Bestinvest says
Foreign & Colonial Investment Trust provides a cheap way for investors to access a diversified portfolio of equities with a bias to the UK. Manager Jeremy Tigue has added value over his career, but we have higher conviction in other global equity funds.
This is the oldest investment trust and one of the largest, with an objective of long-term growth in capital and income from a diversified international portfolio of publicly listed equities, as well as some unlisted securities and private equity. The portfolio has a bias to the UK and differentiates itself from other international generalist trusts with a higher than normal weighting in emerging markets and through its private equity exposure. The named manager is responsible for overall portfolio management including asset allocation and gearing, but has no stock selection duties. Regional portfolios are largely delegated to individual managers within F&C, though the North American, Japanese and private equity portfolios are outsourced. The trust actively manages its currency exposure to boost performance and gearing (borrowing) can be employed.