Interim Management Statement

RNS Number : 3868T

Brunner Investment Trust PLC

27 September 2010

 



The Brunner Investment Trust PLC                                                         

Interim Management Statement

For the quarter ended 31 August 2010

This interim management statement relates to the quarter from 1 June 2010 to 31 August 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 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 benchmark is: 50% FTSE All-Share and 50% FTSE World Index (ex UK, sterling).

Portfolio

Top ten holdings at 31 August 2010 and percentage of total gross assets:

	£	%
UK Government 4.25% Stock 2011	10,186,750	4.03
UK Government 2.5% Index-Linked 2020	8,134,181	3.22
UK Government 4% 2022	8,124,563	3.22
GlaxoSmithkline	8,083,704	3.20
Vodafone Group	6,724,308	2.66
HSBC	6,687,989	2.65
Royal Dutch Shell 'B'	6,009,353	2.38
BP	5,974,802	2.37
BG Group	4,928,097	1.95
Rio Tinto	4,226,079	1.67
Total Gross Assets	252,624,658

Material events and transactions in the period

No Ordinary Shares were purchased for cancellation during the period, therefore the number of Ordinary Shares in issue at both the beginning and end of the period was 46,047,805.

An interim dividend for the year ended 30 November 2010 of 4.8p per share was paid on 27 August to shareholders on the register on 30 July 2010.

The board has appointed Peter Maynard as a non-executive director with effect from 1 October 2010.

Material events and transactions since 31 August

No Ordinary Shares have been purchased for cancellation since the period end.

Financial Performance to 31 August 2010

			% change
	3m	6m		1yr	3yrs	5yrs
Share price	-2.6	-4.8		6.6	-12.4	26.5
Net Asset Value	-2.5	-4.4		8.0	-12.7	16.0
Benchmark*	-1.7	-1.7		9.9	-3.0	24.2

* 50% FTSE All-Share and 50% FTSE World Index (ex UK, sterling), total return since 25 March 2008; prior to that the benchmark was 60% FTSE All-Share and 40% FTSE World Index (ex UK, sterling).

Source: Datastream

Financial position at 31 August and 24 September 2010

	31 August		24 September
Total gross assets	£ 252,624,658		£267,405,787
Capital net assets	£ 198,453,360		£212,726,011
Total net assets	£ 199,450,480		£214,157,034
Share price	354.75		380.50
Capital net asset value1	430.97		461.97
Total net asset value (cum-income)	433.14		465.08
Discount 2	-18.1%		-18.4%
Net gearing 3	5.2%		5.7%

¹  Capital 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 expressed as a percentage of the NAV per share.

³  Net gearing is borrowings net of current assets and fixed interest securities.

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, www.brunner.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.

27 September 2010

 

END

 

 

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