Quick out of the blocks in 2019
With a cloud hanging over emerging markets, and adverse sentiment overriding strong micro-economic fundamentals, Premier Global Infrastructure Trust (PGIT) had a testing 2018. However, it has made an excellent start in 2019. In the first two months of the year, aided by the gearing provided by its zero dividend preference shares, PGIT has made 20.6% in NAV total return terms and 20.1% in share price total return terms. The MSCI World Utilities Index returned 3.1%. Earnings growth for the utilities sector has been solid, despite market volatility. Valuations are now modestly above their five-year averages, but markedly below their five-year highs, and there could be renewed interest as the economic cycle progresses and investors look for defensive exposure. PGIT continues to offer a strong yield, paid quarterly.
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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