Nick Train: Fever-Tree was my 'biggest embarrassment' in 2022

Cazoo was 'mortifying'

Premium drinks mixer Fever-Tree was the “biggest disappointment” and “biggest embarrassment” for Nick Train last year, as his Finsbury Growth & Income trust underperformed the FTSE All Share benchmark for the second consecutive year.

Addressing shareholders at the trust's Annual General Meeting yesterday (17 January) Train thanked them, and the board, for their patience in the last couple of years. The trust's share price currently sits around 10% below its all-time high set in 2019, something Train said he was "hugely aware of". In 2022 the trust lost 6%, according to FE fundinfo data, whereas the benchmark stayed in the black at 0.3% returns. The average IT UK Equity Income listed trust lost 4.3% during that period. Train expressed his own frustrations at this performance, stating that it was "not satisfac...