Interim Management Statement

RNS Number : 5389E

Brunner Investment Trust PLC

29 September 2008

 



The Brunner Investment Trust PLC   

Interim Management Statement

For the quarter ended 31 August 2008

This interim management statement relates to the quarter from 1 June 2008 to 31 August 2008 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 objective and benchmark

The Trust aims to provide growth in capital value and dividends over the long term through investing in a portfolio of UK and international securities.

The current benchmark, since 25 March 2008, is: 50% FTSE All-Share and 50% FTSE World Index (ex UK, sterling).

Portfolio

Top ten holdings at 31 August 2008 and percentage of total gross assets:

	£	%
4% Treasury Stock 2009	19,899,500	6.66
Royal Dutch Shell 'B' Shares	7,993,862	2.67
BP	7,555,140	2.53
GlaxoSmithKline	7,284,246	2.44
Vodafone Group	6,676,095	2.23
HBOS	5,412,105	1.81
HSBC	5,378,634	1.80
BG Group	4,999,829	1.67
Xstrata	4,882,581	1.63
Rio Tinto	4,742,632	1.59
Total Gross Assets	£298,864,809

Material events and transactions

During the period  128,600 Ordinary Shares were purchased for cancellation at a total cost of

 £556,538.

An interim dividend for the year ended 30 November 2008 of 4.8p per share was paid on 27 August 2008 to shareholders on the register on 25 July 2008.

Cumulative Financial Performance to 31 August 2008

			% change
	3m	6m		1yr	3yrs		5yrs
Share price	-4.3	-0.6		-0.7	43.3		88.3
Net Asset Value	-4.3	0.9		-1.9	30.3		67.9
Benchmark*	-5.3	-0.3		-5.6	20.9		58.2

* Until 25 March this year, the benchmark was 60% FTSE All-Share and 40% FTSE World Index (ex UK, sterling) total return. Since then, it is 50% FTSE All-Share and 50% FTSE World Index (ex UK, sterling) total return.

Source: Datastream

Financial position at 31 August and 25 September 2008

		31 August		25 September
Total assets1		£298,444,409		£271,237,082
Net assets		£245,498,166		£218,290,839
Share price		432.50p		394.50p
Net asset value2		514.30p		455.91p
Discount3		15.9%		13.5%
Net gearing4		7.1%		8.3%

1  Total assets are stated net of current liabilities.

2  Capital net asset values are calculated and announced daily.

3  The discount is the difference between the share price and the NAV per share expressed as a percentage of the  
     NAV per share.

4  Net gearing is borrowings net of cash and fixed interest.

Company Information

Launch date		1927
EPIC		BUT
Year end		30 November
Report and Accounts		Final posted February, half-yearly posted July
AGM		March
Price Information		Financial Times, The Daily Telegraph, www.allianzgi.co.uk

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.brunner.co.uk  or www.allianzgi.co.uk .  Investor Services can be contacted on 020 7065 1407 and information can also be obtained from the Manager's helpline on 0800 317 573.

29 September 2008

 

END

 

 

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