F&C Investment Trust PLC (FLIVF) Q4 2025 Earnings Call Transcript

Operator

Good morning, ladies and gentlemen, and welcome to the F&C Investment Trust PLC Shareholder Update. [Operator Instructions] Given the attendance on today’s call, the company may not be in a position to answer every question received. However, the company can review all questions submitted and publish responses where it’s appropriate to do so.

Before we begin, we’d like to submit the following poll, and I’m sure the company will be most grateful for your participation. I’d now like to hand over to Fund Manager, Paul Niven. Paul, good morning.

Paul Niven
Head of Multi-Asset Investments & Fund Manager of Foreign and Colonial Investment

Okay. Good morning, everyone, and thank you very much for your attendance. We’ve got quite a large number of shareholders on the line and I think some potential shareholders as well. What I propose to do is run through an overview of the trust. I’ll keep that relatively brief because I think most of you will be familiar with our approach, but I’ll give an update on that. Then I’ll talk about the market perspective, the broad macro landscape, some of the issues that we are thinking about, some of the decisions that we are making, and then we’ll get into Q&A. So there’s quite a lot of content to get through. So I’ll move through reasonably quickly, but hopefully, we have plenty of time at the end to address your questions.

So just briefly, I think, as I said, many of you will be very familiar with the Trust. We’ve got a very long history, very consistent management approach and