Shires Income PLC

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

Daily prices as of 20 Jan 2022

Share Price 277.89p

Estimated NAV cum income 289.09p

Estimated NAV ex income 285.48p

Dividend Yield 5.0%

Premium / (Discount) to NAV cum income -5.2%

Premium / (Discount) to NAV ex income -4.0%

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.

Latest news

An update from our investment manager, Iain Pyle - 8 December 2021

Those hoping for a nice quiet end to the year, myself included, will have been disappointed in recent weeks. The rapid spread of the Omicron variant of Covid-19 has caused another step backwards in market confidence and created a high degree of uncertainty. This is especially in the short term when rising cases over winter could have a meaningful impact on the economy. The combination of high transmission rates and the need for anyone contracting the virus to isolate for ten days means we could see severe labour shortages and very low productivity for a period of time. There could also be a spike in more serious complications, as even if severity is low the sheer number of cases will lead to more hospitalisations.

Despite that very real short term concern there are reasons to be more positive for longer term investors. Early data from South Africa suggests this variant is both more transmissive but also less severe, with much lower levels of hospitalisation than would be expected and relatively mild symptoms. For the virus to become endemic this is exactly what we need to see – a rapid increase in herd immunity and a mutation towards a less virulent strain which dominates infections. In that case, and especially if vaccines and treatments either current or modified, are effective, the market may finally be able to move on from the pandemic, or at least get used to living with it.

 

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 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

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

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

    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 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

    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

    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