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 May 2024 to Jun 2024 Click Here for more Midas Income & Growth Trust Charts.
Midas Income & Growth Trust (LSE:MIGT)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Midas Income & Growth Trust Charts.