Happy to be relegated

If the F&C Investment Trust was a football club it could conceivably be likened to the team that has its investment managers name—F&C Investments—across the shirt, Birmingham.

Like Birmingham yo-yoing between the Championship and the Premier League, it seems the global growth investment trust cannot stop swapping its FTSE 100 status to FTSE 250.

However, unlike the football team, the trust’s most recent relegation yesterday to the FTSE 250 was a move welcomed by its manager.

Jeremy Tigue said he was “delighted” the trust has moved to the FTSE 250, because it has happened as a result of huge advances in the share prices of many of the kinds of companies he invests in. He said in a statement: “I would far rather be outside the FTSE 100 when it is at 4900 than inside it at 3500.”