QuotedData Equity Research & Stock Reports
- Professional research and all the latest forecasts, valuation opinions and multiples from QuotedData's expert analysts.
- Real-time updates from analysts following company announcements and other events.
- Near-live share prices, user-friendly dashboard, charting and company content.
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Economic & Political Roundup
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned.
14 Jun 17
Seneca Global Income & Growth Trust
Seneca Global Income & Growth (SIGT) has continued to outperform its flexible investment peer group, since QuotedData last wrote, while providing lower volatility of returns. Under its discount control mechanism, SIGT has been recently issuing and repurchasing shares (see page 2). Demand has been stronger than its managers expected and the trust has expanded. Assuming this trend continues, it should lower SIGT’s ongoing charges ratio (a measure of the annual drag on performance caused by operational expenses). Recently, SIGT’s manager has been reducing exposure to equities, with overseas equities taking the brunt. This reflects the manager’s views that equity markets have experienced reasonably strong rises during the last few months, and so are now at less attractive valuations, and that the global business cycle is making progress and we are moving closer to a point where we experience the next global recession
13 Jun 17
Uncorrelated yield opportunity
Blue Capital Alternative Income Fund Limited (BCAI) helps insure the insurers, diversifying its portfolio across a range of potential catastrophes. This business is largely uncorrelated with traditional investment markets, so the fund offers investors alternative income with a yield of 6.5%. The return from inception to 31 March 2017 is 45.8% (9.1% a year). The shares trade at a discount to NAV of 7.8%. This is higher than most alternative income funds. BCAI’s managers say the discount is unwarranted, given the strength of the opportunity and its strong and stable performance. They believe that the discount offers a good entry point.
31 May 17
Structural growth, low volatility and high income
Ecofin Global Utilities and Infrastructure Trust (EGL) invests in utilities and other economic infrastructure equities and is looking to deliver a total return of 6-12% per annum to shareholders over time. These sectors are traditionally less volatile than global equities in general, and the manager expects strong demand for infrastructure spending globally and attractive returns for providers of capital. We think that EGL, with its focus on growth, capital preservation and a high level of income (EGL currently offers a yield of 5.2%), should be attractive to investors. The current discount of 12.9% offers comfort and an opportunity.
23 May 17
Drum Income Plus Reit
Delivering on promises
DRUM Income Plus REIT (DRIP) focuses on acquiring properties overlooked by large institutional and overseas buyers (smaller lot sizes, multi-let). It provided an NAV total return of 2.4% in Q1 2017 (1.6% of which related to income and 0.8% to capital). Its most recent acquisitions (the latest, Kew Retail Park, was announced on 11 May) were, the manager thinks, made at particularly attractive net initial yields and the manager is engaged in a number of asset management initiatives with the aim of further improving income from the portfolio. DRIP recently issued some shares; it remains small, but still has a strong desire to grow, with the aims of increasing its cost efficiency and liquidity.
16 May 17
QuotedData Research and Daily Commentaries
Research Tree offers QuotedData research, providing ongoing coverage of 25 shares , as well as macro-economic categories including: Commodities - Energy, Economic Data, Emerging Markets, Foreign Exchange, Housing Market, and Indices and Markets. We offer 65 reports from QuotedData on Research Tree.
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