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Premier Global Infrastructure : PGIT

Premier Global Infrastructure (formerly Premier Energy and Water, PEW) aims to achieve a high income and to realise long-term growth in the capital value of its portfolio. It invests principally in equity and equity-related securities of companies operating in the energy and water sectors, as well as other infrastructure investments and invests in both developed and emerging markets to capitalise on the opportunities in the utility markets.

We have written a number of  sponsored research note on the fund that describe, in some detail, how it is managed

  • Swings and roundabouts“, published in May 2018, notes that valuations look more attractive in the sector
  • Evolution, not revolution“, from November 2017, describes the changes that the fund has made to its investment emphasis as it changes its name
  • Significant latent value” from July 2017 – the managers believe there are a number of holdings, particularly in China and India, which are markedly undervalued
  • “A Brexit beneficiary” in September 2016 highlighted the benefit of sterling weakness on PEW’s performance
  • “It’s a £24m rollover!” from February 2016 looked at the impact of the replacement of the old zero dividend preference share issue with a new one on the Trust
  • “3 years later, in a new league” from July 2015 is our annual review of the Trust. It looks at the Trust’s performance since James Smith Joined the management team in June 2012 and explores some of the themes currently present in the portfolio
  • “Value in emerging markets” from February 2015 looks at the Trust’s performance over 2014 as a whole and the value that the manager perceives in the company’s emerging market investments –
  • Solid interims and plans for the future” from August 2014 looks at the Trust’s performance over the first half of 2014 and the Board’s proposals to restructure the fund to keep it going beyond 2015
  • A step change in performance” from June 2014 looks at how the Trust’s performance had improved since the new manager was appointed in summer 2012

Premier Global Infrastructure has both ordinary shares and zero dividend preference shares and this means it is classified as a split capital trust.

You can access the manager’s website here

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