Shires Income Share Chat (SHRS)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Shires Income	LSE:SHRS	London	Ordinary Share	GB0008052507	ORD 50P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+1.00p	+0.37%	270.50p	268.00p	273.00p	-	-	-	51,042	16:35:12

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Equity Investment Instruments	0.0	3.9	13.1	20.7	81.14

Shires Income Share Discussion Threads

Showing 401 to 424 of 425 messages

Chat Pages: 17 16 15 14 13 12 11 10 9 8 7 6 Older

Date	Subject	Author	Discuss
28/3/2018 20:53	Bought some back today, well under NAV atm. Pref shares largely recovered.	essentialinvestor	Read Full Thread Reply
26/3/2018 15:22	LOL, thanks topvest, though today's "great Price" often looks like a " bought way too soon" price in a few week's time! Time will tell......	cwa1	Read Full Thread Reply
26/3/2018 14:48	I've added some as well, but not at your great price of 242p!	topvest	Read Full Thread Reply
23/3/2018 10:51	FWIW LG, I took a handful at 242 earlier, respectably inside the spread at the time. No problem getting them at that point. Agreed that the wider market malaise will probably go some way to cancelling out any "pref bump" though!	cwa1	Read Full Thread Reply
23/3/2018 10:45	Yes, that's what I was looking at, CWA1. Could have been a smart way to play it. Problem is that any advance due to the re-rating of prefs has been wiped out by the general market decline. Can't even get a quote at 244p. Haven't got L2, so I can't see what the market is looking like.	lord gnome	Read Full Thread Reply
23/3/2018 09:44	Possible bounce in NAVs now that Aviva have caved on prefs issue?	cwa1	Read Full Thread Reply
12/3/2018 15:23	Big NAV fall thanks to prefs - they must average it? Was expecting that sort of figure in Friday's RNS. ELLA's bounced at least - not so much the others. Can't seem to short SHRS anywhere for lack of borrow.	spectoacc	Read Full Thread Reply
09/3/2018 20:27	8/3/2018 NAV Shires Income Trust PLC with Debt at Fair Value Including Income 274.42p	davebowler	Read Full Thread Reply
02/1/2018 16:58	Not a holder but it's probably up due to today's 0.08% rise in the 30-year gilt yield, which might be interpreted as good for banks and financials. However, the 2-year yield rose 0.06%, so the yield curve only steepened marginally and still indicates likely sluggish growth. I presume it is strong PMIs from many countries today, especially in Europe, that pushed bond yields up.	aleman	Read Full Thread Reply
02/1/2018 16:36	Hi LG, Could it be Merger of SL and Aberdeen, people might be expecting the fund range to be simplified?	mozy123	Read Full Thread Reply
02/1/2018 16:11	On a bit of a tare today. Nice to see it, but I wonder what has caused it. Discount to NAV is evaporating rapidly.	lord gnome	Read Full Thread Reply
19/12/2017 13:12	18 Dec NAV Shires Income Trust PLC with Debt at Fair Value Including Income 289.40p	davebowler	Read Full Thread Reply
27/11/2017 15:32	HTtp://www.aberdeen-asset.co/static_files/documents/99611565-05a2-49cd-8690-a10fb35a5d38/10/52309-cd-121030591_shires.pdf	davebowler	Read Full Thread Reply
03/10/2017 15:14	I sold mine yesterday.	rcturner2	Read Full Thread Reply
03/10/2017 14:26	2 Oct NAV Shires Income Trust Including Income 284.82p Ordinary	davebowler	Read Full Thread Reply
15/9/2017 15:57	When will next dividend be announced?	ditchsid	Read Full Thread Reply
11/9/2017 15:00	ASCI is worth a look.	davebowler	Read Full Thread Reply
02/9/2017 07:44	Doubt it! But I certainly sold too early. I still like it - I just think the market's due a reversal soon (as everyone else does - hence we're probably going to ftse 10,000) :)	spectoacc	Read Full Thread Reply
01/9/2017 17:46	Looking rather toppy now. Discount has now narrowed to 2.7pc, div still good at 4.7pc. Channel resistance on a daily chart at 274p, on the weekly chart channel top is up at 290p. Could this go to a premium to par?	pilgrim	Read Full Thread Reply
21/8/2017 09:47	17 Aug Shires Income Trust PLC Undiluted Including Income 281.22p Ordinary	davebowler	Read Full Thread Reply
09/8/2017 10:18	Shires Income Trust PLC Undiluted Excluding Income 278.75p Ordinary Shires Income Trust PLC Undiluted Including Income 283.42p Ordinary	rcturner2	Read Full Thread Reply
09/8/2017 08:12	Out on the tighter discount. Holding had become too small, though hope to be back in in size at some point. Good luck holders.	spectoacc	Read Full Thread Reply
03/7/2017 20:57	Thanks for the update. I think this looks a very solid fund, and the preference shares and the asci holding (itself on a very wide discount) help it stand out from the rest of the crowd. Not too worried about the discount - if it narrows great, otherwise you're getting a very attractive but sustainable yield.	riverman77	Read Full Thread Reply
