Nick Train has managed Finsbury Growth & Income for 21 years and has handsomely beaten the UK market during that time with the trust's net assets growing from just under £100m to over £2bn, helped by lots of regular share issuance. As with other Lindsell Train funds, this trust holds a very concentrated portfolio of 'quality growth' shares that are seldom traded. However, 2021 was a difficult year for this style of investing and the discount at Finsbury Growth & Income has widened to 5%, its largest level for a decade, and its board has taken the rare step of buying back some shares. N...