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Picton Property Income (PCTN)
AIC sector: Property Direct – UK
Objective: To provide shareholders with an attractive level of income together with the potential for capital growth, by principally investing in commercial property sectors.
Ongoing charge: 2.47%
Yield: 4.1%
Picton Property Income’s portfolio consists of 58 assets invested across the main commercial property sectors: Office, Industrial, Retail, Retail Warehouse and Leisure. The portfolio is predominantly invested in the office and industrial sectors and is biased towards London and the South East.
Under chief executive Michael Morris, the team has generated Picton’s outperformance by actively managing its assets, thereby enabling it to raise rents, cut costs and reduce voids.
Picton Property Income invests in assets where it believes there are opportunities to enhance either income or value, and this is primarily achieved by providing space that meets occupiers’ requirements.
The portfolio has around 350 occupiers providing a diversified income stream from a wide range of businesses. The majority of this income is paid out to investors in the form of quarterly dividends.
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