Perpetual Income and Growth Investment Trust PLI

[eyeball08]

Is this Investment Trust in a similar position, or worse or better, than Edinburgh I T? It is on a similar highish discount and also managed by the same recently moved manager from Edinburgh I T. It originally came to my attention via the baskets of Luniversal. Similar high yield, similar poor capital maintenance recently. Held since early 2016 so will probably do nothing. Any strong views out there?
eyeball

[wydffa]

I have had this and invesco high income for many years, my concern is that PLI/invesco HI is 100% of my wife's small ISA and 10% of mine. I also hold 10% in other "value" ITs.
I have been pondering this for a year now but I am tempted to swap half of my wife's holding into a growthier fund or REIT, and perhaps cut my exposure a little.
We are both close to retirement with prospective defined benefit pensions of about £17k and £22k so not dependent on investments.

[scotia]

Is this Investment Trust in a similar position, or worse or better, than Edinburgh I T? It is on a similar highish discount and also managed by the same recently moved manager from Edinburgh I T. It originally came to my attention via the baskets of Luniversal. Similar high yield, similar poor capital maintenance recently. Held since early 2016 so will probably do nothing. Any strong views out there?
eyeball

On a 5 year total return of 3.88% it is certainly worse than Edinburgh IT (17.62%) - but both are woeful compared to a FTSE All share tracker (46%) or many UK Growth Funds - e.g. Lindsell Train UK equity has returned 83%
I understand the attraction of a high yield IT - its a one-stop solution for many persons who rely on such high dividends. But if they had just invested in a growth fund (or IT) and sold units as required to obtain the income, then they would have plenty of alternatives which, on past performance, would have been a substantially better choice. And if this selling of units had to be carried out outside a tax shelter, then its unlikely that the capital gains on sold units would exceed their tax free allowance, although a straight dividend from a high yield IT might exceed their tax free dividend allowance.
Of course all of this is based on past performance. Maybe growth shares will fall out of favour, and high yield shares will triumph. Who knows - but I suspect if I were a holder of the Perpetual or Edinburgh ITs my patience would now be exhausted.

[Longtermyieldman]

I wonder whether or when the manager might get binned. He's already had his marching orders from Edinburgh IT.