North American Income Share Discussion Threads

[aurelius5] 14/4/2021 17:49

A 4.6% rise in the final to 4.5p. An excellent performance.

[cartan1blue] 10/3/2021 08:09

I welcome the Board's decision to start buying back shares. They appear to be looking to purchase 50k per day when there is sufficient liquidity. If they achieved this, and continued for the full year, that would be the equivalent of buying back 10% of the issued shares. I don't think they will quite achieve this obviously, but if they manage half then it should help reduce the discount. I increased my position early this week when the discount blew out to above 15%. I will quieten down about discontinuation for the time being!

[aurelius5] 05/3/2021 09:45

A 5.5% increase in the Qu. 3 yield. That's very good going in the current climate.

[mister md] 26/2/2021 18:56

seems to have held up well this week versus the US markets performance ?

[123ct] 18/2/2021 08:00

I paired this with a S&P tracker last summer when I started rebuying this trust( I sold earlier in the year at a high price..total fluke and I cannot claim any skill in getting the market timing correct ) so I'm still quite relaxed about it, the yield of 4% is double that of the benchmark which it is currently underperforming, the benchmark of the Russell 1000 value yields just under 2% and the S&P yields around 1.4, the longer term track record is still good and beats most UK equity income IT on a similar yield, I also saw the Berkshire Hathaway buys on Tuesday evening ....Black Rock North America Income has closed its discount to around 5% so I still think the reflation/reopening trades will see the NAIT discount close to its long term average of close to par. On a interesting note I was trying all day yesterday to buy more and I could not get a offer all day so I can guess that there cannot be much selling pressure. I think the current discount of around 12% on a book of strong balance sheet businesses with a growing yield is a good long term hold.

[ramellous] 18/2/2021 07:31

Noticed in their top holdings there that yesterday’s Berkshire Hathaway holding declaration has some similarities. BH had increased holdings of Abbvie, Bristol Myers and Verizon.

[cartan1blue] 18/2/2021 07:01

I would be interested in views out there. This trust has been underperforming for quite some time now, and as the Board is doing nothing about it, investors appear to be voting with their wallets. At least that's what the discount to NAV suggests. Is there a case for a campaign for discontinuation? Views?

[peterbill] 10/2/2021 12:27

[...] Top 10 Holdings (31/12/2020)Rank Largest Holdings %1 ABBVIE INC 5.602 CITIGROUP INC 4.303 BRISTOL MYERS SQUIBB SA 4.304 PHILIP MORRIS INTERNATIONAL INC 4.305 VERIZON COMMUNICATIONS INC 3.906 MEDTRONIC INC 3.707 JPMORGAN CHASE & CO 3.508 TC ENERGY CORP 3.209 CISCO SYSTEMS INC 3.1010 OMEGA HEALTHCARE INVESTORS 2.80Breakdown of Assets %1 US Equities 87.402 Canadian Equities 8.103 Money Market 5.604 Money Market -1.10

[pvb] 18/1/2021 23:17

This thing is starting to feel like a bit of a dog. It's certainly no Scottish Mortgage!

[steve3sandal] 27/11/2020 22:40

I don't think that closing price will stick. All my ITs miraculously up a lot at the close today by outlier trades.

[pvb] 27/11/2020 22:07

...Improving now?

[pvb] 14/10/2020 14:08

Sadly, the XIRR on this in my ISA is currently a measly 1.17%! I originally purchased in 2016, 2017 and again in March this year. Very disappointing.

[29palms] 13/10/2020 17:45

NAIT has been trading at rather large discount since market correction around March and really has never recovered. Good value here IMO given NAV @ 257.55p including Income Didn't help either when Brewin Dolphin dumped 2.4m shares on 1st June. I continue to hold this given the yield of 4%+ and add from gains elsewhere.

[pvb] 13/10/2020 17:09

This seems to be doing really badly since the April collapse. The S&P has recovered, this has not.

