Like Edinburgh Investment Trust (another of our investment trust dividend heroes), Perpetual Income & Growth is also under the wing of Invesco Perpetual but a different manager, Mark Barnett. Its dividend yield is 4.0 per cent. Unlike the Edinburgh Investment Trust, it has a small exposure to international equities.
Mr Barnett started putting the trust on a more defensive footing as far back as the last quarter of 2006.
The portfolio has become more concentrated over time, with the emphasis on defensive sectors such as telecommunications, energy, big pharma and tobacco. The only financial stocks on the portfolio are Hiscox and Provident Financial.
Mr Barnett says: "Companies that can maintain their dividends over the next two years will attract a premium."
"We've placed particular importance on identifying companies with strong balance sheets and good capital positions. Sound financing is absolutely crucial in the current atmosphere, and while there's been recent focus on the corporate bond market, only a fairly narrow band of companies could hope to raise capital in this manner because investors have become far more discerning."
PERPETUAL INCOME & GROWTH | |||
---|---|---|---|
PRICE | 202 | NAV | 195.94 |
SIZE OF FUND | £496m | PRICE DISCOUNT TO NAV | 2.33 |
No OF HOLDINGS: | 47 | 1 YEAR SHARE PERFORMANCE | -15 |
SET UP DATE | 21 Mar 96 | 3 YEAR SHARE PERFORMANCE | -3.6 |
MANAGER START DATE | 30 Dec 05 | 5 YEAR SHARE PERFORMANCE | 47.4 |
TURNOVER | na | TOTAL EXPENSE RATIO | 1.92% |
VOLATILITY | na | YIELD | 3.99 |
TRACKING ERROR | na | MORE DETAILS | invescoperpetual.co.uk |
3 YEAR SHARPE RATIO | -0.71 |
TOP TEN HOLDINGS | % |
---|---|
Imperial Tobacco | 5.9 |
British Energy | 5.2 |
BG | 5 |
AstraZeneca | 5 |
BP | 4.9 |
GlaxoSmithKline | 4.9 |
Vodafone | 4.9 |
British American Tobacco | 4.8 |
Reynolds American (US Common Stock) | 4.8 |
Tesco | 4.2 |
SECTOR BREAKDOWN | Sector |
---|---|
Utilities | 17.9 |
Consumer Goods | 17.7 |
Oil & Gas | 15.5 |
Healthcare | 12.7 |
Consumer Services | 10.3 |
Telecommunications | 8.4 |
Financials | 7.7 |
Industrials | 7.3 |
Technology | 2 |
Basic Materials | 0.5 |
Source: Fact Sheet, Morningstar & Datastream