Interim Management Statement

RNS Number : 0600U

Edinburgh Dragon Trust plc

17 June 2009

 



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 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 March 2009 to 16 June 2009, 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 transactions and their impact on the Trust's financial position

Over the three month period to 31 May 2009 the Company's net asset value rose 31.7% on a total return basis compared to a rise of 36.4% in the MSCI AC Asia (ex Japan) Index. There were no buy-backs of shares for the period from 1 March 2009 to 16 June 2009.  

For latest NAV and share price information, please refer to the Trust's website, www.edinburghdragon.co.uk.

Ten largest equity holdings as at 31 May 2009

Holding	%
Swire Pacific 'B'	4.4
Jardine Strategic	4.3
Oversea-Chinese Banking Corp	4.2
Samsung Electronics pref	3.8
HDFC	3.7
China Mobile	3.5
PTT Exploration	3.4
Taiwan Semiconductor	3.4
CNOOC	3.2
City Developments	3.2
Total	37.1

Country allocation as at 31 May 2009

Country	Trust
Singapore	26.5
Hong Kong	20.6
India	15.2
China	8.4
South Korea	6.9
Taiwan	5.4
Thailand	5.3
Malaysia	4.7
Philippines	2.6
Indonesia	1.8
Sri Lanka	0.5
Cash	2.2
Total	100.0

Assets at 31 May 2009

Investments	£366.3m
Cash	£5.5m
Total gross assets*	£371.8m
No of shares in issue	230,954,375
Net asset value*	161.0p
Discount	5.0%

* excluding current year revenue

Cumulative performance (%)

	As at	3 months	6 months	1 year	3 years	5 years
	31/5/09
Share Price	153.0p	39.7	41.7	(0.9)	36.7	122.8
NAV	161.0p	31.7	32.1	(7.3)	36.3	103.7
MSCI AC Asia ex Japan		36.4	42.7	(10.8)	31.6	105.1

Discrete performance (%)

	31/5/09	31/5/08	31/5/07	31/5/06	31/5/05
Share Price	(0.9)	12.6	22.6	30.9	24.6
NAV	(7.3)	11.5	31.9	23.8	20.7
MSCI AC Asia ex Japan	(10.8)	12.8	30.7	25.8	23.9

Total Return; NAV to NAV, Net Income Reinvested, GBP

Source: Aberdeen Asset Managers Limited, Factset  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

 

END

 

 

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