Invesco Income Growth Share Discussion Threads

[essentialinvestor] 30/11/2019 00:08

Yes that's a valid observation. Their UK utility weighting at around 12% atm
may be a factor in this. If we get certainty that re-nationalisation is off
the table would expect that to close somewhat.
Mark Barnett's performance may also be in the mix, although he does not manage IVI
both Invesco and Mark are frequently mentioned in the press and not always in
glowing terms. If you compare the EDIN portfolio to IVI, there are some marked differences in holdings.

[frazboy] 29/11/2019 22:13

Bought a few over the last couple of days. I did note that the discount although near a peak seems to be pretty well rooted - at least if you judge it over the short/medium term.

[essentialinvestor] 29/11/2019 11:06

NAV at another 12 month high.

Intend to add on any market weakness.

[stevieweebie2] 26/11/2019 16:27

just bought in yesterday for my SIPP for the first time, will let it ride now and see what the years bring, I dont tend to tinker.

[tiltonboy] 26/11/2019 11:25

I picked up quite a few yesterday. I think we are seeing selling just because it's an Invesco fund.

[essentialinvestor] 26/11/2019 11:04

Exited my LWDB holding yesterday afternoon and added a few here.

I can only think that some are expecting lower equity markets
re the discount on IVI. It is a smaller Trust and perhaps not as liquid
as some of the larger Investment Trusts.


October gearing for IVI was down to just 1%, so Ciaran is uber cautious on equity markets atm it appears.

[davebowler] 26/11/2019 10:39

NAV 22 Nov INCLUDING current year revenue 327.26p

[hugepants] 26/11/2019 08:23

It does look at least 5% cheaper than similar investment trusts

[essentialinvestor] 25/11/2019 13:17

If today's market gains hold, NAV may be very near 3.30 a share,
a 12 month high.

Cheap as chips imv.

[davebowler] 19/11/2019 12:57

18 Nov NAV INCLUDING current year revenue 327.26p

[essentialinvestor] 18/11/2019 12:28

May also be a mistaken assumption that Mark runs this fund, he doesn't.

It's run by Ciaron Mallon, who has a very different outlook.

[essentialinvestor] 18/11/2019 10:37

* UK utilities weighting - that becomes a non issue if the Tory party
get back in.

17% NAV discount with near 0 gearing.

[gilesy] 18/11/2019 10:32

bought some more today
good yield and cant fathom why the discount (16%) is so large compared to peer group

[essentialinvestor] 15/11/2019 10:00

Added a chunk yesterday.

[essentialinvestor] 05/11/2019 08:19

If market strength continues we should break clear of 2.80 + area.

[essentialinvestor] 04/11/2019 14:12

In terms of utilities, worst case now it's a Labour minority government.


To get a radical agenda through the HoC (which includes utility privatisation) it would have needed an overall majority.

[tiltonboy] 04/11/2019 13:48

Even Mark Barnett.

[essentialinvestor] 04/11/2019 13:47

IVI is NOT run by Mike Barnett, that's the first point to make.

The IVI portfolio is very different to EDIN.

[hugepants] 04/11/2019 13:23

Bought some of these. Looks cheaper than EDIN and PLI which are from the same stable. Gearing is almost zero. I take the point re exposure to UK utilities (possible nationalisation) but the chances of this must be very small and I doubt the impact to NAV would be > 5%

[essentialinvestor] 21/10/2019 14:30

Hi Jack, yes however the NAV % discount is imv largely due to the high utility
weighting, think there is scope for that to close if we see a majority Tory
government.

[cousin jack] 21/10/2019 14:20

EI: But only c. 15% of the portfolio is outside the FTSE 100 so scope for narrower discount likely to be impacted by possible rise in sterling ? Maybe better to look for funds with higher FTSE 250/350 weightings ?

[essentialinvestor] 21/10/2019 11:42

Around a 16/16% NAV discount atm, would expect that to close to around 7/8%
following the general election, provided there is a Tory majority government.

[orinocor] 12/10/2019 15:52

Massive rally in FTSE 250 stocks yesterday. Ive just checked IVI's top ten holdings and 9 of them are down - some heavily!

Experian
GlaxoSmithKline
Ferguson
RELX
Informa
Young & Co's Brewery
BP
British American Tobacco
Royal Dutch Shell - B Shares
Smith & Nephew

[essentialinvestor] 03/10/2019 14:40

Added , but surprised this was not available lower today.