PEW : Premier Energy and Water outperforms in H1

Premier Energy and Water outperforms in H1

Premier Energy and Water’s interims for the period ended 30 June 2014 that show the fund generating a total return ahead of the FTSE All-World Utilities Index (fund returned 12.6% vs. the index’s 12.4%) and well ahead of the FSE All-Share Index which returned 1.6%. Thanks to the gearing effect of Premier Energy & Water’s zero dividend preference shares, the net asset value of the ordinary shares rose by 20.6%. The discount widened slightly – the ordinary share price rose by 17.6% (a total return of 20.3% including dividends).

The dividends for the period have been increased by 21.8% to 5.3p from 4.35p.

They say the cover on the zero dividend preference shares rose to 1.55x from 1.42x.

The manager’s report says the best performing stock was OPG Power.



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