'Significant latent value'
​Helped by its significant zero dividend preference share borrowings, sterling depreciation and some notable successes within its portfolio, Premier Energy and Water Trust (PEW’s) NAV and share price have beaten the MSCI Utilities Index over the 12 months to the end of June 2017. The portfolio has a high allocation to higher growth, emerging markets (45.9% as at 30 June), attracted by the discount at which emerging market utilities trade relative to wider market averages (see page 3). The managers believe there are a number of holdings, particularly in China and India, which are markedly undervalued and that there is significant latent value within the portfolio. PEW also offers a strong 6.1% yield.
Premier Global Infrastructure Trust is an investment company. Co. invests principally in equity and equity related securities of companies operating primarily in the energy and water sectors, as well as other infrastructure investments.
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