Strong income growth
Premier Global Infrastructure Trust’s (PGIT’s) ordinary shares have provided an NAV total return of 34.4% during the last 12 months, boosted by the trust’s split capital structure (see page 13). The returns have been achieved despite PGIT having a significant allocation to Asia, and particularly China, which has faced a headwind from its trade dispute with the US. While the share prices of Asian growth equities struggled, underlying performance was nonetheless strong. PGIT’s managers believe that there is the prospect for these stocks to re-rate when markets are less focused on the big picture and more on fundamentals of the individual companies.
After revenue growth of 13.3% in the first half of 2019, the manager expects to see decent growth in the second half, which bodes well for future dividends.
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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