Finsbury Growth and Income Trust celebrates 100 Years at the London Stock Exchange

Today, Finsbury Growth & Income Trust PLC (“Finsbury” or the “Company”) proudly marks its centenary with a market closing ceremony at The London Stock Exchange, celebrating a century of disciplined investment and long-term value creation for shareholders.

The team celebrating on the balcony at LSEG during the welcome ceremony.

Since its founding in 1926, the Company has navigated global economic cycles, market upheavals, and periods of profound change. Over the decades, Finsbury has evolved from its origins as the Scottish Cities Investment Trust into one of the UK’s most respected investment trusts, now firmly established in the FTSE 250 Index.

Under the stewardship of Lindsell Train Limited since 2000, the Trust has embraced a distinctive investment philosophy, prioritising companies with durable franchises, strong cash generation, and the ability to compound returns over time. This approach has delivered exceptional long-term performance and consistent dividend growth, reinforcing Finsbury’s reputation for resilience and reliability.

The centenary ceremony was attended by the Chairman, Board members, the Investment Management team from Lindsell Train, Frostrow Capital representatives, Shareholders, advisors and invited guests.

“This milestone is a testament to the enduring strength of our investment principles and the confidence placed in us by generations of shareholders. Over 100 years, we have remained steadfast in our commitment to quality, discipline, and long-term thinking. As we look ahead, our focus remains unchanged: to deliver sustainable returns and income for our investors.”

Pars Purewal
Chairman

“Our philosophy has always been simple: invest in exceptional businesses and hold them for the long term. That approach has served our shareholders well, and we believe it will continue to do so in the decades ahead.”

Nick Train
Portfolio Manager

Find out more about Finsbury Growth & Income Trust PLC and its investment strategy.

100 years investing in the future

Finsbury Growth & Income Trust PLC was incorporated in Scotland as Scottish Cities Investment Trust Limited on 15 January 1926. To celebrate the centenary celebration the company has produced a booklet outlining its rich and illustrious history.

FGT Centenary Booklet
PDF - 7.1MB

Discover the Trust’s Historical Story:

[FG&IT - 100 YEARS INVESTING IN THE FUTURE]In nineteen twenty six, four Scots,a lawyer and an accountant from Edinburgh,and a stockbroker and an industrialist from Dundee,came together to form the Scottish Cities Investment Trust,One of the first new investment trusts to launch since beforethe First World War, it gave ordinary investors anopportunity to share in economic recovery afterdifficult times.Their guiding idea was simple but enduring,to spread investments across sectors,regions and asset classes to deliver a better return thanavailable from the bank while maintaining the safety ofshareholders' capital.Thoseprinciples of balance and diversification would serve theTrust well through the decades that followed.Within three years came the Wall Street crash,followed by the Great Depression of the early 1930s.As conditions worsened, the board took difficult butdecisive steps to protect the company suspendingdividends, halving the payments on preference shares,cutting their own pay and gradually paying down debt.Those measures helped the trust withstand one of the toughestperiods in modern history.Then came war and once again the trust endured.With financial markets in a state of torpor,valuing the portfolio became difficult,but preference shareholders continued to receive theirincome even as air raids reached Edinburgh and Dundee.By nineteen forty five, the company had endured crash,depression and war, still standing and ready to rebuild.The nineteen fifty three AGM became one of the mosteventful in investment trust history when Lord Ray andWalter Salomon of London Bankers Ray Brothers swept intoEdinburgh and seized control.Under their leadership, the Trust entered a long period of expansion.Assets and dividends rose through the 1950s and early60s reflecting the postwar recovery and steady management.Then came new challenges, complex new tax rules,inflation and the bear market of the early 1970s.Between nineteen sixty nine and nineteen seventy four,the Trust's value more than halved,only to rebound sharply the following year.For investors who stayed the course,Patience was well rewarded.The 1980s brought deregulation and risingmarkets and the Finsbury name appeared for the first timein nineteen eighty five under Sir Walter Salomon who hadguided the trust for more than thirty years.As the last bull market of the twentieth century gatheredpace, assets rose to new highs.Throughout the 1990s, the Board maintained the tradition ofstrong governance and long term vision that had carriedthe trust successfully through every cycle.In nineteen ninety nine Ray Brothers was bought by CloseBrothers and against the backdrop of the dot com boomand bust, Finsbury appointed Linsell Train as itsinvestment adviser in December two thousand.Their philosophy was clear, to invest in a handful ofexceptional businesses with enduring brands,loyal customers and strong balance sheets,and to hold them for the long term so that compounding could do its work.The new century has brought its share of tests.The dot com collapse, the global financial crisis,and most recently, the pandemic.Through them all, Finsbury's disciplined approachhas more than proved its worth.From two thousand onwards,shareholders have seen their investment multiply many timesover, a reflection of selectivity,consistency and conviction.Nick Train's philosophy to buy great businesses and hold themmay seem unusual in an increasingly short term world,yet it echoes the mindset of the Trust's founders a century ago.It is traditional in spirit,but timeless in relevance.Now entering its second century,Finsbury Growth and Income continues to invest with care,conviction, selectivity and integrity.Backing the world class companies whose brands andbalance sheets can withstand the tests of time.A hundred years on, the Trust's purpose is clear:to think long term, act with discipline and let a focusedportfolio of the highest quality businesses createlasting value for shareholders.[FG&IT - 100 YEARS INVESTING IN THE FUTURE]

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