Perpetual Income And Gro... Share Discussion Threads

[hugepants] 18/6/2019 12:48

No its only down a couple of % since Jan 1. Still pretty awful share price performance versus the benchmark

[hugepants] 18/6/2019 12:45

Am I reading this right. PLI has DROPPED about 9% since the start of the year whereas the FTSE is UP about 9%?

[contrarian joe] 12/6/2019 20:13

Mark Barnett seems to think that the market is only interested in momentum,growth,tech,& have shunned sterling uk assets.Looking through he's portfolio tobacco is over 11% which will account for 6/7% of underperformance over 2yrs.He's made some big sector positioning errors,add on the gearing of 17%,woodfords clone like character stock selection,some unknown unlisted stuff,wan't go on must be to depressing if you hold so do apologise.Back on my watchlist on the hope he's shown the door,hope it comes good for holders in here.

[andyj] 12/6/2019 15:25

In their defence, despite having fallen continuously for 5 years the total return is close to zero. Not that is anything to celebrate given how much the market has risen!

[andyj] 12/6/2019 11:03

The discount is now nearly 15%, the buyback does not seem to have any impact and PLI is at risk of significant underperformance against the index for a third successive year. With Brexit soon to come to the fore again it is hard to see how they can turn around.

[edwardt] 30/5/2019 15:26

sack the manager and give it to woodford. i jest.

[2wild] 30/5/2019 14:59

Picked up a few at 311.17p today. 4.8% yeild going forward.

[andyj] 28/5/2019 09:36

It is shockingly poor. For a fund manager as esteemed as Mark Barnett it is really unacceptable. I read things like, he is a contrarian and it is just temporary underperformance. The reality is that he has sat on tobacco and watched it fall to oblivion. If I buy companies that fall for three years I do not call it underperformance, I call them bad decisions.

[north sea boy] 23/5/2019 21:15

"The Directors are pleased to declare a fourth interim dividend for the year
ended 31 March 2019 of 4.75p per Ordinary Share. The dividend is payable on 28
June 2019 to Ordinary Shareholders on the register on 7 June 2019. The shares
will be marked ex-dividend on 6 June 2019. "

No special dividend this year, so total dividend for year down 0.2p at 14.5p

Anyone else feel a little bit disappointed with this??

Hmm...

NSB

[gilston] 20/7/2018 12:54

With a discount around -12%, the Board must do something. Change the manager perhaps?

[north sea boy] 18/7/2018 19:09

Glisten, I am not generally a fan of buy backs in companies, e.g., its not doing much good at LLOY at the moment. However, I do agree that (for whatever reason, probably the ongoing dilution of new shares issued to cover bonuses etc.) they do seem to be more effective when implemented through an investment trust; FRCL being one example that springs to mind where it has worked well over the years, and has helped to keep the discount under 10%. I personally have held a holding in PLI for around 2 years now, and think the overall performance has been fairly underwhelming over that period, when compared to other holdings I currently have in in CTY, MRCH, FCPT, EAT, and even IVI.

[gilston] 17/7/2018 18:33

Much discussion at the AGM today about share buy backs, with the discount at -12%.
Will the Board use its power to effect this?

[gilston] 09/4/2018 17:46

Performance now very poor. Does this reflect lack of confidence in Brexit or in Mark Barnett?

[edwardt] 12/4/2017 18:01

apparently the savings scheme at IP has been switched to self trade and I guess this comes with added expense to investors hence probably been a lot of selling by private investors which may explain the widening of the discount. any views?

[gilston] 15/2/2017 23:03

What "process" is that then?

[contrarian joe] 15/2/2017 21:24

Gilston, they have in place a process that ensures that the market rating of the fund reflects the underlying Nav. I'd be disappointed if there wasn't a buy back,"they also have skin in the game".Significant holdings below.

Invesco Pli saving scheme 20.3%
Hargreaves Landsdown 8.4%
Brewin Dolphin 5.5%
Rathbone 5.1%
Alliance Trust 5%
Invesco Wealth 4.1%

[gilston] 15/2/2017 17:48

Some share buy-backs would be useful here.

[contrarian joe] 13/2/2017 21:13

Top 10 holdings % portfolio
Reynolds American - US common
stock
6.4
British American Tobacco 4.6
BP 4.4
AstraZeneca 3.6
Imperial Brands 3.6
BAE Systems 3.4
BT 3.2
Provident Financial 2.9
Legal & General 2.8
Roche - Swiss common stock 2.8
Total 37.7
Industry breakdown % portfolio
Financials 31.3
Health Care 16.5
Consumer Goods 14.6
Industrials 13.6
Consumer Services 9.1
Telecommunications 5.2
Utilities 5.2
Oil & Gas 4.5
Total
Top Ten, 37.2%
Top 20, 58.6%
Top 30, 74.4%

[contrarian joe] 02/2/2017 17:50

Been grabbing some at these levels,has under performed this year mainly due to he's rigid approach on stock selection.Deffensive is a big part of the portfolio which have been out of favor of late as you can see below, "the top ten have no cyclical s".Now trading on a 9.7% discount (average over last 12 months 5%),however from 2012 to 2015 they touched 5% discount only 3 times & swung between +1% -2.5 for the duration.
ngs 31/12/2016 % of Assets
Reynolds American, Inc. 6.4
British American Tobacco 4.6
BP Plc 4.4
AstraZeneca 3.6
Imperial Brands PLC 3.6
Bae Systems Plc 3.4
British Telecom Group PLC 3.2
Provident Financial 2.9
Roche Holding AG 2.8
Legal & General Plc 2.8

[gilston] 13/12/2014 21:33

When the market is falling through the floor,it seems a curious time to allot more shares onto the market!

[joan of arc] 21/8/2014 15:00

This is a bloody disaster The last 3 months the NAN, which is geared too, is underperforming it's tracking index and the share price has gone from a 2% premium to a 3% discount. And what do our well paid fund managers do to stop the rot - NOWT!

[plasybryn] 11/2/2014 18:09

Still showing a nice Stage 2 chart