[123ct] 26/5/2020 15:42

I like this IT, it was at 315p 3 months ago, I would love to say I got my timing right but a pure fluke I was out in the 290's and have been buying back in over the last month and like the dividend. It is underperforming the S&P but that's not it's benchmark, it's the Russell 1000 value, if you take out the top 5 or 6 tech names the S&P would be a lot lower with a yield of around 1.5% , NAIT yielding just below 4 so unless there is another big market sell off I like this holding, and I hope the 10% discount narrows to its historical 12 month average of around par to slight premium

[steve3sandal] 26/5/2020 11:12

Suddenly in May for no reason I can work out unless it's concern the dividend yield is Covid trashed, it's gone from trading round the NAV to a 12/13% discount. It's a collection of US dividend stocks and I quite like it here with the share price down nearly 30% over a year. It's got little exposure to hot tech.Obviously it's America so they have efficient balance sheets so apart from CME just o/s Top 10 they do all carry debt. It feels a sensible toe in the US water as the 30% share price fall perhaps reflects the 30% economic damage. At various times over 5 years it's beaten the S&P during the past 10 years but not in the last 5 as no hot tech held. Top 10 PEs on L4Q were between 11 and 19x, excluding Chevron (oil price slump) and Bristol Myers (takeover) and all seem to be paying Divs except perhaps Citi might have to pass if they need to make serious provisions in line with their embedded earnings. NAIT have 8.28p Div reserves after payment of the June one so I'd hope they may be able to hold 20/21 Div at 9.5p but even 8p would be 3.5% in line with what I think I'm getting on my portfolio in N12M.NAIT was founded in 1902 for people who like that sort of thing. They've very recently been tilting to more defensive and improving the quality of the portfolio. Sourced to Fact Sheet, Video, not my analysis. They also sell calls against holdings which generates a little extra juice in flat and down markets. No idea if their tilts will work but it's what I would do. On the other hand you could buy USA which is a newish 2yo IT Baillie Gifford US Growth Trust (USA). Shares have all but doubled in no time. Full on steroids US tech, momentum (that happens to be the same thing at the moment) but I think lower quality and more expensive. Some of USA holdings are not yet trading profitably. I'm interested to follow this contest but I've backed the tortoise at 225p straight out of the gatetoday.

[mister md] 06/4/2020 09:43

Looks quite good at these levels ...

[29palms] 29/7/2019 19:05

Once again new all time closing high @ £3.12 with intra-day @ £3.135 The more the fall in the value of £ v $ also provides a fill up to share price Always worth a read- Performance Data and Analytics to 30 June 2019 https://www.aberdeenstandard.com/docs?editionid=85053d22-49ff-4adc-89db-3faaa197a57e#_ga=2.180079267.686592185.1564423078-445261807.1564423078 As always, DYOR

[29palms] 17/6/2019 18:42

Nice to see a new all time intra day high of £3.02 today along with a new all time closing high of £3.00 Volume also picking up. IMO company done the right thing on 10th June.

[pvb] 10/6/2019 17:21

Shazam! Shares split x5 today.

[29palms] 11/4/2019 20:17

Nice move by company IMO and long overdue. At the forthcoming AGM, the Board will propose an ordinary resolution to sub-divide the existing Ordinary shares (currently with a nominal value of 25p each) into new Ordinary shares of 5p each.

[hsduk101] 11/4/2019 17:59

this one looks good, above market expectations always sounds good to buyers Think ill go in and get some of these Originally a high in 2016 of 1456p So I reckon this has some room to grow

[noslien] 11/4/2019 12:00

Yes, I agree. I just wish the charges were a bit lower, esp given this is a £400m fund Noslien

[29palms] 11/4/2019 07:22

Final figs today make nice reading with increase in Final Dividend to 18p per share. This should form part of any investor portfolio looking for exposure to S&P 500 stocks. As always, DYOR

[29palms] 01/3/2019 14:57

Always worth a read on wet weekends. Performance Data and Analytics to 31st January 2019 http://www.aberdeen-asset.co/static_files/documents/85053d22-49ff-4adc-89db-3faaa197a57e/26/83419-cd-121035862_itfct_nait.pdf