WORLDWIDE HEALTHCARE TRUST PLC
Interim Management Statement - 3 months to 30 June 2011 (unaudited)
Worldwide Healthcare Trust PLC invests worldwide in pharmaceutical,
biotechnology and related companies in the healthcare sector with the objective
of achieving a high level of capital growth.
The three month period ended 30 June 2011 was a positive one for the Company
due in part to strong performance from large capitalisation pharmaceutical
stocks and the Company's Japanese generic drug pharmaceutical holdings,
together with the release of positive new product data. Over the three-month
period, the Company's net asset value total return was +9.9% and the share
price total return was +12.0%, compared to a rise of 8.1% in the Company's
benchmark, the MSCI World Health Care Index measured on a total return basis in
sterling terms. In the period from 30 June 2011 to 1 August 2011, Company's net
asset value total return was -4.1% and the share price total return was +1.3%,
compared to a fall of 4.4% in the Company's benchmark.
During the three month period and to the date of this report no shares were
repurchased by the Company. On 28 July 2011 the Company cancelled all of the
358,607 shares held in treasury.
Also, on 2 August 2011, a total of 354,240 new shares were issued, raising £
2.3m of additional funds for the Company, as a result of holders of
subscription shares exercising their subscription rights.
At the Company's Annual General Meeting, held on 7 July 2011, all of the
resolutions were passed.
The Company paid an increased interim dividend of 15.0p per share (2010: 8.5p
per share) on 30 June 2011.
Trust Characteristics
30 June 2011 31 March 2011
Number of holdings 69 60
Net assets (£m) 367.9 337.7
Net yield 2.0% 1.2%
Gearing (AIC basis) 116 114
Share price (p) 753.00 686.00
NAV (p) -undiluted 852.52 782.82
NAV (p) diluted: sub shares 818.36 759.71
NAV (p) - fully diluted for 817.90 759.20
sub shares and treasury
shares
Discount (undiluted) (11.7%) (12.4%)
Discount (diluted - sub (8.0%) (9.7%)
shares)
Discount (fully diluted) (7.9%) (9.6%)
Subscription share price 109.00 84.50
(p)
Source: Frostrow Capital LLP
10 Largest Investments
Name % of % of
portfolio portfolio
at 30 June 2011 at 31 March 2011
Pfizer 5.3 6.2
Novartis 5.2 4.6
Roche 4.9 6.0
Johnson & Johnson 4.1 4.0
Bristol-Myers Squibb 3.8 3.8
Mitsubishi Tanabe Pharma 3.8 4.0
Merck & Co. 3.4 3.5
Wellpoint 2.7 2.7
Allergen 2.7 2.6
Gilead Sciences 2.6 1.7
38.5 39.1
Source: Frostrow Capital LLP
Sector Analysis
% of % of
portfolio portfolio
at 30 June 2011 at 31 March 2011
Large capitalisation 64.9 67.2
Small capitalisation 35.1 32.8
Total 100.0 100.0
Source: Frostrow Capital LLP
Geographical Analysis
% of % of
portfolio portfolio
at 30 June 2011 at 31 March 2011
North America 67.2 63.5
Europe 19.6 21.6
Far East 12.6 13.8
Israel 0.6 1.1
Total 100.0 100.0
Source: Frostrow Capital LLP
Total Return Performance
3 Months 1 Year 3 Years 5 Years
Share price +12.0% +20.2% +76.2% +64.5%
NAV Fully +9.9% +20.7% +75.1% +74.4%
diluted
Benchmark* +8.1% +21.2% +58.3% +51.6%
Source: NAV (total return; fully diluted) and Share Price (total return)
Morningstar. Benchmark - Bloomberg and Thomson Reuters
* With effect from 1 October 2010, the performance of the Company is measured
against the MSCI World Health Care Index measured on a total return basis in
sterling terms. Prior to this date, performance was measured against the
Datastream World Pharmaceutical and Biotechnology Index on a total return basis
in sterling terms. Historic data, therefore, consists of a blended figure
containing both indices.
Past performance is not a guide to future performance.
This Interim Management Statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.
This Interim Management Statement is available on the Company's website
www.worldwidewh.com.
The Company's net asset value per share is announced daily and is available,
together with the share price, on the TrustNet website at www.trustnet.com
SEDOL Codes:
Shares - 0338530
Subscription Shares - B3VMCB0
ISIN -
Shares - GB0003385308
Subscription Shares - GB00B3VMCB07
For further information contact: Mark Pope on 0203 008 4913
Frostrow Capital LLP
Company Secretary
3 August 2011
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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