the negative outcome of the Italian referendum on constitutional reform and subsequent resignation of Prime Minister Matteo Renzi. Italian banks, meanwhile, staged a strong rally in December as the country´s new government drew up plans to offer up to €20 billion of support for the ailing sector. At the country level, peripheral countries Italy and Spain were among the best performing markets.

    UK economic data continued its positive run, with the PMI gauge of services sector activity for November reaching its highest level for 10 months. UK third-quarter gross domestic product (GDP) was also revised upwards to 0.6% from the earlier 0.5% estimate. The UK markets continue to be obsessed with the hard versus soft Brexit debate. This is largely a phony war given that our key negotiating partners in Europe will not be able to deliver a proper response until after the German elections in the autumn, Italy has a new Prime Minister and France will have a new President in April. Indeed, there is every chance that no clear deal is struck within the two year limit after Prime minister May invokes Article 50 – which she has committed to do by the end of the first quarter 2017.

    Our gearing levels rose modestly in the latter part of 2016 as cash levels reduced. The outlook is better today than a year ago but markets have already factored in much of the improvement. That said, Trump, with pro-cyclical fiscal policy and with risks on global trade has increased the risks of both boom and bust in the years which to come. Recession is not a serious risk (yet) and animal spirits have yet to be unleashed suggesting that this year could, once again, provide scope for considerable surprises around a tightly bound consensus. We continue to run 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 December 2016

  • 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.

  • Share price

    543.50p1.50p

    24 January 2017

  • Paul Niven

    Paul Niven

    Fund Manager

  • Investment Awards 2016 - winners logos_ForeignColonial         C_bronze_mlogo_standard

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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