Nick Train: Our returns have lagged as economic and investor confidence recovered

London Stock Exchange 30% drop hits returns

Finsbury Growth & Income Trust proved "defensive" in difficult circumstances but as the economy reopens some safe havens are underperforming, according to portfolio manager Nick Train.

The fund's outperformance last year was generated during a period when markets were weakest and concerns about the pandemic were high, with the UK strategy beginning to underperform right around the time of the vaccine announcements in Q4 2020 - a theme that has spilled over into 2021. Nick Train: 'Tactical opportunity' in unloved UK stocks "Simply stated, having held up during the worst of 2020, our returns have lagged as economic and investor confidence recovered," Train said. Train gives the performance of Unilever's share price, a key holding in the portfolio, as an example. In...