Nick Train buys more Diageo despite profit warning hit to Finsbury Growth & Income

Portfolio holding of 10.4%

A profit warning by drinks maker Diageo was “a major drag on performance” for the Finsbury Growth & Income trust in November, but manager Nick Train has said he is buying more of the stock.

According to the November factsheet, the trust's net asset value rose 3.4% on a total return basis for the month, and the share price was up 1.5%, while the FTSE All-Share index was up 3%. Performance would have been better, Train said, had it not been for a profit warning on 10 November from Diageo, which caused an 11% fall in its share price. Finsbury Growth & Income Trust holds 10.4% of its portfolio in the drinks maker. Finsbury Growth & Income performance 'concerning' as trust lags benchmark for third consecutive year Diageo said its Latin American business, which constitutes ...