Edinburgh Dragon Trust plc
12 December 2007
Edinburgh Dragon Trust plc - Interim management statement
To the members of Edinburgh Dragon Trust plc
This interim management statement has been produced solely to provide additional
information to shareholders as a body to meet the relevant requirements of the
UK Listing Authority's Disclosure and Transparency Rules. It should not be
relied upon by any other party or for any other purpose.
This interim management statement relates to the period from 1 September 2007 to
12 December 2007, and contains information that covers this period, up to the
date of publication of this interim management statement, unless otherwise
specified.
Investment objective
To achieve long term capital growth through investment in the Far East. The
Company's benchmark is the MSCI All Country Asia (ex Japan) Index. Investments
are made in stockmarkets in the region, with the exception of Japan and
Australasia, principally in large companies. When appropriate, the trust will
utilise gearing to maximise long term returns.
Benchmark
MSCI All Country Asia (ex Japan)
Material events and their impact on the Trust
On 31 October 2007, the Company announced its annual results for the year to 31
August 2007. On 12 December 2007 the Company held its Annual General Meeting at
which all resolutions were passed. The special business included resolutions to
allow the Company to issue shares (up to 5% of the issued share capital without
pre-emption) and to buy back shares (up to 14.99% of the issued share capital).
The Company's final dividend of 1.1p per Ordinary share will be paid on 14
December 2007 to shareholders on the register on 16 November 2007. The ex-date
was 14 November 2007.
Material transactions and their impact on the Trust's financial position
Over the three month period to 30 November 2007 the Company's net asset value
rose 10.2% on a total return basis compared to a rise of 11.4% in the MSCI AC
Asia (ex Japan) Index. The Company has bought back 2,120,000 shares for the
period from 1 September 2007 to 12 December 2007.
For latest NAV and share price information, please refer to the Trust's website,
www.edinburghdragon.co.uk.
Ten largest equity holdings
as at 30 November 2007
Holding %
Samsung Electronics pref 4.5
Swire Pacific 'B' 3.6
Oversea-Chinese Banking Corp 3.5
China Mobile 3.3
United Overseas Bank 3.1
Sun Hung Kai Properties 3.0
CNOOC 2.8
PTT Exploration and Production 2.8
HDFC 2.8
Shinsegae 2.8
Total 32.2
Country allocation
as at 30 November 2007
Country Trust
Singapore 22.8
Hong Kong 17.4
India 13.8
South Korea 11.9
China 8.0
Malaysia 7.2
Taiwan 6.4
Thailand 5.0
Philippines 2.3
Indonesia 1.6
Sri Lanka 0.8
Cash 2.8
Total 100.0
Assets at 30 November 2007
Investments £441.5m
Cash £12.0m
Total gross assets £453.5m
No of shares in issue 234,956,875
Net asset value 176.43p
Discount 11.5%
Cumulative performance (%)
as at 3 months 6 months 1 year 3 years 5 years
30/11/2007
Share Price 152.3 6.3 9.3 14.4 96.1 186.9
NAV 176.4 10.2 11.8 26.0 102.2 170.6
MSCI AC Asia ex Japan 11.4 21.5 40.7 122.7 185.7
Discrete performance (%)
30/11/2007 30/11/2006 30/11/2005 30/11/2004 30/11/2003
Share Price 14.4 19.5 43.4 4.3 40.2
NAV 26.0 18.2 35.7 2.1 31.0
MSCI AC Asia ex Japan 40.7 19.8 32.1 8.9 17.8
Total Return; NAV to NAV, Net Income Reinvested, GBP
Source: Aberdeen Asset Managers Limited, Factset, Financial Times and
Fundamental Data
Please note that past performance is not necessarily a guide to the future and
that the value of investments and the income from them may fall as well as rise
and may be affected by exchange rate movements. Investors may not get back the
amount they originally invested.
For Edinburgh Dragon Trust plc
Edinburgh Fund Managers plc, Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
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