Seneca Global Income & Growth PLC Edison reviews Seneca Global Income & Growth Trust
25 October 2017 - 10:37PM
RNS Non-Regulatory
TIDMSIGT
Seneca Global Income & Growth PLC
25 October 2017
London, UK, 25 October 2017
Edison issues review on Seneca Global Income & Growth Trust
(SIGT)
Seneca Global Income & Growth Trust (SIGT) has changed its
benchmark to a more relevant CPI +6% rather than Libor +3%, aiming
to achieve an average annual return of 6% above the rate of UK
inflation over the course of a typical investment cycle. There has
been no change to the investment process; SIGT seeks to generate
long-term growth in capital and income, with low volatility of
returns, from a portfolio of multiple asset classes. Anticipating a
global economic downturn in 2020, SIGT is gradually reducing its
equity exposure. At end-September 2017, its tactical asset
allocation (TAA) was 59% to equities and 41% to other asset
classes, including more than 25% to specialist assets, which
generally yield 5-8%. SIGT aims to grow annual dividends at least
in line with UK inflation (as achieved in each of the last four
financial years). The trust has outperformed its blended benchmark
and the FTSE All-Share index over one, three and five years and
since its change of mandate in 2012.
Since adopting a discount control mechanism (DCM) in August
2016, SIGT's shares have traded close to NAV. The current 1.5%
premium to cum-income NAV compares to the average 0.7% premium of
the last 12 months (range of a 2.9% premium to a 2.1% discount).
Over the last three, five and 10 years, SIGT has traded at average
discounts of 1.2%, 3.9% and 6.4% respectively. SIGT has a
progressive dividend policy, aiming to increase annual dividends
above the rate of UK inflation; its prospective yield is 3.5%.
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
NRAMABBTMBJTBIR
(END) Dow Jones Newswires
October 25, 2017 07:37 ET (11:37 GMT)
Midas Income & Growth Trust (LSE:MIGT)
Historical Stock Chart
From Apr 2024 to May 2024
Midas Income & Growth Trust (LSE:MIGT)
Historical Stock Chart
From May 2023 to May 2024