Shires Income PLC

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Daily prices as of 23 Jul 2021

Share Price 282.00p

Estimated NAV cum income 262.00p

Estimated NAV ex income .00p

Dividend Yield {dividendyield}%

Premium / (Discount) to NAV cum income -0.4%

Premium / (Discount) to NAV ex income 0.0%

Annual General Meeting (AGM) and Online Shareholder Presentation

Due to restrictions currently in place as a result of the ongoing Covid-19 pandemic, the Board decided to hold an interactive Online Shareholder Presentation in advance of the Trust's upcoming AGM on 7 July 2021. During the presentation, attendees received updates from the Chairman and Manager and a recording is available to watch below.

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Latest news

An update from our investment manager, Iain Pyle - 22 June 2021

May was a month where economic data continued to turn more positive, with unemployment starting to come down and growth picking up to high levels. It seems likely that we will see continued strong prints through this summer as activity returns, even if the full relaxation of restrictions has been delayed for another month. That should be positive for equities and for income investing: as companies’ cashflows normalise and they begin to pay down debt we should see improvements in dividends, and indeed forward forecasts for the benchmark have started to inflect higher.

With growth, however comes the risk of inflation and higher interest rates, which can have a negative impact on equity valuations. The recent statement by the US Federal Reserve that we should expect to see a rate rise within 2022 makes this very clear and other central banks are already pointing in the same direction. After a period of flat or declining rates this is a change we should be aware of. While equities may see base rate rises as a negative, we are really just looking at a gradual normalisation of economic policy. Furthermore, some sectors will benefit, most notably banks and we will look for stocks with sufficient quality and income characteristics that will be positively exposed.

Read our latest article discussing inflation

Listen to Iain's latest podcast

Access the Company's latest Regulatory News Service (RNS) announcements

Key literature

Latest Factsheet

Annual Report

Interim Report

Savings Plan/ISA Brochure

Latest QuotedData Research Note

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Key people

Iain Pyle

Investment Director

Iain has been an Investment Director in the UK Equities team for Aberdeen Standard Investments since 2015. He is the lead manager of Shires Income plc and is deputy manager for Murray Income Trust and Aberdeen Standard Equity Income Trust plc. Within his role, he manages the UK Equity High Income Fund and the Bothwell UK Equity Income Fund and has sector responsibility for oil & gas and banks.

Iain has been covering analyst for the pharmaceutical and healthcare sectors. He is also a member of the Pan-European fund management team. Prior to joining Standard Life Investments, Iain was a Vice President on the number one ranked European Oil & Gas research team at Sanford Bernstein from 2007. He also worked as a management consultant at PwC. Iain holds an MSc, Masters in Chemical Engineering, ACA, CFA and is a qualified accountant.

Charles Luke

Senior Investment Director

Charles Luke is a Senior Investment Director on the UK and European equities team having joined Aberdeen in 2000. Charles started his career at Framlington Investment Management in 1998, covering UK equities.

Charles graduated with a BA in Economics and Japanese Studies from Leeds University and an MSc in Business and Economic History from the London School of Economics.

Iain Pyle

Investment Director
Iain has been an Investment Director in the UK Equities team for Aberdeen Standard Investments since 2015. He is the lead manager of Shires Income plc and is deputy manager for Murray Income Trust and Aberdeen Standard Equity Income Trust plc. Within his role, he manages the UK Equity High Income Fund and the Bothwell UK Equity Income Fund and has sector responsibility for oil & gas and banks.

Iain has been covering analyst for the pharmaceutical and healthcare sectors. He is also a member of the Pan-European fund management team. Prior to joining Standard Life Investments, Iain was a Vice President on the number one ranked European Oil & Gas research team at Sanford Bernstein from 2007. He also worked as a management consultant at PwC. Iain holds an MSc, Masters in Chemical Engineering, ACA, CFA and is a qualified accountant.
Charles Luke

Senior Investment Director
Charles Luke is a Senior Investment Director on the UK and European equities team having joined Aberdeen in 2000. Charles started his career at Framlington Investment Management in 1998, covering UK equities.

Charles graduated with a BA in Economics and Japanese Studies from Leeds University and an MSc in Business and Economic History from the London School of Economics.

