Interim Management Statement

FINSBURY GROWTH & INCOME TRUST PLC                       

  Interim Management Statement - three months to 31 December 2013 (unaudited)  

Finsbury Growth & Income Trust PLC invests principally in the securities of UK 
listed companies with the objective of achieving capital and income growth and
providing a total return in excess of that of the FTSE All-Share Index. A
maximum of 20% of the Company's portfolio, at the time of acquisition, can be
invested in quoted companies worldwide.

In the 3 month period ended 31 December 2013 the Company's net asset value
total return was 10.0% and the share price total return was 9.4%. These results
compare to the total return from the FTSE All-Share Index, the Company's
benchmark, of 5.5% over the same period. Post period end, to 28 January 2014
the Company's net asset value total return was -1.1% and the share price total
return was -1.0%. The total return from the benchmark index was -2.3%.

The Company paid a second interim dividend of 5.7p per share (second interim
dividend 2012: 5.2p per share) on 8 November 2013 in respect the year ended 30
September 2013.

During the 3 month period the Company issued 4,190,000 new shares at a premium
to the higher of the Company's ex or cum income net asset value per share
prevailing at the time of their issue raising £20.5 million. Following the
period end, to 28 January 2014, the Company has issued a further 1,325,000 new
shares at a premium to the higher of the Company's ex or cum income net asset
value per share prevailing at the time of their issue raising a further £6.9
million. As at 28 January 2014 the Company had 88,651,557 shares in issue.

Trust Characteristics

                                  31 December 2013    30 September 2013        
                                                                               
Number of holdings                25                  25                       
                                                                               
Net assets (£m)                   447.6               395.8                    
                                                                               
Net yield                         2.0%                2.1%                     
                                                                               
Gearing (AIC basis)               5%                  4%                       
                                                                               
Share price (p)                   517.50              479.0                    
                                                                               
NAV (p) per share                 510.98              468.90                   
                                                                               
Premium of share price to NAV per 1.3%                2.2%                     
share                                                                          

Source: Frostrow Capital LLP


Sector Analysis

                                  % of                 % of                    
                                  investment portfolio investment portfolio    
                                  at 31 December 2013  at 30 September 2013    
                                                                               
Financials                        21.1                 20.8                    
                                                                               
Consumer Services                 31.1                 30.4                    
                                                                               
Consumer Goods                    37.6                 39.7                    
                                                                               
Technology                        10.2                 9.1                     
                                                                               
Preference Shares                 -                    -                       
                                                                               
Total                             100.0                100.0                   

Source: Frostrow Capital LLP


Portfolio % of Investment Portfolio at 31 December 2013

Name                                 % of investment portfolio       
                                                                     
Diageo                               8.6                             
                                                                     
Unilever                             8.5                             
                                                                     
Pearson                              7.8                             
                                                                     
Heineken**                           6.5                             
                                                                     
Daily Mail & General Trust           6.1                             
                                                                     
Reed Elsevier                        5.7                             
                                                                     
Schroders                            5.6                             
                                                                     
London Stock Exchange                5.5                             
                                                                     
Fidessa                              5.3                             
                                                                     
A.G. Barr                            5.3                             
                                                                     
Top 10 Investments                   64.9                            
                                                                     
Hargreaves Lansdown                  5.0                             
                                                                     
Sage Group                           4.9                             
                                                                     
Rathbone Brothers                    4.1                             
                                                                     
Greene King                          3.5                             
                                                                     
Burberry Group                       2.8                             
                                                                     
Euromoney Institutional Investor     2.7                             
                                                                     
Mondelez Int^                        2.4                             
                                                                     
Dr Pepper Snapple^                   2.0                             
                                                                     
Thomson Reuters~                     2.0                             
                                                                     
Young & Co's Brewery (non-voting)    1.6                             
                                                                     
Top 20 Investments                   95.9                            
                                                                     
Kraft Foods Group^                   1.5                             
                                                                     
Fuller Smith & Turner                1.4                             
                                                                     
The Lindsell Train Investment Trust  0.7                             
                                                                     
Celtic                               0.4                             
                                                                     
Frostrow Capital LLP+                0.1                             
                                                                     
Celtic 6% (cum conv preference)*     -                               
                                                                     
Celtic conv preferred 4%             -                               
                                                                     
Total Investments                    100.0                           

Source: Frostrow Capital LLP

** Listed in the Netherlands
^ Listed in the United States
~ Listed in Canada
* Non-Equity - Preference Shares
+ Unquoted Partnership Interest


Portfolio % of Investment Portfolio at 30 September 2013

Name                                 % of investment portfolio       
                                                                     
Diageo                               9.0                             
                                                                     
Unilever                             8.9                             
                                                                     
Pearson                              8.1                             
                                                                     
Heineken**                           7.4                             
                                                                     
Schroders                            6.1                             
                                                                     
A.G. Barr                            5.6                             
                                                                     
Reed Elsevier                        5.4                             
                                                                     
London Stock Exchange                5.3                             
                                                                     
Daily Mail & General Trust           5.1                             
                                                                     
Fidessa                              5.1                             
                                                                     
Top 10 Investments                   66.0                            
                                                                     
Rathbone Brothers                    4.4                             
                                                                     
Hargreaves Lansdown                  4.0                             
                                                                     
Sage Group                           4.0                             
                                                                     
Greene King                          3.6                             
                                                                     
Burberry Group                       3.0                             
                                                                     
Euromoney Institutional Investor     2.6                             
                                                                     
Mondelez Int^                        2.4                             
                                                                     
Thomson Reuters~                     2.1                             
                                                                     
Dr Pepper Snapple^                   2.0                             
                                                                     
Young & Co's Brewery                 1.6                             
                                                                     
Top 20 Investments                   95.7                            
                                                                     
Fuller Smith & Turner                1.5                             
                                                                     
Kraft Foods^                         1.5                             
                                                                     
The Lindsell Train Investment Trust  0.8                             
                                                                     
Celtic                               0.3                             
                                                                     
Frostrow Capital LLP+                0.2                             
                                                                     
Celtic 6% (cum conv preference)*     -                               
                                                                     
Total Investments                    100.0                           

Source: Frostrow Capital LLP

** Listed in the Netherlands
^ Listed in the United States
~ Listed in Canada
* Non-Equity - Preference Shares
+ Unquoted Partnership Interest


Total Return Performance % (to 31 December 2013)

                   3 Months        Calendar         1 Year          3 Years    
                                 Year to date                                  
                                                                               
Share Price           9.4            35.1            35.1            76.3      
                                                                               
NAV per share        10.0            35.1            35.1            73.2      
                                                                               
Benchmark*            5.5            20.8            20.8            31.0      

Source: Morningstar

* Benchmark - FTSE All-Share Index measured on a total return basis. Index
Source: FTSE International Limited ("FTSE") © FTSE 2013

Past performance is not a guide to future performance.

This Interim Management Statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.

This Interim Management Statement is available on the Company's website 
www.finsburygt.com.

The Company's Net Asset Value per share is announced daily and is available,
together with the share price, on the TrustNet website at www.trustnet.com

SEDOL Code:
Ordinary Shares - 0781606
ISIN - Ordinary Shares GB0007816068
Bloomberg - FGT LN
Epic - FGT

For further information contact:

Victoria Streater on 0203 170 8732
Frostrow Capital LLP
Company Secretary

30 January 2014