Shires Income is an investment trust which invests primarily in UK equities. The trust, however, is differentiated to most other UK income portfolios with a holding in preference shares, fixed income, and some overseas holdings. The preference shares in the portfolio have pulled back slightly, but they now yield consistently above 8% with the potential to increase in value as the interest rate cycle develops. Despite the economic backdrop, the trust's equity holdings have been resilient, and fund manager, Iain Pyle, highlights Melrose and HSBC as recent additions which have contributed to performance.

Recorded July 2023.

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