Premier Miton Global Ren... Share Discussion Threads

[whilstev] 20/2/2020 09:25

Share price catching up with the rise in NAV. I am hopeful for a small rise in the full year dividend due next week.

[whilstev] 22/7/2019 09:14

Thanks carterit that makes it clear and easy to monitor.

[carterit] 13/7/2019 18:17

24073337 preference shares ,to be redeemed at 125.65 p on 30/11/2020=30.248M

Total current assets less liabilities = 55.4 M

Number of ordinary shares=18,088,480
Value of ordinary shares = (55.4-30.248)=25.152M
Value of ordinary shares based on preference shares redemption price of 125.65 in Nov 2020 = 25.152/18,088,480=1.39

[neilyb675] 12/7/2019 08:11

123.00 - 127.00 (GBX) at 07:41:33
on Market (LSE)

[neilyb675] 04/7/2019 18:17

nice little nudge up today....

[aleman] 04/7/2019 15:55

Not sure. I did a similar exercise many months ago and I think it changed the superficial discount from 15% to about 8% but this ratio changes over time.

[whilstev] 04/7/2019 13:49

Yes my apologies. Is that about 5% of NAV ?

[aleman] 21/6/2019 15:36

You should really include the zero's assets when assessing the discount.

[whilstev] 21/6/2019 14:58

Looking very cheap here again.Div yield 8.5% discount to NAV approx 13%

[skinny] 03/5/2019 15:22

A more user friendly view :-

[neilyb675] 03/5/2019 08:50

Premier Global Infrastructure Trust PLC announce that at close of business on 30 April 2019 its twenty largest investments were as follows:
Company
% of total net assets
Cia de Saneamento do Para (Units 1 Ord, 4 Pref)
7.1%
China Everbright Intl.
6.4%
Northland Power Income Fund
5.3%
Atlantica Yield
5.2%
First Trust MLP and Energy Income Fund
4.9%
Enbridge
4.7%
Beijing Enterprises Holdings
4.6%
Centre Coast MLP & Infrastructure Fund
4.1%
China Longyuan Power Group
3.6%
Metro Pacific Investments
3.3%
OPG Power Ventures
3.2%
DP World
3.1%
Pennon Group
3.0%
National Grid
2.9%
EcoRodovias
2.7%
Pattern Energy Group
2.7%
Kunlun Energy
2.7%
TransAlta Renewables
2.6%
Jasmine Broadband Internet Infrastructure Fund
2.4%
Brookfield Renewable Energy Partners
2.2%


At close of business on 30 April 2019 the total net assets of Premier Global Infrastructure Trust PLC amounted to £51.98 million. The sector breakdown and geographical allocation were as follows:
Sector Breakdown
% of total net assets
Electricity
5.9%
Multi Utilities
18.3%
Ports
3.1%
Renewable Energy
30.5%
Telecoms infrastructure
2.8%
Water & Waste
19.7%
Toll roads
5.3%
Gas
12.8%
Cash/Net Current Assets
1.6%

100.0%


Geographical Allocation
% of total net assets
North America
24.6%
China
22.8%
Latin America
12.0%
United Kingdom
7.1%
Global
14.4%
India
3.2%
Europe (excluding UK)
4.0%
Asia (excluding China)
7.2%
Middle East
3.1%
Cash/Net Current Assets
1.6%

100.0%

[neilyb675] 01/5/2019 20:44

Added today. First quote went neg trade.

[jonwig] 29/3/2019 14:38

Research note:

[skinny] 02/10/2018 11:44

Net Asset Value

[aleman] 27/3/2018 11:16

I think a recession is starting (and not just in UK). SUS today reported a 60% jump in already large loan loss provisions on its subprime auto lending for 2017. I'd say that is a recessionary-sized increase and I very much doubt 2018 is looking any better so far.

[mister md] 27/3/2018 10:33

thanks for that Aleman. Assumed it was the gearing, also notice a major shareholder has been reducing stake over recent months

I will hold on to these for the longer term. Not convinced there will be a major further correction in (UK) market, and happy to collect dividends along the way

[aleman] 27/3/2018 10:22

Add in the zeroes and the discount is around 8%. Whilst high by recent standards, that is not high for the current market and will not be high if there is a downturn. Discounts can hit 20% or more in a recession. That would be about 45% on ordinaries at current NAV and would get probably get higher if fund value fell nearer NAV of the zeroes. This means ordinaries here are very high risk due to the high gearing which moves NAV up and down quicker and magnifies the discount that the market typically gives to investment trusts with less gearing. One should expect the ordinaries to have a high beta and be very volatile.

That's great in a rising market, where a shrinking discount and high gearing will add to NAV increases but what you are seeing is the reverse. A 10% fall in stockmarkets has seen a 30% fall in the ordinaries. Another 5-10% fall in the stockmarket might see the shares fall another 15-30%. After that, the double figure yield will start changing the way the ordinaries are viewed but the gearing will be even higher then. (It's conceivable you could end up with ordinaries NAV of 0p and share price of 20p or 30p in a recession as they are still worth a figure for prospective yield.)

If markets rise again these will bounce hard but the economy is stuttering - globally as well as in the UK. (See H&M Q2 numbers out today - sales down in Europe, China and a bit in US) This one is a bit of a rollercoaster thanks to gearing. It's just been oddly calm for several months as it happens.

[getscenic] 15/12/2017 13:41

sorry Guys, just added the news for the Nav's etc