Our Income Portfolio was drastically changed last year in response to the pandemic. Let’s assess how much good those changes have done us.
The biggest shake-up was in April, when we sold the five individual shares that had cut their dividends in response to the virus, or seemed likely to, and replaced them with five investment trusts.
In terms of missed opportunity for capital gains the changes were disastrous: the share prices of all five of the holdings sold have soared (Ten Entertainment by 14.4pc, ULS Technology by 82.7pc, Renew Holdings by 28.6pc, OneSavings Bank by 101pc and Crest Nicholson by 32.8pc).
Standard Life Investments Property Income Trust - Holding(s) in Company
PR Newswire
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer
and to the FCA in Microsoft Word format if possible)
i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached
ii
Standard Life Investments Property Income Trust Ltd
1b. Please indicate if the issuer is a non-UK issuer (please mark with an X if appropriate)
Non-UK issuer
An acquisition or disposal of voting rights
X
An event changing the breakdown of voting rights
Other (please specify)
iv
ASI could set an M&A trend in deal with investment trust specialist
‘An open-ended equivalent wouldn’t have been anywhere near as attractive’
A raft of liquidity mismatch problems faced by open-ended funds and the increasing popularity of real assets and alternatives could prompt more asset managers to follow in Aberdeen Standard Investments’ footsteps with its stake in investment trust specialist Tritax.
ASI said it wanted to “evolve” its property offering when it this month announced its acquisition of 60% of logistics specialist Tritax, best known to UK investors for its £3.7bn Tritax Big Box Reit and £549.6m Tritax Eurobox investment trust.