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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| M&g Credit Income Investment Trust Plc | MGCI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 91.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 91.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 24/01/2024 | Interim | GBP | 0.0214 | 01/02/2024 | 02/02/2024 | 23/02/2024 |
| 25/10/2023 | Interim | GBP | 0.0212 | 02/11/2023 | 03/11/2023 | 24/11/2023 |
| 26/07/2023 | Interim | GBP | 0.0193 | 03/08/2023 | 04/08/2023 | 25/08/2023 |
| 26/04/2023 | Interim | GBP | 0.0177 | 04/05/2023 | 05/05/2023 | 26/05/2023 |
| 24/01/2023 | Interim | GBP | 0.0243 | 02/02/2023 | 03/02/2023 | 24/02/2023 |
| 25/10/2022 | Interim | GBP | 0.0114 | 03/11/2022 | 04/11/2022 | 25/11/2022 |
| 26/07/2022 | Interim | GBP | 0.0096 | 04/08/2022 | 05/08/2022 | 26/08/2022 |
| 27/04/2022 | Interim | GBP | 0.0082 | 05/05/2022 | 06/05/2022 | 27/05/2022 |
| 26/01/2022 | Interim | GBP | 0.0178 | 03/02/2022 | 04/02/2022 | 25/02/2022 |
| 26/10/2021 | Interim | GBP | 0.0076 | 04/11/2021 | 05/11/2021 | 26/11/2021 |
| 27/07/2021 | Interim | GBP | 0.0076 | 05/08/2021 | 06/08/2021 | 27/08/2021 |
| 20/04/2021 | Interim | GBP | 0.0074 | 06/05/2021 | 07/05/2021 | 28/05/2021 |
| 28/01/2021 | Interim | GBP | 0.0195 | 04/02/2021 | 05/02/2021 | 26/02/2021 |
| 26/10/2020 | Interim | GBP | 0.0071 | 05/11/2020 | 06/11/2020 | 27/11/2020 |
| 28/07/2020 | Interim | GBP | 0.0077 | 06/08/2020 | 07/08/2020 | 28/08/2020 |
| 28/04/2020 | Interim | GBP | 0.0085 | 07/05/2020 | 11/05/2020 | 28/05/2020 |
| 29/10/2019 | Interim | GBP | 0.0165 | 06/02/2020 | 07/02/2020 | 28/02/2020 |
| 18/07/2019 | Interim | GBP | 0.0209 | 25/07/2019 | 26/07/2019 | 23/08/2019 |
| Top Posts |
|---|
Posted at 09/5/2019 07:32 by cc2014 The NAV is 100.1p and it's 105p to buy.I can't understand why this is trading at such a premium other than if IFAs keep pointing their customers at it, it's supply and demand of shares. MGCI is just going to keep on issuing shares until the premium disappears. |
Posted at 24/11/2018 15:01 by jonwig Thanks for starting this thread.I'm interested, but watching only. Here's David Stevenson in the FT: There is now an investment trust listed on the main London market which offers something close to my ideal. M&G’s Credit Income Investment Trust now trades under the ticker MGCI, having raised £100m. Managed by Jeremy Richards, the fund has a management fee of 0.7 per cent per annum, with an introductory rate of 0.5 per cent until the end of next year. The company has a long-term target dividend of Libor plus 4 per cent. Although still a relatively small fund, and one that operates in a complicated, esoteric market of lending directly to businesses, I am attracted by the fact that it is managed by a world-class institution like M&G. Initially, the fund is likely to have a decent weight in commercial real estate loans, among other types, but it also has the capacity for direct lending, and can invest in leveraged loans, bonds, private placements, structured credit and infrastructure debt. For more adventurous investors looking for an income, I’d be sorely tempted to ditch some of the more esoteric lending funds and focus on a generalist David Stevenson As an investment house, fund manager M&G is well known for its bond market expertise (check out its Bond Vigilantes blog) meaning management are less likely to miss the really big trends in fixed income. The other big positive is the target yield of Libor plus 4 per cent. This feels about right in these increasingly tough markets. Many fund managers operating in private credit markets have much more ambitious yield targets, but these inevitably involve much more risk. Investing in illiquid debt looks attractive from an income point of view until the wider economy suffers, in which case that illiquidity becomes a real problem — you can’t shift the damned loan off your books. So far, the M&G fund is focusing on what are termed investment grade assets (with a rating of at least BBB- or comparable internal rating). This means the yield might be lower but, I would hope, more sustainable in the long term. Many of the loans in its portfolio have some form of floating rate structure built in, which means that if interest rates carry on rising, investors will get a higher return. For more adventurous investors looking for an income, I’d be sorely tempted to ditch some of the more esoteric lending funds and focus on a generalist. Let’s just hope that the fund managers can grow assets beyond the initial £100m before the next downturn comes along and pushes up defaults. [I see you've linked to an earlier article of his.] |
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