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Gearing

Closed-end funds and OEICs
yieldhog
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Gearing

#28657

Postby yieldhog » February 3rd, 2017, 10:27 am

With rises in inflation and interest rates looming, I'm reviewing my portfolio of ITs to check the level of gearing. I'm also looking for new opportunities to invest some spare cash.
I've looked on Trustnet but many of the funds do not subscribe and hence I can't find the gearing information on that site.
Does anyone know of a site where I can find a table of gearing figures for all ITs?

One issue that has caught my eye is Redefine International (RDI). The company website mentions a LTV ratio of 40 - 50% but I'm not sure if this is a true reflection of the gearing of the whole company. The dividend looks quite well covered and they say they do not have any significant borrowing to renew until 2020. The dividend looks attractive but I'm wary of any highly geared company in the present environment.

mc2fool
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Re: Gearing

#28674

Postby mc2fool » February 3rd, 2017, 10:49 am

http://www.theaic.co.uk/aic/find-compar ... -companies

However, note that RDI is not an Investment Trust (IT) but a Real Estate Investment Trust (REIT) and so isn't listed on the AIC's website.

Yes, it's confusing :D

mc2fool
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Re: Gearing

#28678

Postby mc2fool » February 3rd, 2017, 11:08 am

P.S. The British Property Federation used to run a site called http://www.reita.org that closed down a while back and redirected to a set of pages on the BPF website, but I see it no longer does that and the pages it used to redirect to, http://www.bpf.org.uk/reits-and-property-companies, have been severely scaled back, although you may still find some useful info about REITs there.

Nocton
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Re: Gearing

#28965

Postby Nocton » February 4th, 2017, 2:20 pm

Surely if one invests in an IT then one is asking managers to mange your investment? So, for me at least, the level of gearing is something to be left to the managers. All that matters is the overall performance.


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