The F&C Investment Trust (FCIT) is as close to a household name as a fund can be. Founded in the 19th century, its global stocks “one-stop shop” nature has made it a favourite for investors for decades, and despite changing managers and fund houses, it’s remained true to its aim.
Val Cipriani sits down with current manager Paul Niven, who discusses the trust’s approach to using other fund managers, where he sees value in stock markets, the pros and cons of a concentrated portfolio and why, despite cutting back on US companies, he believes there’s still value to be found.
Timestamps
00:00 Intro
00:21 What is F&C
01:45 How the trust is structured
05:01 Use of 3rd party managers
7:31 Trying to beat the benchmark
10:02 Why F&C is so diversified
14:21 Reacting to the war in Iran
20:32 Is the market too optimistic?
22:46 Emerging markets
25:17 Trends away from the US
28:05 Magnificent seven
32:05 Nvidia
35:11 Private equity
42:15 Software exposure and AI disruption
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