Seneca Global Income & Growth Trust - Further reductions in equity exposure
Seneca Global Income & Growth Trust (SIGT) is a multi-asset, value investor, aiming to generate an average total return of at least CPI +6% pa (with low volatility) over the course of a typical investment cycle, while growing its dividend in real terms. In anticipation of a global recession in 2021, preceded in 2020 by pronounced stock market weakness, SIGT’s managers are continuing to reduce the trust’s equity exposure. Two new investments have recently been in specialist assets, a heterogeneous asset class, which diversifies the trust’s revenue stream and offers the potential for enhanced total returns and lower portfolio volatility. SIGT has a progressive dividend policy; its annual distribution has compounded by c 4% pa over the last five years, and the trust currently offers a prospective dividend yield of 3.9%.Seneca Global Income & Growth Trust is an investment trust company. Co. invests in a diversified portfolio principally comprising U.K. and overseas equities, fixed income, property and other specialist assets. Co.'s investment manager is Seneca Investment Managers Limited. The valuation of the investment portfolio as at Apr 30 2017 was £72.9 million consisting of listed and unquoted investments.
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