Replacement Interim Management Statement

RNS Number : 8334X

F&C Capital & Income Inv Tst PLC

13 February 2013

 



This replaces the announcement released earlier today, 13 February 2013 (RNS 8206X).  The earlier announcement contained minor typographical errors. All other information remains unchanged.

F&C Capital and Income Investment Trust PLC

Interim Management Statement

For the three month period to 31 December 2012

Objective

To secure long-term capital and income growth from a portfolio consisting mainly of FTSE All-Share companies.

Dividends

On 28 November 2012 in the announcement of the Audited Statement of Results for the year to 30 September 2012, the Directors declared a fourth interim dividend of 2.85 pence per share.  This was paid to shareholders on 31 December 2012.

The Board has declared a first interim dividend for 2013 of 2.15 pence per share payable on 28 March 2013 to shareholders on the register on 1 March 2013.

Performance summary

	At 31 December 2012	At 30 September 2012	% change
Net assets *	£198.8m	£195.1m	1.9
Net asset value ("NAV") per share *	226.24p	222.01p	1.9
FTSE All-Share Index - 3 month return	-	-	3.2
Share price	230.00p	225.50p	2.0
Premium to NAV per share	1.7%	1.6%	-
NAV per share total return - 3 month return	-	-	3.2
FTSE All-Share Index - 3 month total return	-	-	3.8
Net gearing	2%	1%	N/A

* Includes undistributed income

Three month review

Over the three months to 31 December, the Company's NAV per share total return was 3.2% slightly less than the 3.8% total return of its benchmark's, the FTSE All-Share Index.  The share price rose 2.0% as the premium of 1.6% at 30 September 2012 increased to a premium of 1.7% at 31 December 2012.

The Company's level of borrowing within its £20m committed facility was maintained at €10m during the quarter. Net gearing for the period was 2%.

No ordinary shares were issued from the Company's general blocklisting authority during this period.  Since the period end the Company has issued 300,000 shares.

The Company did not purchase any of its own shares in the three months to 31 December 2012. 

The Board is not aware of any significant events or transactions which have occurred between 31 December 2012 and the date of publication of this statement which would have a material impact on the financial position of the Company.

Ten largest holdings

At 31 December 2012	At 30 September 2012	Company	Percentage of total investments at   31 December 2012
1	2	Royal Dutch Shell	6.8
2	3	GlaxoSmithKline	4.5
3	6	HSBC	4.5
4	4	BP	4.4
5	5	British American Tobacco	4.3
6	1	Vodafone	4.2
7	7	Scottish & Southern Energy	3.7
8	8	Rio Tinto	3.5
9	9	AstraZeneca	2.4
10	-	Standard Chartered	2.3
		Total	40.6

Investment portfolio by sector

	Percentage of total investments at 31 December 2012	Percentage of total  investments at 30 September 2012
Financials	21.0	19.5
Oil & gas	15.3	14.2
Utilities	6.7	6.8
Telecommunications	6.6	9.1
Consumer goods	10.3	10.0
Health care	7.5	7.9
Consumer services	8.0	8.3
Industrials	13.6	13.4
Basic materials	7.1	6.5
Technology	1.4	1.4
Convertibles	2.5	2.9

Daily and key information

Further information regarding the Company, including monthly factsheets and daily NAVs published since the end of the period, can be found on the internet at www.fandccit.com

Disclaimer

This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

By order of the Board

F&C Management Limited, Secretary

13 February 2013

 

END

 

 

IMSTJMFTMBIBBTJ