Premier Global Infrastructure Trust 25 April 2019 Annual General - - PowerPoint PPT Presentation
Premier Global Infrastructure Trust 25 April 2019 Annual General Meeting Past performance is not a guide to future returns. The value of shares and the income produced by them, can go down as well as up, especially over the short-term. There is
Past performance is not a guide to future returns. The value of shares and the income produced by them, can go down as well as up, especially over the short-term. There is always the chance that you will not get back your original investment.
PREMIER GLOBAL INFRASTRUCTURE TRUST 1
y Management Team/Board
y Board refreshment completed in the year y Emphasis on investment selection, geographic allocation and shareholder communications continues
y Trust structure and income
y Dividend increased to 10.2p from last year's 10.0p y Dividend re-profiled for more even payment profile y EPS down largely due to one off factors
y Performance
y Difficult year for Emerging Markets y Markets driven by macro factors, business performance secondary y Underlying performance of investee companies very strong y Currency hedging meant that weak GBP not translated into NAV
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0p 20p 40p 60p 80p 100p 120p 140p 160p 180p Opening NAV 165.07p Net revenue 10.33p Loss on currency hedging (13.92p) Losses on investments (28.93p) Capital costs (1.26p) ZDP finance costs (6.94p) Opening NAV plus performance 124.35p Dividends xd in year (11.80p) Closing NAV 112.55p
Data from Premier Global Infrastructure Trust 2018 Report and Accounts
PREMIER GLOBAL INFRASTRUCTURE TRUST 3
Data from Premier Global Infrastructure Trust/Premier Energy and Water Trust Report and Accounts and Bloomberg. *31.05.2012 - 31.03.2019.
(40%) (20%) 0% 20% 40% 60% 80% 100% 120% 2013 2014 2015 2016 2017 2018 3 months to 31 March 2019 Since change
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Data from Premier Global Infrastructure Trust 2018 Report and Accounts. *Includes additional dividends of 3.0p.
5.0p 6.0p 7.0p 8.0p 9.0p 10.0p 11.0p 12.0p 13.0p 14.0p 2014* 2015* 2016 2017 2018 Dividends Additional dividends
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Data from Premier Global Infrastructure Trust/Premier Energy and Water Trust Report and Accounts.
0% 5% 10% 15% 20% 25% 30% 35% North America China United Kingdom Latin America Global Asia (excluding China) India Middle East Europe (excluding UK) Eastern Europe 2018 2017
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Source Bloomberg, Share price data to 31.12.18 in local currency. Annual reports, net income movement local currency. Excludes OPG (loss making in prior year), Omega Geracao (not a full year trading in 2017)
(40%) (30%) (20%) (10%) 0% 10% 20% 30% 40% 50% 2018 EPS 2018 share price
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Source: Bloomberg.* FTSE Global Core Infrastructure 50/50 Index.
10.8x 13.4x 18.7x 20.5x 0.0x 5.0x 10.0x 15.0x 20.0x 25.0x PGIT December 2018 PGIT December 2017 Infrastructure Index* December 2018 Infrastructure Index* December 2017
18.9% cheaper 8.8% cheaper
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James Smith | Senior Investment Manager 01483 400431 jamessmith@premierfunds.co.uk Claire Long | Senior Investment Manager 01483 400463 clairelong@premierfunds.co.uk
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Votes for/discretion Votes against Votes witheld Resolution Shares % Shares % Shares 1 2,347,984 99.97 707 0.03 2 2,323,397 99.03 22,829 0.97 2,465 3 1,952,902 99.85 3,022 0.15 392,767 4 2,346,730 99.92 1,914 0.08 47 5 2,346,690 99.92 1,954 0.08 47 6 2,342,086 99.79 4,997 0.21 1,608 7 2,334,812 99.87 3,022 0.13 10,857 8 1,759,842 75.44 572,992 24.56 15,857 9 1,777,527 77.24 523,691 22.76 47,473 10 2,300.412 99.92 1,914 0.08 46,365
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Risk of investments
This presentation is not a prospectus/listing particulars and material contained in this presentation does not constitute an offer or recommendation to buy or sell an investment. No representations or warranties, express or implied, are made by Premier Fund Managers
in this presentation and no reliance must be placed on it in relation to any share issue in the companies to which this presentation relates or for any other purpose whatsoever. All information is sourced to Premier unless otherwise stated. The information has been taken from sources we believe to be reliable though this is not guaranteed, and the information stated, opinions expressed and estimates given constitute best judgement at the time of publication and are subject to change without notice. Past performance is not a guide to future returns. The value of shares and the income produced by them, can go down as well as up, especially over the short-term. There is always the chance that you will not get back your original investment. Reference to any particular stock does not constitute a recommendation to buy or sell the stock. Persons who do not have professional experience in matters relating to investments should not rely on the content of this
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