M&G High Income Share Discussion Threads

[rcturner2] 28/7/2015 19:39

Mozy, it may be because this is a split trust with zeros and so on they are pretty much dinosaurs now, probably very hard to sell to joe public. They will likely offer a simpler replacement if they do windup.

[mozy123] 28/7/2015 19:36

I still think they will continue - restructure the debt element - why would a fund house want to lose £450mil of assets under management?

the use of derivatives is to help ensure a favorable outcome, so that a significant market fall doesn't completely wipe out the income shares.

I will mostly likely hold out to the end due to the income and Nav that is around the 70p cover + revenue reserve accrual.

[aleman] 28/7/2015 19:01

Try the link to the annual report in the middle of this page:



I have not considered how I will exit. It depends what crops up elsewhere.

[rcturner2] 28/7/2015 18:50

Thanks aleman fair point. I will be holding until the end. Get your dividend and the get the full nav at windup, seems pretty straightforward to me. I would actually be sad to see this go as it does provide a good level of income from a pretty vanilla investment trust.

[plasybryn] 28/7/2015 18:03

Aleman
Struggling to open your link even with http removed. Any thoughts please?

[plasybryn] 28/7/2015 17:55

How will you play your exit Aleman?

[aleman] 28/7/2015 15:58

It probably maximises the dividend income with the derivatives method to maintain it to the end, rather than decreasing the dividend significantly over the next two years.

[rcturner2] 28/7/2015 15:56

Happy with that.

Don't know why they need to use derivatives though, why can't they just slowly convert the holdings into cash at suitable intervals?

[plasybryn] 28/7/2015 15:41

Looking perky ahead of Ex Dividend date

[aleman] 22/7/2015 18:36

Higher final dividend than I expected. 2.0p makes 6.6p for the year (from 1.8p and 6.1p)

M&G High Income Investment Trust P.L.C. announces that at a meeting of the Board of Directors held today, it was resolved to declare a fourth interim dividend of 2.00p, an increase of 11.1% (2014: 1.80p) per Income Share, in respect of the three months period ended 31 May 2015. The dividend will be paid on 25 August 2015 to Income Shareholders on the register at the close of business on 31 July 2015. The ex-dividend date will be 30 July 2015.

The dividend will also be payable to holders of Income & Growth Units and Package Units.

[blackpoolsteve] 15/7/2015 19:11

Final results due probably this week

[plasybryn] 15/7/2015 17:16

This chart looks superb.
Ex dividend next week?

[aleman] 15/4/2015 16:37

Dividend Announcement



M&G High Income Investment Trust P.L.C. announces that at a meeting of the Board of Directors held today, it was resolved to declare a third interim dividend of 1.60p, an increase of 6.7% (2014: 1.50p) per Income Share, in respect of the nine months period ended 28 February 2015. The dividend will be paid on 22 May 2015 to Income Shareholders on the register at the close of business on 24 April 2015. The ex-dividend date will be 23 April 2015.

The dividend will also be payable to holders of Income & Growth Units and Package Units.

[mozy123] 08/4/2015 14:40

300,000 BG shares as of NOV. About .6%

[skinny] 08/4/2015 13:21

It isn't in their top ten holdings, but RDSB is number 1 @4.66%!

Security..................................... Weight

Royal Dutch Shell Plc B Shares EUR0.07 4.66%
GlaxoSmithKline plc Ordinary 25p 4.32%
BP Plc Ordinary US$0.25 3.83%
AstraZeneca plc Ordinary US$0.25 3.75%
HSBC Holdings plc Ordinary USD0.50 3.58%
British American Tobacco plc Ordinary 25p 3.51%
Essentra Plc Ord 25p 3.48%
Vodafone Group plc USD0.20 20/21 2.51%
Rio Tinto plc Ordinary 10p 2.05%
BT Group plc Ordinary 5p 2.04%

[rcturner2] 08/4/2015 13:18

I started an MGHU thread a while back if anyone is interested.

[mozy123] 08/4/2015 13:15

Thankyou for your input 2wild!

One thing is for sure - they need to make any new trust more liquid. The spread is a killer here!

How much BG do we own here? :)

[2wild] 08/4/2015 12:38

What normally happens at wind ups on splits, and from memory what happened on this one (a long lime ago when there were many more) is there is a new roll over trust, which may or may not have a similar structure and you will be given various options. Cash, shares in the rollover and/or some other equivalent cash/bond/share option. The new trust or rollover may also look to raise additional money from new /current investors to replace those cashing in and/or to re balance the new equity for each classes of shares. This will all depend the on the level of market, NAVs and discussions with the largest investors.

[mozy123] 24/3/2015 20:10

Yes - Very tempting to buy more mghi in the hope of locking in a 10%+ yield for years to come on a continuation.

[lord gnome] 24/3/2015 19:39

Yes please Mozy, I'd certainly vote for that. Yield of 10%+? I could never replace that.

[mozy123] 24/3/2015 19:35

I would love a continuation vote in 2017 - and a nice low interest rate accrual for more ZDP's - or even conventional debt...

I also doubt m&g want to lose £500mil of assets on a wind up anyway...

Discuss ;)

[aleman] 24/3/2015 17:59

Please continue to interlope. The more, the merrier as far as I'm concerned and you are most welcome. I was merely making the distinction for those not in the loop and was not implying any displeasure.

[lord gnome] 24/3/2015 17:06

Apologies Aleman. You are correct in that I hold MGHU. As far as I am aware, there isn't a specific thread for MGHU so I will continue to be an interloper on here.


Edit: Having posted that, I searched just to check that my facts were correct and I have found a new thread for MGHU started in January. I'll get my coat…..