Robert Talbut

Chairman

Robert Talbut was formerly Chief Investment Officer of Royal London Asset Management and has over 30 years of financial services experience. He has represented the asset management industry through the chairmanship of both the ABI Investment Committee and the Asset Management Committee of the Investment Association. He has also been a member of the Audit & Assurance Council of the FRC and the FCAs Listing Authority Advisory Panel. He is Chairman of Schroder UK Mid Cap Fund plc and a non-executive director of Pacific Assets Trust plc and JPMorgan American Investment Trust PLC.

Robin Archibald

Non-Executive Director

Robin Archibald has a wide range of experience in advising and managing transactions in the UK closed-ended funds sector over his thirty five year career as a corporate financier including with Samuel Montagu, S G Warburg and Natwest Markets. He retired from Winterflood Investment Trusts in May 2014, where he was formerly Head of Corporate Finance and Broking. He is currently a non-executive director of Albion Technology & General VCT PLC, Ediston Property Investment Company PLC, Capital Gearing Trust PLC and Henderson European Focus Trust plc. He is Chairman of the Audit Committee.

Marian Glen

Non-Executive Director

Marian Glen is a non-executive director of Martin Currie Global Portfolio Trust Plc and The Medical and Dental Defence Union of Scotland. She was a non-executive director of Murray Income Trust Plc, Friends Life Group Limited and other companies in the Friends Life group of companies. She was formerly the General Counsel of AEGON UK and prior to that was a corporate partner and head of funds and financial services at Shepherd and Wedderburn.

Jane Pearce

Non-Executive Director

Jane Pearce is a Co-opted External Member of the Audit and Risk Committee of the University of St Andrews. She had an executive career as an Equity Analyst at leading investment banks and latterly was an Equity Strategist at Lehman Brothers and Nomura International. She is a Chartered Accountant and was a Member of the Governing Council of the Institute of Chartered Accountants of Scotland from 1999-2000.

Robert Talbut

Chairman
Robert Talbut was formerly Chief Investment Officer of Royal London Asset Management and has over 30 years of financial services experience. He has represented the asset management industry through the chairmanship of both the ABI Investment Committee and the Asset Management Committee of the Investment Association. He has also been a member of the Audit & Assurance Council of the FRC and the FCAs Listing Authority Advisory Panel. He is Chairman of Schroder UK Mid Cap Fund plc and a non-executive director of Pacific Assets Trust plc and JPMorgan American Investment Trust PLC.
Robin Archibald

Non-Executive Director
Robin Archibald has a wide range of experience in advising and managing transactions in the UK closed-ended funds sector over his thirty five year career as a corporate financier including with Samuel Montagu, S G Warburg and Natwest Markets. He retired from Winterflood Investment Trusts in May 2014, where he was formerly Head of Corporate Finance and Broking. He is currently a non-executive director of Albion Technology & General VCT PLC, Ediston Property Investment Company PLC, Capital Gearing Trust PLC and Henderson European Focus Trust plc. He is Chairman of the Audit Committee.
Marian Glen

Non-Executive Director
Marian Glen is a non-executive director of Martin Currie Global Portfolio Trust Plc and The Medical and Dental Defence Union of Scotland. She was a non-executive director of Murray Income Trust Plc, Friends Life Group Limited and other companies in the Friends Life group of companies. She was formerly the General Counsel of AEGON UK and prior to that was a corporate partner and head of funds and financial services at Shepherd and Wedderburn.
Jane Pearce

Non-Executive Director
Jane Pearce is a Co-opted External Member of the Audit and Risk Committee of the University of St Andrews. She had an executive career as an Equity Analyst at leading investment banks and latterly was an Equity Strategist at Lehman Brothers and Nomura International. She is a Chartered Accountant and was a Member of the Governing Council of the Institute of Chartered Accountants of Scotland from 1999-2000.

Trust details

Shires Income PLC

Registered Office:
Bow Bells House,
One Bread Street,
London
EC4M 9HH

Registered in England as an Investment Company Number 386561

Launch Date: March 1929

Risk Warning

Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.

Financial calendar

Year End	31 March
Accounts published	June
Annual General Meeting	July
Dividend Paid	January, April, July, October