Perpetual Income and Growth Investment Trust (PLI)

[ZipserSir]

Hello, have been away a while and got back to a pile of cash from Green King. I've decided that I want to rely less on direct share holdings through my HYP and would like to buy IT's instead. I already hold CTY, HCL, MYI, and SMT, and like PLI because it has a reliable yield history and is currently offering +4.5% and its objectives match my own "provide shareholders with capital growth and real growth in dividends over the medium to longer term".

I know and like the principle of holding ITs - any thoughts about PLI?

[jackdaww]

Hello, have been away a while and got back to a pile of cash from Green King. I've decided that I want to rely less on direct share holdings through my HYP and would like to buy IT's instead. I already hold CTY, HCL, MYI, and SMT, and like PLI because it has a reliable yield history and is currently offering +4.5% and its objectives match my own "provide shareholders with capital growth and real growth in dividends over the medium to longer term".

I know and like the principle of holding ITs - any thoughts about PLI?

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major holdings are --

bp bats legal rdsb btg imps hiscox roche bt novartis next burford .

you may already have many in your HYP already .

current discount around 10% .

[richfool]

Hello, have been away a while and got back to a pile of cash from Green King. I've decided that I want to rely less on direct share holdings through my HYP and would like to buy IT's instead. I already hold CTY, HCL, MYI, and SMT, and like PLI because it has a reliable yield history and is currently offering +4.5% and its objectives match my own "provide shareholders with capital growth and real growth in dividends over the medium to longer term".

I know and like the principle of holding ITs - any thoughts about PLI?

PLI will be fishing in the same pond as CTY (as the saying goes). There are also views about, that PLI manager Mike Barnett has somewhat lost his way, or is just suffering from adverse publicity around the fact that he previously worked with Neil Woodford. PLI's past performance over 1,3 & 5 years isn't great, but then CTY hasn't done so well over the last 1 & 3 years either (see tables below).

Assuming you have a reasonable size holding of CTY, why not look at an alternative sector, or add another trust in the Global G&I sector, one which has a different focus to MYI, - e.g. JPGI? Or add a trust from the Asia Pacific region, like JAI, AAIF or HFEL.

Disc: I hold JPGI & JAI and MYI.

https://citywire.co.uk/funds_insider/in ... ePeriod=12

https://www.hl.co.uk/shares/shares-sear ... st-ord-10p

https://citywire.co.uk/funds_insider/in ... ePeriod=12

https://www.hl.co.uk/shares/shares-sear ... plc-ord-5p

[johnstevens77]

I topped up only yesterday with half the proceeds from Greene King. The rest will probably go into a Japan trust but I haven't decided which one yet.

john

[Bluestone77]

A good tool to see geographical spread and holding overlap of ITs is the Morningstar X Ray tool. So you can see how different a new IT will be to you existing holdings:
http://tools.morningstar.co.uk/t92wz0sj ... geId=en-GB

[barchid]

Invesco Income Growth (IVI) is a sound fund investing in the UK space you were mentioning but has the great advantage of no connection (other than Invesco) with Barnett and his possibly uninspired recent investments.
It trades on a good 15% ish discount, yields about 4.4% and apart from the wide discount a reasonable NAV record.
I suspect this does trade at a large discount because the this sector tends to be out of favour at present but possibly because the name is so similar to Barnetts trust ?

[Arborbridge]

Just to complicate matters further...... look at Schroder Income Growth IT (SCF).
I've done quite well with this in my IT basket. It won't shoot the lights out, but it has returned a couple of percent more than PLI for me. The discount is around 8% which suggests more confidence than PLI. Yield of 4.4% and modest performance would be a good stand-in for what you might have had from Greene King in future.

Alternatively, there are plenty of good overseas ITs JMG, JEMI, HFEL etc etc.

Arb.