Premier Miton Global Ren... Share Discussion Threads

[thrugelmir] 04/3/2024 17:11

Trust is split cap. Hence the gearing. EGL has leverage.

[mrscruff] 04/3/2024 16:33

I suppose they can justify the large fee because vs the small NAV because it is massively geared. It would be worth looking at gearing as it works both ways and if get back near 2-3% rates then this would be very strong. In the meantime EGL is a far more diversified trust with far less gearing.

[thrugelmir] 18/7/2023 22:05

Discounted discount. Very attractive.

[dickiehh] 18/7/2023 19:06

Shocking NAV performance this year

[thrugelmir] 04/6/2023 13:17

Started buying a short while back. Interesting longer term holding.

[whilstev] 26/4/2023 17:53

Nice to see a rise in the dividend confirmed as I was hoping.Looks good for full year of about 7.40 pence.

[whilstev] 06/4/2023 12:27

Many of the companies are increasing their dividends by the equivalent of the inflation rate so prospects for revenue increase is quite good. I am hoping for a rise to at least 7.25 pence this year which is a 5.4% yield. The ZDPs will be voted on in 2025 and as long as they reach their redemption yield value I would expect the vote will be to continue. I am obviously quite heavily invested here so I am living in hope that they can recover some of the lost value over the coming months.

[adae] 06/4/2023 11:33

Fair comment - double charges, but also double discount.

How do they repay the ZDP in 2025?

And I can't see much of a route to an increasing dividend. You can get nearly 5% in certain Treasuries.

[whilstev] 06/4/2023 11:28

Most of the companies it is invested in are themselves currently priced at a discount to their NAV so really the discount for PMGR is really higher than the current 20%. I think this is very generous. Only 3.1% is invested in China. I think if you want to take a position on the renewables sector then this is a good way of doing so. The gearing provided by the ZDP shares mean that if sentiment towards the underlying companies improves then performance of PMGR will accelerate.

[adae] 06/4/2023 10:49

Hargreaves Lansdown says ongoing charge 4.48%, I can't see where they get that from - possibly including the finance charge on the ZDP?

Annual Report says 1.7% - being £395k of management fee, and £482k of operating expenses. I have a problem with that, on a trust that simply invests in others, and has a market cap of all of £25m.

You're paying £877k a year on a £25m mkt cap IT in order for someone to stock pick for you, but they're picking many ITs that do themselves have charges, for example Greencoat, Next Energy, Foresight, Octopus.

Why not buy those yourself, and pay a single set of fees.

The other big problem is Drax being more than 6% of the trust. Burning woodchip is not renewable. At some point, regulation catches up.

A number of smaller China investments. China is not investable.

I don't see PMGR as cheap, the dividend isn't that high, the discount is reasonable but for a reason, and the overall size is tiny. I'd want a discount twice the current level.

[whilstev] 09/3/2023 16:38

Discount near 20%. Very disappointing, thought this would be a relatively safe area of the market to be in - got that wrong. Am holding long term now with yield over 5% and surely they will be able to increase this over the next couple of years to compensate me.

[aspringo] 09/3/2023 15:33

Taken leave of my senses, bought more at 1.36. I think I'm the only one.Good luck any holders left.

[aspringo] 01/3/2023 09:51

Agree with previous post, I'm up to 20k now. That was another 5k of mine today. Why it was a split deal at 145.3??Part.of my SIPP, so hopefully it all comes good with time. Same as JARA, SEQI etc.

[whilstev] 01/3/2023 09:31

PMGR has become a bit of a play on gilt yields slash interest rates so as the market worries about higher interest rates for longer the renewable sector is looking less attractive. We will have to wait for the balance between dividend yields and gilt yields to be more in our favour for PMGR to become more popular. Possibly later this year when interest rates will stop rising and maybe pressure for them to be cut again we will see PMGR become more fashionable. Hopefully a rise in the dividend this year will compensate while we wait. Long term I think this is a strong hold.

[dickiehhh] 28/2/2023 11:25

Anyone know why price continues to fall? Underlying holdings of renewables such as UKW doing fine

[whilstev] 11/11/2022 11:53

Signs of life ?

[novision] 06/4/2022 21:27

NAV up to 212p - 17% discount

[novision] 29/11/2021 13:31

a bit old (Aug 21) but interesting background on the changes which have gone on here.

hxxps://corporate-premiermiton.huguenots.co.uk/srp/lit/ND0kP6/Edison-Investment-Research_Premier-Miton-Global-Renewables-Trust-plc_13-09-2021.pdf

[mancman1] 21/9/2021 15:22

petewy

Are you expecting the dividend to be above the 7p mentioned in the interim report?

[petewy] 04/9/2021 15:07

It's been rising steady with a 5% divi(?)
Top ten
CHINA SUNTIEN GREEN ENERGY CORP LTD 7.00
2 DRAX GROUP PLC 5.50
3 CHINA EVERBRIGHT ENV GRP LTD 5.10
4 NATIONAL GRID 5.10
5 SSE PLC 4.90
6 NEXTENERGY SOLAR FUND 4.70
7 NEW ENERGY SOLAR 4.50
8 RWE AG(NEU) 4.50
9 GRESHAM HOUSE ENERGY STORAGE FD PLC 4.50
10 CHINA LONGYUAN POWER GROUP CORP LTD 4.20


Drax?????

[novision] 15/3/2021 16:40

Anybody know what's going on here? It's up and down like crazy recently.