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Seneca Global Income & Growth Trust plc

Aim and overview

Aim and overview

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Investment approach

Investment approach

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Team and contacts

Team and contacts

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Investor profile

Investor profile

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Prices and Net Asset Values

Prices and Net Asset Values

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Literature and research

Literature and research

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Company documents and policies

Company documents and policies

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Risk and performance rating

Risk and performance rating

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How to invest

How to invest

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Aim and overview

The Seneca Global Income & Growth Trust plc is designed for investors who wish to combine the benefits of a quarterly income with long term capital growth. The trust aims to outperform 3-month LIBOR (The London Interbank Offered Rate, which is the average interest rate at which a selection of London banks are prepared to lend to one another in Sterling) plus 3% over the longer term. The emphasis is on low volatility with the prospect of income and capital growth, through investing in a multi-asset portfolio.

The trust is managed in keeping with our multi-asset value investing approach. Assets held include UK and overseas equities, fixed interest, specialist investments and property. We believe that our value investing ethos holds out the prospect of superior long term returns.

 

Investment approach

Strategic asset allocation

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The Seneca Global Income & Growth Trust plc is distinctive amongst investment trusts in having a multi-asset value approach to investing. The trust aims to deliver a combination of income and capital growth while maintaining low levels of volatility. To do this it invests across five asset classes; UK and overseas equities, fixed interest and specialists and property.

The trust has a strategic asset allocation designed to ensure that it meets its long term objectives. In addition, the manager uses tactical asset allocation as a means of capitalising on new value opportunities as they appear. The strategic asset allocation is designed to support the long term growth aspiration of the trust. At the same time it means that income, for the trust’s regular quarterly dividend payments, is drawn from a broad range of assets.

In UK equities, the majority of our holdings are from the mid cap arena. We believe that this area offers greater systemic returns. And being less well-researched than the universe of larger stocks, it provides more opportunities and greater scope for us to add value to the portfolio.

In overseas equities we invest in funds managed by third party fund managers. We select managers and funds who share our value investing approach and who are focussed on returns rather than benchmarks. Within the specialist space, we invest in assets which we expect to deliver income which is  more reliable than equities and more able to grow than bonds. Our exposure to fixed interest, following the extended bull market in bonds, is highly selective.

Team and contacts

SIM-1The Seneca IM investment team, pictured from left to right: Alan Borrows, Richard Parfect, Tom Delic, Mark Wright, Peter Elston.

Management of the trust is a team approach, with all Seneca investment team members contributing to decision making in the fund through their research specialities. The named managers of the fund are Alan Borrows and Peter Elston. The overall responsibilities of the Investment Management team are shown below:

Investment team

Tactical asset allocation, Peter Elston, chief investment officer, Seneca Global Income & Growth Trust plc

Fixed interest research, Alan Borrows, senior fund manager, Seneca Global Income & Growth Trust plc and CF Seneca Diversified Income Fund

Specialist investment research, Richard Parfect, fund manager, CF Seneca Diversified Income Fund

UK equity research, Mark Wright, fund manager, CF Seneca Diversified Growth Fund

Global equity and investment themes research, Tom Delic, assistant fund manager, CF Seneca Diversified Growth Fund

The broker to the Trust

Ben Heatley
Investment Companies Sales

Cantor Fitzgerald
One Churchill Place
Canary Wharf
E14 5RB

0207 894 8229

The secretary to the Trust

Steven Cowie
Director – PATAC Ltd

10 St Colme Street
Edinburgh
EH3 6AA

0131 538 6604

Investor profile

The trust may be suitable for investors who:

Have medium to longer term objectives
Are seeking regular growing income and capital growth
Can afford some degree of capital risk

And wish to invest via:

NISAs (New Individual Savings Accounts)
SIPPs (Self Invested Personal Pensions)
Other pension wrappers
Insurance bonds
GIAs (General Investment Accounts)

Directly – please see how to invest

Prices and Net Asset Values

Risk and performance rating

Copyright © 2017 Morningstar UK Limited. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

 

 

 

 

 

 

 

FE Crown Fund Ratings do not constitute investment advice offered by FE and should not be used as the sole basis for making any investment decision. All rights reserved.

How to invest

The Seneca Global Income and Growth Trust is eligible for:

  • General investment accounts (GIA)
  • Individual savings accounts (NISA)
  • Self invested personal pension (SIPP)
  • Other pensions and tax wrappers

The trust is available through a wide range of wraps and platforms and is fully quoted on the London Stock Exchange.

Use the link below for further details.

Make an investment

Institutional Investors Disclaimer

This area of the website is intended for institutional investors who satisfy the criteria for professional client or eligible counterparty specified by chapters COBS 3.5 or COBS 3.6 of the Financial Conduct Authority Handbook.

Persons who do not meet these criteria cannot proceed any further and must leave the website or select another investor-type suitable to their own circumstances.

The information in this website does not constitute advice or a personal recommendation and you should not make any investment decisions on the basis of it. It does not take into account the particular investment objectives, financial situations or needs of investors.

The investments on this website constitute Open-ended Investment Companies and Investment Trusts. Their underlying portfolios are comprised of UK and International equities and fixed interest securities including government and corporate bonds, specialist investments including property and unquoted companies and other invested funds. Investors must have experience with or understand products with the risks that the investments may not achieve their investment objectives and where your capital is at risk. For a full description of the risks please refer to the Full Prospectus of the Funds or the latest annual report of the Investment Trust which are available in the Literature section of this website.