Invesco Income Growth Share Discussion Threads

[hugepants] 02/12/2020 12:57

Correct. Hoping someone would pick up on that. Well done.

[north sea boy] 02/12/2020 12:53

100p out there HP, nav is 281.85 NSB

[hugepants] 02/12/2020 12:41

Todays nav is 181.85p. Say that's the NAV at the tender date it means the tender price would be 175p ie. 2.5% less than NAV. Usually not everyone tenders so should be able to tender more than the 30% minimum but maybe not that much more.

[bench2] 01/12/2020 16:35

Terrific news following on from Perp Inc & Gwth merging into Murray Income . I also hold Keystone which has risen on the news . The contrarian high discount investors will love this .......... what a run for anyone buying the totally unloved value and income trust in mid Sept .... Aberforth , Temple Bar , Edinburgh etc ....... The only dog that has not barked has been Scottish Inv Trust ( SCIN ) , but good things happen to those that wait .

[davebowler] 01/12/2020 10:20

01 December 2020 Invesco Income Growth Trust plc Proposed merger with Invesco Perpetual Select Trust plc Introduction The Board of Invesco Income Growth Trust plc (the "Company" or "IVI") is pleased to announce that it has agreed heads of terms with the Board of Invesco Perpetual Select Trust plc ("IP Select") in respect of a future merger with IP Select to be effected by way of a scheme of reconstruction (the "Scheme") under Section 110 of the Insolvency Act 1986 and a voluntary winding up of the Company. As part of the Scheme, IVI shareholders will have the option of a rollover into the UK Equity class of IP Select without triggering capital gains tax. IVPU

[davebowler] 01/12/2020 10:13

As at close of business on 27-November-2020 NAV per Ordinary share (unaudited) with Debt at Par & Fair Value EXCLUDING undistributed current year revenue 276.65p INCLUDING current year revenue 279.80p

[wskill] 01/12/2020 08:05

Does seem like a win win situation I will be holding mine not tendering for the cash offer happy that the manager will not change do like his choice of holdings . And if we can get the discount down with reduced fees that would do me . Tender at 2.5% discount around 270p at present by my reckoning

[frazboy] 24/11/2020 14:04

HP - could be, not sure. The buybacks have never really got going. At times in the last few weeks the discount has briefly (intraday) hit 18%. It's been a good rally so I've stepped out. Possibly not too wise as already have plenty of cash looking for a home, but I feel there will be opportunities here over the next few months.

[essentialinvestor] 20/11/2020 09:07

Looking for a move near £2.50

[hugepants] 20/11/2020 08:36

Discount is now over 16% fraz. Possibly buybacks have stopped because the company is now in a closed period before interims

[frazboy] 12/11/2020 08:40

Yep, HP, but twas always so! Https://www.trustnet.com/factsheets/t/bw13/invesco-income-growth-trust-plc The discount narrowed significantly in the expectation that the wind-up vote may have passed, but now it seems to be heading back to the mid-teens. It's never sustained a discount much above the current level (16% as I write), so that's a positive, I guess. And there is of course meant to be a share buyback programme - I don't know what happened to that!

[hugepants] 11/11/2020 13:26

The discount here is over 14% which looks high compared to the peer group eg EDIN is on a 7.5% discount.

[essentialinvestor] 28/9/2020 22:03

Had a few today zt 2.227 and 2.23.

[frazboy] 28/9/2020 20:01

Looking at the trades, I only count ~60,000. So, are they off-book. I've never understood this - anyone care to explain?

[essentialinvestor] 28/9/2020 17:56

Buyback started.

[frazboy] 25/9/2020 07:38

So, the vote for wind up was 20%. The number of shares which they have authority to buy back is a maximum of ~15% of the issued capital. Typical daily volumes are 50,000, so they have a maximum of 160 working days of supply - if no one else bought a share. There will clearly be keen sellers, some PI, and some, institutional, but I can't help but think (judging by my own view, obviously), that most folk will see the current valuations as on the low side so there won't be keen to sell at the current share price and discount. And of course we have a 5.5% dividend yield at the 220p mark to keep us on board. I look forward to seeing how this plays out in the next few days/weeks/months.

[north sea boy] 24/9/2020 15:20

Perhaps, but only if they start buying immediately at these low prices. Will be counter-productive if they wait till prices rise significantly again? Best wishes, NSB

[essentialinvestor] 24/9/2020 14:02

15% discount atm.

[essentialinvestor] 24/9/2020 11:05

Good move.

[frazboy] 24/9/2020 10:55

"The buyback may be funded from the Company's resources (including cash, portfolio sales and borrowing facilities)." I'm assuming the BB will mainly be funded from Portfolio sales but maybe a little more gearing too. It was 3% last time it was mentioned on the thread.

[essentialinvestor] 24/9/2020 08:44

Had a few this AM.

[essentialinvestor] 17/9/2020 13:56

Discount back to Over 14%.

[cousin jack] 15/9/2020 20:46

Today’s Citywire comment on the vote makes gloomy reading for those of us who hoped that at least the sizeable vote against continuation might bring about some change. hxxps://citywire.co.uk/investment-trust-insider/news/big-questions-for-invesco-income-growth-after-low-turnout-at-continuation-vote/a1401052?re=77974&ea=513123&utm_source=BulkEmail_Investment+Trust+Insider+Daily&utm_medium=BulkEmail_Investment+Trust+Insider+Daily&utm_campaign=BulkEmail_Investment+Trust+Insider+Daily

[wskill] 15/9/2020 07:06

Yes that is why I invested in ivi also do like the holdings will be hold ivi for the long term,also saw the same in egl they were out of favour for a long time also but came good after selling down the oil holdings. Pleased they did then concentrate on utilities after the sale made a very good profit there and invested here.

[essentialinvestor] 14/9/2020 16:00

Dont know the Manager personally and apologies if I gave that impression. IVI offers something a little different in terms of sector holdings, utilities being a heavy weighting. Also happen to like most of what they hold. If the % discount did push out again it may be worth a look.