12 Jun 2018 17:13
London, UK, 12 June 2018
Edison issues review on Standard Life Inv. Property Income Trust
Standard Life Investments Property Income Trust (SLI) is managed by Jason Baggaley. He aims to deliver an attractive level of income with the potential for income and capital growth from a diversified portfolio of UK commercial property. The manager notes that the industry is in a period of change, such as in the office sector, where tenants are demanding a higher level of service from their landlords. Baggaley says that SLI is embracing and benefiting from the changing environment, continuing to forge strong relationships with its tenants. He is cautiously optimistic about future returns from UK property and is building on his positive long-term performance track record. SLI's NAV total return has outperformed its IPD Monthly Index Funds (quarterly version) benchmark over the last one, three, five and 10 years. The trust offers an attractive 5.0% dividend yield.
SLI's current 6.8% premium to NAV is modestly lower than its average premiums over the last one, three and five years (range of 5.8% to 7.7%). The board issues shares aiming to limit the premium; so far in FY18, the share count has increased by 2.4%, raising gross proceeds of £8.9m.
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