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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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Literature and research

Literature and research

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Company documents and policies

Company documents and policies

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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. Over a typical investment cycle, the trust will seek to achieve a total return of at least CPI + 6% per annum after costs with low volatility, and with the aim of growing aggregate annual dividends at least in line with inflation through the application of a Multi-Asset Investment Policy. 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.

 


Performance

 

 

Source: SenecaIM, Bloomberg & Morningstar. Share prices calculated on a total return basis with net dividends reinvested.

NAV returns based on NAVs excluding income and with debt valued at par. Returns do not include current year revenue.

Benchmark: LIBOR GBP 3 Months +3% to 06.07.17 thereafter CPI +6% after costs.

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.

Investment approach

Strategic asset allocation

Sigt Pie chat SAA

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

The Seneca IM investment team, pictured from left to right: Richard Parfect, Tom Delic, Mark Wright, Gary Moglione and Peter Elston.

The Trust is managed on a team based, research driven approach, with all members of the Seneca investment team contributing to decision making through their research specialities.

The overall responsibilities of the Investment Management team are shown below:

Investment team

Asset allocation research, Peter Elston, chief investment officer

Overseas equity and bond fund research (emerging markets), Tom Delic

Overseas equity and bond fund research (mature markets), Gary Moglione

Specialist assets research, Richard Parfect

UK equity research, Mark Wright

The broker to the Trust

Richard Harris
Investment Companies Sales

Cantor Fitzgerald
One Churchill Place
Canary Wharf
E14 5RB

0207 894 8646

The secretary to the Trust

Steven Cowie
Director – PATAC Ltd

10 St Colme Street
Edinburgh
EH3 6AA

0131 538 6604

Company documents and policies

Report and accounts

Click here to view historic report and accounts

Other Regulatory disclosures

SIGT Investor Disclosure Document

This document is issued by PATAC Limited as alternative investment fund manager of Seneca Global Income & Growth Trust plc (the “Company”) solely in order to make certain particular information available to investors in the Company before they invest, in accordance with the requirements of the FCA Rules implementing the EU Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (the “AIFMD”) in the United Kingdom

SIGT Investor Disclosure Document

The cost, performance and risk calculations included in this KID follow the methodology prescribed by EU rules.

Press releases and announcements

Click here to view historic press releases and announcements

Terms of reference

How to invest

The Seneca Global Income & Growth Trust plc 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 investment portals and is fully quoted on the London Stock Exchange.

Before investing you should consider whether the trust is suitable for your requirements. You must remember that the value of any investment you make may fall as well as rise, and that you may not get back what you invest. You must also remember that the income from investments may fall as well as rise, and that past performance is not a guide to future performance. If you are in any doubt about the suitability of this investment for you, you should seek professional financial advice.

Use the link below for further details.

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Personal Investors Disclaimer

These pages are designed for investors who are UK tax residents only and the funds listed may not be suitable for non-UK tax-resident investors.

Please read this page carefully, by proceeding you confirm that you have read and understood the information specified below and access to this website is only granted to users on this condition.

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 understand the risks involved, including the risk that the investments may not achieve their investment objectives and you may not get back the original amount invested. 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.

Seneca Investment Managers does not provide investment advice to personal investors. If you are uncertain whether any of the investments are suitable for your own circumstances please contact a financial adviser before taking any action. If you do not have an adviser, the Financial Conduct Authority provides information on how to find an adviser on their website. Click here.