Nick Train backs M&A-driven UK wealth sector for growth and to bolster FGT

Wealth management is a long-term portfolio theme for FGT

Mike Sheen
clock • 2 min read

Nick Train has backed the UK wealth management sector to grow substantially amid the ongoing wave of industry M&A activity, and expects listed managers held within his £2bn Finsbury Growth & Income trust to benefit from the trend.

Updating investors on Finsbury's progress in the company's June factsheet, published today (16 July), Train identified "big growth and consolidation opportunities", which are set to bolster its long-term portfolio theme of wealth management. Litigation settlement drives AssetCo's M&A strategy The trust counts Schroders and Hargreaves Lansdown in its top ten holdings, with the pair accounting for 7.9% and 5.3% of the portfolio respectively, as of 30 June. Train noted that the two firms had "underperformed" in the second quarter of 2021, with HL and Schroders up 3% and 0.4% respe...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Equities

Event Voice: Artemis' Cormac Weldon on the US

Event Voice: Artemis' Cormac Weldon on the US

Cormac Weldon looks into US markets.

Cormac Weldon, Head of US equities, Artemis Fund Managers
clock 18 November 2024 • 5 min read
Autumn Budget 24: Chancellor Reeves sets 20% IHT rate on AIM shares

Autumn Budget 24: Chancellor Reeves sets 20% IHT rate on AIM shares

Inheritance tax reform

Cristian Angeloni
clock 30 October 2024 • 1 min read
Partner Insight: Why investors shouldn't try to second-guess election results

Partner Insight: Why investors shouldn't try to second-guess election results

Investment Week
clock 28 October 2024 • 1 min read
Trustpilot