F&C Investment Trust (FCIT) AGM 2026 summary

Opening remarks and agenda

• Presentation began with an overview of interim results and performance drivers, followed by discussion of market outlook, opportunities, and risks.

Financial performance review

• Shareholder return for the first half was 12.8%, slightly ahead of the benchmark and NAV return of 12.4%.

• Net revenue return per share increased by 8.4%; ongoing charges remained flat at 0.45%.

• Exceptional individual stock returns, notably in semiconductors and AI-related names, drove performance.

• Private equity holdings returned 9%, lagging listed equities but still positive.

• Portfolio allocations shifted, with reduced U.S. exposure and increased emerging markets and global focus.

Dividend announcements

• Interim dividend announced at GBP 0.99 per share; board committed to a 56th consecutive annual rise in 2026.

• Revenue reserves remain high, supporting future dividend growth.