Show Notes
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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