Seneca Global Income & Growth PLC Edison issues review on Seneca Global Income
June 28 2017 - 3:53AM
RNS Non-Regulatory
TIDMSIGT
Seneca Global Income & Growth PLC
28 June 2017
London, UK, 28 June 2017
Edison issues review on Seneca Global Income & Growth Trust
(SIGT)
Seneca Global Income & Growth Trust (SIGT) has proposed
changing its benchmark to a more relevant CPI +6% versus the
current Libor +3%; it aims to generate income and long-term capital
growth across multiple asset classes with low volatility. SIGT also
aims to grow annual dividends at least in line with UK inflation.
It currently has a long-term strategic allocation to equities (60%,
split 35% and 25% between UK and overseas), fixed income (15%) and
specialist assets (25%, generally yielding 5-8%). SIGT has
outperformed its current benchmark and the FTSE All-Share index
over three and five years and since its change of mandate in 2012,
with lower volatility than the UK equity market. Annual dividends
have increased above the level of UK inflation for the last four
years and SIGT has regularly added to reserves. The board has been
actively utilising the discount control mechanism that was
initiated in 2016, with the aim that SIGT's shares trade close to
its NAV.
SIGT's shares are currently trading at a 1.4% premium to
cum-income NAV; this is modestly higher than the 0.3% average
premium of the last 12 months. The board has been actively
utilising the discount control mechanism (DCM), repurchasing shares
when they are trading at a small discount and issuing shares when
they are trading on a small premium. The current premium compares
to average discounts of the last three, five and 10 years of 1.9%,
4.9% and 6.7%, respectively.
Click here to view the full report.
All reports published by Edison are available to download free
of charge from its website
www.edisoninvestmentresearch.com
About Edison: Edison is an investment research and advisory
company, with offices in North America, Europe, the Middle East and
AsiaPac. The heart of Edison is our world-renowned equity research
platform and deep multi-sector expertise. At Edison Investment
Research, our research is widely read by international investors,
advisers and stakeholders. Edison Advisors leverages our core
research platform to provide differentiated services including
investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct
Authority.
Edison is not an adviser or broker-dealer and does not provide
investment advice. Edison's reports are not solicitations to buy or
sell any securities.
For more information please contact Edison:
Mel Jenner, +44 (0)20 3077 5720
Gavin Wood, +44 (0)20 3681 2503
investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison
on:
LinkedIn https://www.linkedin.com/company/edison-investment-research
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRALIFEDRLITFID
(END) Dow Jones Newswires
June 28, 2017 03:53 ET (07:53 GMT)
Midas Income & Growth Trust (LSE:MIGT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Midas Income & Growth Trust (LSE:MIGT)
Historical Stock Chart
From Jul 2023 to Jul 2024