Premier Miton Global Renewables Trust (LSE: PMGR)

Last close As at 18/03/2024

GBP0.96

−0.50 (−0.52%)

Market capitalisation

GBP18m

Premier Miton Global Renewables Trust’s investment objectives are to achieve high income and realise long-term growth in the capital value of its portfolio. It seeks to achieve these by investing principally in the equity and equity-related securities of companies operating primarily in the renewable energy sectors and other sustainable infrastructure investments. The trust is structurally geared via zero dividend preference shares maturing in 2025.

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Equity Analyst

Andrew Keen

MD - Head of Content, Energy & Resources, Industrials

Key Management

  • Claire Long

    Head of Investment Trusts

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (6.1) (15.3) (30.4)
Relative (6.4) (16.4) (33.9)
52 week high/low 145.5p/93.0p

Overview

Renewable energy investment trusts are out of fashion at present and, in our view, this represents an opportunity for investors. Premier Miton Global Renewables Trusts (PMGR), like all its peers, is now trading at a discount to NAV (14.3%) as its performance has been affected by the underperformance of many of its key public holdings. In our view, short-term energy price weakness and questions over the policy environment are missing the longer-term shift in competitiveness and energy security that consumers are seeking from renewables. We believe the current state of the market presents an attractive entry point for investors.

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