Nick Train backs M&A-driven UK wealth sector for growth

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. 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% respectively. Finsbury's other wealth management holding, Rathbo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Autumn Budget 24: Labour pushes forwards with private school fees VAT

Autumn Budget 24: Labour pushes forwards with private school fees VAT

Change introduces 'new challenges' for families

Jen Frost
clock 30 October 2024 • 4 min read
Autumn Budget 24: Labour raises CGT lower and higher rates

Autumn Budget 24: Labour raises CGT lower and higher rates

CGT on residential property unchanged

Sorin-Andrei Dojan
clock 30 October 2024 • 2 min read
Autumn Budget 24: Labour hikes employers' National Insurance by 1.2 percentage points

Autumn Budget 24: Labour hikes employers' National Insurance by 1.2 percentage points

Threshold lowered to £5,000

Jen Frost
clock 30 October 2024 • 3 min read