Seneca Global Income & Growth PLC Edison review on Seneca Global Income & Grwth Trst
June 15 2016 - 3:58AM
RNS Non-Regulatory
TIDMSIGT
Seneca Global Income & Growth PLC
15 June 2016
London, UK, 15 June 2016
Edison issues research review on Seneca Global Income &
Growth Trust
Seneca Global Income & Growth Trust (SIGT) is an actively
managed, multi-asset global income fund. Investments are made in
equities (strategic asset allocation of 60%), fixed income (15%)
and specialist assets (25%) with the manager taking a long-term
perspective. Since the investment mandate change in January 2012,
SIGT's NAV total return has significantly outperformed its
benchmark three-month Libor +3% and its NAV has exhibited much
lower volatility than the FTSE All-Share index. Dividends have
increased each year since FY13; in the last two financial years the
dividend was increased by 4.6% per year. SIGT's prospective
dividend yield is 4.2%. The board has announced its intention to
introduce a discount control mechanism, which will commence on 1
August 2016.
SIGT's objective is to outperform three-month Libor plus 3.0%
over the longer term, with low volatility and the prospect of
income and capital growth, through investment in a multi-asset
portfolio including UK and overseas equities, fixed-income
securities, property and specialist assets. The trust changed its
name from Midas Income & Growth in October 2014.
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June 15, 2016 03:58 ET (07:58 GMT)
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