Interim Management Statement

RNS Number : 8094J

RCM Technology Trust PLC

07 April 2010

 



RCM Technology Trust PLC                                                         

Interim Management Statement

For the quarter ended 28 February 2010

This interim management statement relates to the quarter from 1 December 2009 to 28 February 2010 and contains information for that period unless otherwise stated. This statement is produced to provide information in accordance with the UK Listing Authority's Disclosure and Transparency Rules.

Investment policy and benchmark

The Company invests principally in the equity securities of quoted technology companies on a worldwide basis with the aim of achieving long-term capital growth.  The Company's benchmark is the Dow Jones World Technology Index (sterling total return).

Portfolio

Top ten holdings at 28 February 2010 and percentage of total gross assets:

	£		%
Microsoft		3,765,572	5.57
Amazon		3,212,339	4.75
Cisco		3,195,584	4.73
Oracle		2,832,370	4.19
Apple		2,701,565	4.00
Google		2,527,816	3.74
Riverbed Technology		2,358,300	3.49
Salesforce.com		2,099,696	3.11
Hewlett Packard		1,887,110	2.79
Intel Corp		1,491,473	2.21
Total gross assets		£67,563,428

Material events and transactions

During the period 137,000 Ordinary Shares were purchased for holding in treasury at a total cost of £341,645.

Since the period end a further 132,653 Ordinary Shares were purchased for holding in treasury at a total cost of £383,919.

The Annual General Meeting was held on 30 March 2009 and all resolutions put to shareholders were passed. Following the exercise of conversion rights by holders of Subscription Shares an application has been made for 44,814 Ordinary Shares to be listed for trading.

Financial Performance to 28 February 2009

			% change
	3m	6m		1yr	3yrs	5yrs
Share price	6.2	19.9		49.7	22.2	28.9
Net Asset Value	7.9	20.7		52.5	23.7	27.6
Benchmark*	10.6	17.5		59.1	27.2	50.7

* Dow Jones World Technology Index (sterling total return)

Source: Datastream

RCM were appointed as managers on 1 May 2007.

Financial position at 28 February and 31 March 2010

		28 February		31 March
Total gross assets		£67,563,428		72,454,526
Net assets		£67,263,158		72,191,333
Share price		264.50p		295.00p
Net asset value (undiluted)1		295.72p		319.24p
Net asset value (diluted) 1		290.01p		309.66p
Discount 2		10.6%		7.6%
Gearing		-4.7%		-2.7%

¹  Net asset values per ordinary share are calculated and announced daily.

² The discount is the difference between the share price and the NAV per share (undiluted) expressed as a percentage of the NAV per share.

Company Information

Launch date		1995
EPIC		RTT
Year end		30 November
Report and Accounts		Final posted February, half-yearly posted July
AGM		March
Price Information		Financial Times, The Daily Telegraph

Investor information

Further up to date information, including Net Asset Values and share prices, and the latest available factsheets and portfolio information, is provided on the Manager's website, which can be accessed via  www.rcmtechnologytrust.co.uk  or at www.rcm.com/investmenttrusts .  Investor services can be contacted on 020 7065 1407 and information can also be obtained from the Manager's helpline on 0800 317 573.

By order of the Board.

RCM Technology Trust PLC

155 Bishopsgate

London EC2M 3AD

7 April 2010

 

END

 

 

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