The Edinburgh Investment Trust plc
Interim Management Statement
for the Three Months ended 30 June 2013
Material Events
Victoria Hastings and Glen Suarez were appointed Directors of the Company with
effect from 23 May and 24 May 2013, respectively.
Dividends
During the period the Company declared a third interim dividend in respect of
the year ended 31 March 2013 of 5 pence per ordinary share. This was paid on 23
May 2013 to shareholders on the Company's register on 3 May 2013.
The Company's proposed final dividend of 7.8 pence per share was approved by
shareholders today. The dividend will be paid on 31 July 2013 to shareholders
on the Company's register on 14 June 2013.
Performance - Total Return
3 Months 1 Year 3 Years 5 Years
Share Price 1.0% 20.6% 69.2% 92.6%
Net Asset Value (at par) 2.1% 21.5% 67.1% 63.3%
FTSE All-Share Index -1.7% 17.9% 43.5% 38.2%
Source: Thomson Reuters Datastream
Share Price and Discount
For the Three Months Ended 30 Jun 2013
As at 30 Jun 2013 High Low Average
Share price (pence) 565.00 599.00 548.00 578.04
Discount 1.6%
(debt at par)
Premium 1.9%
(debt at fair value)
Source: Thomson Reuters Datastream
Assets and Gearing
30 Jun 2013
Total Gross Assets (£m) 1,318.5
of which cash funds and -
cash (£m)
Borrowings at par (£m) 197.7
Cum income net asset 574.5
Value - debt at par (pence)
Gross Gearing 17.8%
Gross Gearing reflects the amount of gross borrowings in use by a company and
takes no account of any cash balances. It is based on gross borrowings as a
percentage of shareholders' funds.
The Company's debt remains unchanged and is provided by long term debentures
totalling £200 million:
£100,000,000 11.5% debenture stock 2014
£100,000,000 7.75% debenture stock 2022
Sector Breakdown of Portfolio (excluding cash)
30 Jun 2013
Healthcare 33.3%
Consumer Goods 24.3%
Industrials 18.9%
Utilities 7.9%
Telecommunications 7.3%
Financials 6.8%
Consumer Services 1.5%
Basic Materials 0.0%
Oil & Gas 0.0%
Top Ten Holdings
Investments %
of Portfolio
1 GlaxoSmithKline 9.6%
2 AstraZeneca 8.6%
3 BT 7.2%
4 British American Tobacco 6.6%
5 Roche - Swiss common stock 6.2%
6 Imperial Tobacco 5.1%
7 BAE Systems 4.8%
8 Reynolds American - US common stock 4.8%
9 Reckitt Benckiser 4.8%
10 Capita 4.3%
All ordinary shares unless otherwise stated
Changes to Share Capital
Ordinary shares of 25p each
Issued Treasury
At 31 March 2013 195,116,734 0
Shares bought back 0 0
Shares issued 0 0
At 30 June 2013 195,116,734 0
The Company has authority to buy back shares within specified limits. The
Company expects to renew this authority each year.
Price and Performance
The Company's ordinary shares are listed on the London Stock Exchange and the
price is published in the Financial Times and the Times under `Investment
Companies', in the Daily Telegraph under `Investment Trusts' and in The
Scotsman.
The Company's net asset value is calculated on a daily basis and can be viewed
on the London Stock Exchange website at www.londonstockexchange.com.
Further information can be obtained from Invesco Perpetual as follows:
Free Investor Helpline: 0800 085 8677
Internet address: www.invescoperpetual.co.uk/investmenttrusts
The information provided in this statement should not be considered as a
financial promotion.
Interim management statements are expected to be published in January and July
each year.
For and on behalf of
Invesco Asset Management Limited
19 July 2013
Registered Office: Administrative Office:
Quartermile One 30 Finsbury Square
15 Lauriston Place London EC2A 1AG
Edinburgh EH3 9EP Telephone: 020 7065 4000
Registered in Scotland No 1836 Facsimile: 020 7065 3166
An Investment Company under Section 833 of the Companies Act 2006
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