• Capital and Income Investment Trust
  • The Trust looks to generate long-term capital and income growth from a portfolio consisting mainly of FTSE All-Share companies. The Trust is heavily biased towards companies that look 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. The Trust looks to grow its dividend consistently over time and dividends are paid at the end of each calendar quarter.
  • 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.

  • Share price

    310.25p-0.25p

      

Key facts

  • The F&C Capital and Income Investment Trust offers the best of both worlds; the potential for long-term capital growth and a regular, growing income.

    Highlights of the F&C Capital and Income Investment Trust:

    • 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 £334.6 million (as at 31.08.2017)
    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

    At a headline level, there was fairly little excitement from the UK equity market in July, with the FTSE All-Share Index rising by 1.2% to take it back within sight of the all-time high set at the end of May.

    The Bank of England revised down its growth forecast for the UK in 2017 from 1.9% to 1.7% and the Monetary Policy Committee (MPC) again decided to keep base rates on hold. There seems little immediate prospect of an interest rate increase as the MPC is likely to want to see how consumers respond to pressure on real wages as inflation remains higher than wage growth. It will also be keeping an eye on the progress of Brexit negotiations, but there seems little there to report on.

    We are well into the reporting season for half-year results. Despite the lacklustre economic backdrop, many companies have reported strong figures. Amongst them, and of particular relevance for our portfolio, are Intertek (a company that provides testing, inspection and certification services worldwide) and Diageo (a global branded drinks producer). Both of these companies have shown they are able to produce attractive levels of growth and also to improve their operating margins. Although by historic standards, the shares of both look fairly expensive, a combination of growth, attractive returns and low interest rates have helped the share prices to respond positively.

    There have also been disappointments, most notably a profit warning from Carillion (not owned in the portfolio), where yet again the contracting industry has tripped up, and AstraZeneca, where the results of the Mystic drug trials were poor. Drug trials are, of course, an integral part of the scientific process, and although disappointing, there are many more drugs still in the pipeline.

    As at 31 July 2017

  • 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.

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