GCP Infrastructure Investments Regulatory News (GCP)

GCP Infrastructure - Update research from QuotedData

1st July 2021

Penalised for being conservative?

In recent months, despite its attractive dividend yield (6.9% at the time of publication), GCP Infrastructure (GCP)'s shares moved to trade on a small discount to its net asset value, which is unusual both for funds in the infrastructure sector (where GCP sits) and the renewable energy sector, which is a better match for the majority of GCP's portfolio. As the figures on page 18 show, even today, when GCP's shares have recovered to trade at a small premium to asset value, it remains one of the cheapest funds in both sectors.

We believe that some investors may have been unnerved by falls in GCP's net asset value (NAV). These falls relate to increased corporation tax rates and reductions in long-term power price estimates. These are factors that affect competing funds too, yet GCP's rating seems to have been disproportionately and perhaps unjustly affected.

Full research:

https://quoteddata.com/research/gcp-infrastructure-penalised-conservative/

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