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Premier Global Infrastructure Trust – Don’t stop me now

A much-improved 2019, helped by lower interest rate expectations, translated into 38.3% gains for Premier Global Infrastructure Trust (PGIT) ordinary shareholders. Before the covid-19 panic caused markets to stumble, PGIT was having a strong start to 2020 as well, with the shares hitting 147p on 21 February… Read more In unsettled markets, the predictable and […]

Edward Marten by Edward Marten
2020-03-11 12:13
in Prices and Markets
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A much-improved 2019, helped by lower interest rate expectations, translated into 38.3% gains for Premier Global Infrastructure Trust (PGIT) ordinary shareholders. Before the covid-19 panic caused markets to stumble, PGIT was having a strong start to 2020 as well, with the shares hitting 147p on 21 February… Read more

In unsettled markets, the predictable and reliable cash flows generated by utilities and infrastructure make them an attractive safe haven for investors. The predictable response from the US Federal Reserve to the selloff is another interest rate cut. Relatively speaking, PGIT could be in a good place. The manager remains enthused about the earnings and dividend growth prospects of the portfolio.

This is important, as 2020 is going to be a big year for PGIT. It faces its five-yearly continuation vote in May, and its zero dividend preference shares (ZDPs) mature at the end of November. Shareholders will ultimately have the final say but, for our two penn’orth, we’d like to see it continue.

Geared global utilities and infrastructure exposure

PGIT invests in equity and equity-related securities of companies operating in the utilities and infrastructure sectors, with the twin objectives of achieving high income and long-term capital growth from its portfolio. Its ZDPs provide a high level of gearing to its ordinary shares.

Read more

NB: Marten & Co was paid to produce this note on Premier Global Infrastructure Trust Plc and it is for information purposes only. It is not intended to encourage the
reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of
Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors categorised as
Retail Clients under the rules of the Financial Conduct Authority.

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