Finsbury posts 24% return

Finsbury Growth & Income Trust has reported a net asset value total return of 24% compared with 10.8% from the benchmark FTSE All-Share index.

The results for the year to September 30 show dividends per share, paid in two instalments, remained static at 9.5p while net asset value per share rose 15.5% to 249p. Chairman Anthony Townsend says the trust performed well on the back of buoyant market conditions while outperformance came principally from major holdings in A.G. Barr, Cadbury, Fidessa, Unilever and Pearson. Townsend adds while the recovery in markets has been welcome, the outlook remains difficult to gauge. "The UK economy continues to have an uncertain feel about it and unemployment is expected to continue to rise...