23 Mar 2017 12:28
Edison Investment Research Limited / Key word(s): Research Update Edison Investment Research Limited: Edison issues review on Seneca Global Income & Growth Trust (SIGT) 23-March-2017 / 13:28 GMT/BST London, UK, 23 March 2017 Edison issues review on Seneca Global Income & Growth Trust (SIGT) Seneca Global Income & Growth Trust (SIGT) aims to generate income and long-term capital growth across multiple asset classes with low volatility. The trust adopts a long-term strategic asset allocation to equities (60%, split 35% to UK and 25% to overseas - with modest US exposure), fixed income (15%) and specialist assets (25%, generally yielding 5-8%). Shorter-term tactical asset allocations are made with a view to enhancing portfolio returns. For UK equity exposure, SIGT focuses on mid-cap companies, which over time tend to outperform the broader market. SIGT retains zero exposure to developed market government bonds, which the manager considers expensive. Following the change in mandate in 2012, SIGT's NAV total return has outperformed the FTSE All-Share index, with significantly lower volatility; while dividends and reserves have grown every year. SIGT's shares are currently trading at a 0.7% premium to cum-income NAV, this compares to the 0.4% average discount of the last 12 months (range of a 3.3% premium to a 5.6% discount), and the discounts of the last three, five and 10 years (range of 2.5% to 6.9%). Since the change in mandate in 2012, SIGT has regularly increased its annual dividend; its prospective yield is 3.6%, which compares favourably to its peers in the AIC Flexible Investment sector.Click here to view the full report. All reports published by Edison are available to download free of charge from its websitewww.edisoninvestmentresearch.com About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. Contact details: Learn more at www.edisongroup.com and connect with Edison on:
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