F&C Managed Portfolio Trust (FMPT) has a differentiated structure comprising two listed portfolios: income (FMPI) and growth (FMPG). The trust is celebrating its 10th anniversary, and both portfolios have outperformed the benchmark FTSE All-Share index over three and 10 years, while FMPG has also outperformed over one and five years. Any income generated by FMPG is transferred to FMPI in exchange for an equal amount of capital, boosting their respective capital growth and income prospects. FMPI and FMPG have recently changed their Association of Investment Companies (AIC) classifications from the Global Equity Income and Global sectors respectively, to the Flexible Investment sector, which the manager says is a more relevant peer group. FMPI has grown its annual dividend regularly since 2012 and is currently yielding 4.0%.
