Interim Management Statement

RNS Number : 9744G

Edinburgh Worldwide Inv Trust PLC

10 February 2010

 

EDINBURGH WORLDWIDE INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 January 2010

Edinburgh Worldwide aims to achieve long term capital growth by investing in listed companies throughout the world. It tends to hold shares in around forty companies and income is not a consideration when selecting investments. 

Review of the period

·	Over the quarter, the Company's net asset value increased by 2.5% compared to an increase in the comparative index of 4.7% while the share price increased by 0.6%. All figures are total return.
·	The special dividend of 1.00p and final dividend of 1.50p per share were approved at the Annual General Meeting on 4 February 2010.
·	Over the period, changes to the Top 20 Equity Holdings included additions to Baidu and First Solar and a part sale of Atlas Copco. Other changes to the Top 20 were due to market movements. Outwith the Top 20, new investments were made in CFAO, FLIR Systems, Intuitive Surgical and MedAssets. The investments in Canon, China Mobile, Lukoil and Walgreen were sold.

Top Twenty Equity Holdings
Name	% of total assets at 31 Jan 2010	% of total assets at 31 Oct 2009		Name	% of total assets at 31 Jan 2010	% of total assets at 31 Oct 2009
Amazon.com	6.1	5.7		L'Oreal	2.6	2.4
Petrobras	6.1	6.8		Straumann	2.5	2.2
Atlas Copco	4.6	5.8		BYD	2.5	3.1
Vale (CVRD)	4.3	4.3		Nintendo	2.5	2.2
Google	3.4	3.4		Novozymes	2.5	2.2
Gazprom	3.4	3.2		Deere	2.4	2.2
Sandvik	3.2	3.2		ABB	2.4	2.4
Apple	3.1	3.0		First Solar	2.3	2.4
Banco Santander	3.1	3.4		Teva Pharmaceuticals	2.1	1.8
Baidu	2.6	1.1		Tencent	2.1	1.9
				Total	63.8	62.7

Total Return Performance

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	0.6	57.1	-3.7	51.0
NAV	2.5	56.1	2.7	52.6
Comparative Index*	4.7	27.4	2.2	37.6

Source: Thomson Financial Datastream.

*Comparative Index: MSCI All Countries World Index (in sterling terms).

Past performance is not a guide to future performance

General Information
	31 January 2010	31 October 2009
Share Price	219.75p	220.75p
Total assets (before deduction of  borrowings)*	£150.1m	£149.3m
Total borrowings	£23.6m	£23.5m
Equity shareholder's funds*	£126.5m	£125.8m
Net asset value per share*	258.19p	256.73p
Discount*	14.9%	14.0%
Potential Gearing*	18.7%	18.7%
Actual Gearing*	13.7%	12.7%

*These figures have been calculated using the AIC cum income basis (includes current financial year retained income).

This interim management statement and up to date NAV and Share Price information are available on the Managers' website www.edinburghworldwide.co.uk

For further information contact:-  Anzelm Cydzik on 0131 275 3276

 

END

 

 

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