03/7/2017 14:50	Winterfloods; On 29 June Ed Beal (EB), manager of Shires Income, provided an update on the fund, which is summarised below. Ed Beal is a member of Aberdeen AssetManagement's 16-strong Pan-European equity team. Performance  Over the last five years the fund has delivered a NAV total return of 90%, significantly outperforming its benchmark, the FTSE All Share, which has delivered a total return of 65%. As can be seen in the table below, it has also outperformed over the last one and three years.  In its latest financial year to 31 March the fund paid a total dividend of 12.75p per share, representing a yield of 5.1% on the current share price. This dividend was fully covered by revenue of 13.08p. Portfolio & Manager's Outlook  The investment strategy is to invest primarily in equity securities alongside some higher yielding preference shares and a small option writing programme. The aim is to provide an above average yield from a diversified portfolio, with an emphasis on total return and the management of risk.  A portfolio of UK equities comprised 74% of the fund at 31 March, with 26% allocated to preference shares to enhance income. The team also write short dated call and put options, which are typically between 5% and 10% out of the money, as another way to enhance income. In the latest financial year options generated 5.5% of income, while 60% came from dividends and 34.5% came from preference share, fixed and bank interest. Within the equity portfolio, income is also diversified across sectors, with the largest contribution coming from Oil & Gas at only 14% of dividend income (estimated for FY 2018).  The preference shares are viewed as being more defensive than pure equities although the manager does not expect to see notable income or capital growth from this area of the portfolio. EB views gearing, currently equivalent to 20% of net assets, as being solely invested in the preference share portfolio, meaning that the fund is effectively ungeared into equities.  Up to 10% of the fund is now permitted to be invested in Europe, with the allocation currently standing at around 2.5% and holdings including Novo Nordisk. The manager notes that performance benefitted in the wake of the 'Brexit' vote due to the significant overseas earnings element.  EB believes that smaller companies are offering better growth opportunities at present. Small cap exposure is predominantly gained via the holding in Aberdeen Smaller Companies Income*, which the manager highlights provides diversification among smaller companies. New purchases over the last three years have had a mid and small cap bias, which EB notes have lower yields but greater potential for income growth. The smallest new addition is Manx Telecom (£200m market cap), the leading provider of telecommunications and broadband services on the Isle of Man.  While the team's outlook for the UK economy and stock market is not particularly optimistic, with political uncertainty, high valuations and a likely slowdown in dividend growth cited as key concerns, they highlight that the focus is on good quality companies that are able to perform well even in difficult market conditions. In addition, they are more positive from an income perspective where key advantages include: Sterling weakness; positive underlying earnings growth; and a reduction in the risk of dividend cuts amongst the biggest UK payers.  There is a significant emphasis on corporate governance and engagement with boards, with numerous meetings and AGMs attended each year. For example, the team met with Pearson's Remuneration Committee Chair in Q1 2017 to discuss a number of issues, including the restructuring programme and data issues. Murray Income  Charles Luke, the manager of Murray Income Trust, also provided an update. This fund has delivered a NAV total return of 63%, broadly in line with the benchmark. There is a 56% overlap between its portfolio and Shires Income's equity portfolio and six companies are in both of the funds' top ten holdings.  Key differentiating factors between the two funds are Shires Income's higher level of gearing (20% versus 2%) and preference share portfolio and Murray Income's higher international allocation (approximately 15% versus 2.5%). Winterflood View Shires Income has a good long-term performance record, with income from its relatively mainstream equity portfolio boosted by gearing, the preference share portfolio and option writing. The current dividend yield of 5.1% is notably higher than the UK Equity Income peer group weighted average of 3.4% and is supported by adjusted revenue reserves (14.9p) representing 1.2 years of the most recent full-year dividend. We view the preference share portfolio as a key differentiator from its peers and believe that the diversification of sources of income should help to allow the fund to maintain its attractive yield. However, its small size (£75m market cap) means that it is likely to be off the radar of many investors, which may partially explain its current discount level of 11%.	davebowler	Read Full Thread Reply

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