Invesco Income Growth Share Discussion Threads

[tiltonboy] 16/6/2020 11:12

I have given my views to the chairman!

[essentialinvestor] 16/6/2020 11:04

If markets hold around current levels that looks a nice each way opportunity?. IVI with a big revenue reserve as well. Ex divi later this month.

[essentialinvestor] 16/6/2020 10:34

On an approx 14% discount to NAV with a redemption vote looming.

[tiltonboy] 03/6/2020 17:01

End of April

[essentialinvestor] 03/6/2020 11:50

Is that from the May factsheet?.

[tiltonboy] 03/6/2020 11:45

Net gearing is 3.8% Wind-up vote could be quite close. With Invesco having such a poor name, it wouldn't surprise if it goes. Would be a shame for Ciaran, who I have time for.

[essentialinvestor] 03/6/2020 11:40

Looking at the May factsheet, there now appears to be a net cash position?, just wondering if I'm reading that correctly?.

[badtime] 31/3/2020 12:15

Beginning to wish I put a foot in....still I think there will be further opportunities ahead

[badtime] 25/3/2020 10:32

That windup vote gives us potentially a margin..l.which is why i stuck a toe in...plus a spread...but buying in little bits personally and on bad days

[essentialinvestor] 25/3/2020 08:51

With a wind up vote in September and NAV significantly Above current share price levels, looks rather cheap imv.

[badtime] 24/3/2020 22:53

Toe in at 190

[essentialinvestor] 24/3/2020 22:31

Looks value ?.

[badtime] 13/3/2020 14:34

EI in yesterday out today?

[essentialinvestor] 12/3/2020 09:48

Fantastic trading on the market risks here by the Manager, keeping testing ultra low. If this is wound up its s travesty.

[gilesy] 03/2/2020 14:20

topped up at 3.02 good yield , wide discount , and possibility of winding up though I would not vote in favour

[davebowler] 03/2/2020 08:20

hTTps://citywire.co.uk/investment-trust-insider/news/trust-watch-invesco-income-could-make-each-way-bet/a1319199?section=investment-trust-insider&_ga=2.11623991.2033530872.1580717872-1995100400.1579692741#i=3 Invesco Income: a two-way bet? Invesco Income Growth (IVI) doesn’t appear on this week’s list of big risers (next slide) but its announcement on Monday that it would hold a continuation vote in September did lift the shares. The offer of a vote was the board’s response to the chronically wide discount on the Ciaran Mallon managed trust, which like the funds of his boss Mark Barnett, trails the FTSE All-Share and the UK Equity Income sector over five years. The announcement had the desired effect, however, narrowing the discount to just under 11% compared to its 12-month average of 15%. Although not a great performer, the shares could offer a two-way bet. On the one hand a revival of UK domestic stocks could improve performance and boost returns by narrowing the discount. If not, the trust may well be wound down and investors will get a chance to exit near NAV, which after costs could give them an uplift of about 9%. Next: Leaf blazes into history

[topvest] 30/1/2020 21:18

This trust has 20 year dividend record and has delivered sound performance. I support it continuing.

[tiltonboy] 29/1/2020 15:17

In the last year, three of my trusts have or are in the process of being wound up. MCP, JGCI, and HAST have just announced they are doing so. All had been on long-term discounts, and unable to grow. MCP made the decision themselves, but JGCI and HAST faced shareholder pressures and succumbed. I lunched with Ciaron a few months ago and asked him if he felt under pressure, and he bravely admitted he was, and looked very much resigned. Of course, performance has improved, and the board are backing him, but this vote would not have been proposed if there was unequivocal support. Now for the dilemma, I rate him as a manager, but the uplift on a wind-up may be too good to turn down. Without doubt, a trend has started, and further funds will follow. ALAI with a market cap of £45m needs to be put out of it's misery for one.

[essentialinvestor] 29/1/2020 15:00

It was nearly 18% just a few months ago.

[hugepants] 29/1/2020 14:58

Discount is still over 10% so its only closed by a few %. Anyone know when is the windup vote?

[davebowler] 29/1/2020 14:05

I'll be voting for it to get the uplift from the decrease in discount. There are a few similar precedents. Lazard World Trust for instance.JP Morgan Convertibles recently.Both were from shareholders tired of the persistent discount to NAV.

[frazboy] 29/1/2020 13:59

Is there any chance the wind up vote will be successful? Any historical precedents?

[essentialinvestor] 29/1/2020 13:37

There's the NAV closure I thought was on the cards, as mentioned a couple of times previously. Think they are fair value now rather than bargain territory.

[davebowler] 29/1/2020 13:25

As at close of business on 28-January-2020 NAV per Ordinary share (unaudited) with Debt at Par & Fair Value INCLUDING current year revenue 341.37p

[davebowler] 27/1/2020 16:30

hTTps://www.ftadviser.com/investments/2020/01/27/underperforming-invesco-trust-could-be-shut/?utm_campaign=FTAdviser%20news&utm_source=emailCampaign&utm_medium=email&utm_content=