Seneca Global Income & Growth Trust plc, (the Trust), with total assets of £65.6 million, announces its interim results for the six months ended 31 October 2015.
- Share price rose 3.6%
- Quarterly dividend increased by 5% year on year
- Prospective yield of 4.1%
- NAV declined modestly by 1.3%
- Annualised volatility of 7.6% compared to 13% for the FTSE All Share Index
- The Board plans to introduce a discount control mechanism to regulate the share price at the next AGM, in July 2016
The Trust has a distinctive multi-asset value approach to investing, focusing on quality and price, which has contributed to a good six months for the share price, increasing from 141.0 pence to 143.1 pence.
In a turbulent period that began with the Greek debt crisis and ended with falls in China, the Trust’s NAV declined modestly. Against this background, the portfolio has continued to produce a strong and balanced flow of income across all asset classes and announces a 5% increase in quarterly dividend.
Seneca Global Income & Growth Trust plc has achieved consistent performance and seen its discount narrowing by in excess of 10% since its mandate changed in 2012. The Trust, managed by Seneca Investment Managers, the Liverpool based investment house, recently received an Investment Week Investment Company of the Year award.
Richard Ramsay, Chairman, said: “We will seek to maintain and build the good investment performance record achieved since January 2012 when the Trust’s investment policy changed. The Trust offers investors a combination of good performance and yield, a growing dividend, quarterly distributions and low volatility, built on a strong multi-asset, value approach to investing.’
All data as at 31st October 2015
Source R&H Fund Services Ltd., Bloomberg, Seneca IM
Prospective yield – See SIGT RNS 12th November 2015
Past performance is not a guide to future returns. The value of investments and any income may fluctuate and investors may not get back the full amount invested. This document is provided for the purpose of information only and if you are unsure of the suitability of these investments you should take independent advice.
Before investing you should read the Trust’s listing particulars which will exclusively form the basis of any investment. Net Asset Value (NAV) performance is not linked to share price performance, and shareholders may realise returns that are lower or higher in performance. The annual investment management charge and other charges are deducted from income and capital. The prospective yield calculation is based on the next four dividends anticipated, compared against the month end share price.
Seneca Investment Managers Limited is the Investment Manager of the Funds (0151 906 2450) and is authorised and regulated by the Financial Conduct Authority and is registered in England No. 4325961 with its registered office at Tenth Floor, Horton House, Exchange Flags, Liverpool, L2 3YL. FP15/156.