I like it, I prefer more consistent predictable yield. I was disappointed last February with the low dps, which was below FY18. It is also evident that they started to take more active positions; combined with fully franking and the claims that we target at least 5.5c in 2020, plus we have credits lasting for a few more years I can see some modest upside or at least support around $1.
I was also considering PL8, as my almost retired soul starts preparing for living off income in a few years. But I think the drawbacks of PL8 are that it invests mainly in large/mid caps and is trading to a respectable premium. Also, too focused on ASX stocks. CVF adds some extra diversification value, as I believe most income investors should already hold many of PL8's stocks in their portfolios already (I know I do).
I think PL8 is good value below their offer price ($1.10), but looks like it's not headed that way anytime soon); so I'll be a happy CVF buyer for now at $1.
CVF Price at posting:
99.5¢ Sentiment: Buy Disclosure: Held
