Finsbury Growth & Income bolsters Experian holding amid higher for longer concerns

October 'cruel month' for markets

The £1.7bn Finsbury Growth & Income trust has added to its holding in Experian, following a sharp sell-off of its shares over concerns that interest rates will remain higher for longer.

In October, the trust reported a 3.6% drop in net asset value and a 4.4% decline in its share price, compared to an index drop of 4.1%, according to the latest factsheet. Manager Nick Train said October can be a "cruel month for stock markets", after very few stocks in portfolio escaped a "clattering". He said the impact of higher energy costs had combined with concerns that interest rates would remain higher for longer, creating some additional headwinds to the consumer facing parts of the trust. Higher for longer: The hope for equities lies in selection Experian, which is now ...