Invesco Bond Income Plus Share Discussion Threads

[speedsgh] 28/6/2021 13:14

@unastubbs - The following is from the trust's Key Information Document...

Invesco Bond Income Plus Limited (the “Company”) is a closed-ended investment company incorporated in Jersey, Channel Islands, whose shares are traded on the London Stock Exchange. The Company is regulated by the Jersey Financial Services Commission.

[unastubbs] 28/6/2021 13:05

anybody know the domicile of this IT. a google search suggest jersey, but i can't get confirmation on the invesco's site for the trust - thanks in advance una.

[cwa1] 22/6/2021 14:04

A couple of PDMR purchases have been announced alongside this:-

HEADLINE: 2nd Interim Dividend

The Directors of Invesco Bond Income Plus Limited (the “Company”;) are pleased to announce the 2nd interim dividend, in respect of the year ended 31 December 2021, of 2.75 pence per share. This dividend will be paid on 18 August 2021, to shareholders on the register at close of business on 16 July 2021. The shares will be marked ex-dividend on 15 July 2021.

After its merger with Invesco Enhanced Income Limited (“IPE”) (the “Transaction”), and as set out as part of the merger proposals, the Company has adopted a dividend policy to target an annualised dividend of 11 pence per share (equivalent to a quarterly dividend of 2.75 pence per share) for the three year period following the Transaction. Further information in relation to the Transaction is set out in the announcement on 1 March 2021.

Issued for and on behalf of Invesco Bond Income Plus Limited.

[panshanger1] 11/6/2021 08:32

Added a few

[marktime1231] 10/6/2021 16:03

Actually city that is not right, BIPS (CMHY) almost always enjoying a small premium prior to the covid crash, it is in plain sight just look at the chart.

Happy to stick with BIPS as one of the pillars of my SIPP, you can retire on a reliable 5.7% actually nearly 5.8% today ... the down day you have been waiting for? It is NCYF which is worrying me because of its yield outlook, but not others I see because it is enjoying a 5% premium ahead of the 4th quarter super-dividend tba mid July.

[citytilidie] 10/6/2021 13:51

Both IPE and BIPS generally used to trade at a discount and they both only got close to trading at NAV just before the merger which is why I sold both. Looking to buy back very shortly. Just waiting for a down day FTSE wise

[marktime1231] 10/6/2021 11:56

I expect the discount will close over a cycle in the run to the next dividend are we expecting 2.75p ex-div mid July? The underlying NAV probably doesn't have much further to recover, but the predecessor to BIPS had a tradition of operating on a slight premium.

Logically we should return to that premium since management costs have been cut, assets bumped up by the merger with IPE, and the dividend increased 10%. A slight premium will give management the opportunity to eke out a little NAV growth by issuing new shares from time to time.

What I can't figure is whether appetite for bond / debt income with a good steady yield is likely to increase or decrease against a backdrop of returning inflation, the prospect of higher interest rates, a rotation out of heavily indebted risky growth equities into more solidly progressive investments. There are no clear arguments for where to be invested in the next couple of years, except a general consensus in favour of real asset-backed securities which can hope to increase prices / yields in line with inflation. Does that include BIPS, are bonds real assets, can the portfolio replenish maturing loans with even higher yielding ones ... my memory is not long enough to know how BIPS might behave through a possible inflationary cycle, but if building societies start issuing fixed-rate retail ISA bonds offering 7%+ interest again we will all be moving on unless BIPS comes up with its own improvements.

Personally I see real asset-backed securities to be things like investments in wind farms and energy storage schemes, stuff which generates (ha ha) rising revenues because we can't do without electricity and if prices have to rise because costs are up or supply is short then so be it. Other people argue in favour of consumer defensives like household products, groceries, tobacco, when things like loo roll or tea bags are in short supply or increasingly expensive we just have to stump up.

But bonds (baskets of corporate debt) where do we stand on bonds?

[citytilidie] 10/6/2021 10:18

It has done now.4-5% discount to NAV and should stay that way now

[ontheustreet] 09/6/2021 21:12

BIPS has been very volatile compared to its peers. When will it be settling down?

[pvb] 24/5/2021 16:14

LSE:BIPS does not yet seem to be available on ADVFN Monitor. Maybe at end of day or starting tomorrow?

OK, it has just updated.

[speedsgh] 24/5/2021 11:48

Thanks for new thread CWA1

[panshanger1] 24/5/2021 11:22

11 pence dividend @ 193 5.7 % guaranteed for 3 years has its attractions

[panshanger1] 24/5/2021 11:13

Thanks for setting up

[marktime1231] 24/5/2021 11:13

Well done CWA thank you for starting this new thread. Too early to judge if there is demand for BIPS to push the price up to a premium, watching NAV reports and volumes, it might take a while.

[cc2014] 24/5/2021 08:29

Good to see that after the change of name ADVFN thinks I'm invested in the alternative energy sector.

[cwa1] 24/5/2021 07:55

New thread for BIPS