Shires Income PLC

Looking for high-quality investments for a high, regular income

Daily prices as of 06 Jul 2022

Share Price 255.35p

Estimated NAV cum income 247.98p

Estimated NAV ex income 240.95p

Dividend Yield 5.7%

Premium / (Discount) to NAV cum income -2.4%

Premium / (Discount) to NAV ex income 0.4%

Source: Morningstar

About us

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Online presentation

Shires Income PLC held an online presentation on Wednesday 22 June 2022. This online event took the form of a short introduction from the Chairman, followed by a more detailed presentation from the portfolio manager, Iain Pyle. There was also an opportunity to ask questions on the annual report. A recording of the event is now available to watch on demand below. 

Watch now >

Latest news

An update from our investment manager, Iain Pyle - 26 May 2022

Continuing a volatile year for markets, May has started with a sharp sell-off. Unusually, there has been a co-ordinated fall across equity and bond markets, something rarely seen to this extent. Investors are facing the combination of rising inflation and interest rates (negative for bonds) and a declining outlook for economic growth (negative for equities). The recent Bank of England Monetary Policy Committee meeting pointed to a risk of stagflation in 2022 leading into recession in 2023 – a bleak outlook, even if it does seem a little too negative to us at this stage. Finding hiding places in this environment has been difficult. The year started with weakness in highly rated growth stocks, but with value sectors holding up well. In the last few weeks, share price falls have been much more widespread, with few areas of safety. So far commodities, and especially energy, have held up well. In this sector we have preferred names with hedged or contracted sales, giving a high degree of visibility on cashflows and income. Elsewhere, we see utilities, with inflation linked earnings, and telecoms as attractive areas of defensive exposure.

*This is third-party research. You will leave Shires Income’s website and enter Kepler’s to view.

Key people

Iain Pyle

Iain Pyle

Investment Director

Iain has been an Investment Director in the UK Equities team for abrdn 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 the company, 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

Charles Luke

Senior Investment Director

Charles Luke is a Senior Investment Director on the UK and European equities team having joined the company 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

    Iain Pyle

    Investment Director

    Iain has been an Investment Director in the UK Equities team for abrdn 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 the company, 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

    Charles Luke

    Senior Investment Director

    Charles Luke is a Senior Investment Director on the UK and European equities team having joined the company 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

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

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 Chairman of Albion Technology & General VCT PLC and a non-executive director of Ediston Property Investment Company PLC, Capital Gearing Trust PLC and Henderson European Focus Trust plc, and serves as audit committee chair on two of those other investment companies. He is Chairman of the Audit Committee.

Jane Pearce

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. She is also a non-executive director of Polar Capital Technology Trust plc.
Helen Sinclair

Helen Sinclair

Non-Executive Director

Helen Sinclair began her career in investment banking and spent nearly eight years at 3i plc focusing on management buy-outs and growth capital investments. She later co-founded Matrix Private Equity (which became Mobeus Equity Partners) in 2000 and subsequently became Managing Director of the company before moving to take on a number of non-executive director roles. She is Chairman of British Smaller Companies VCT plc and a non-executive director of WH Ireland Group plc, BlackRock Smaller Companies Trust plc and Octopus Future Generations VCT plc. 

  • Robert Talbut

    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

    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 Chairman of Albion Technology & General VCT PLC and a non-executive director of Ediston Property Investment Company PLC, Capital Gearing Trust PLC and Henderson European Focus Trust plc, and serves as audit committee chair on two of those other investment companies. He is Chairman of the Audit Committee.

  • Jane Pearce

    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. She is also a non-executive director of Polar Capital Technology Trust plc.
  • Helen Sinclair

    Helen Sinclair

    Non-Executive Director

    Helen Sinclair began her career in investment banking and spent nearly eight years at 3i plc focusing on management buy-outs and growth capital investments. She later co-founded Matrix Private Equity (which became Mobeus Equity Partners) in 2000 and subsequently became Managing Director of the company before moving to take on a number of non-executive director roles. She is Chairman of British Smaller Companies VCT plc and a non-executive director of WH Ireland Group plc, BlackRock Smaller Companies Trust plc and Octopus Future Generations VCT plc. 

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