Interim Management Statement

RNS Number : 6217Q

Edinburgh Worldwide Inv Trust PLC

05 August 2010

 

EDINBURGH WORLDWIDE INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 July 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 decreased by 8.6% compared to a decrease in the comparative index of 7.1% while the share price decreased by 6.2%. All figures are total return.
·	The interim dividend of 0.50p per share was paid on 22 July 2010 to shareholders on the register on 25 June 2010.
·	Over the period, changes to the Top 20 Equity Holdings included additions to PPR and Intuitive Surgical and a part sale of L'Oreal taking it out of the Top 20. Other changes to the Top 20 were due to market movements. Outwith the Top 20, new investments were made in Garanti Bankasi and VanceInfo Technologies. The investments in Porsche, SAP, Berkshire Hathaway and Inspur International were sold.
·	On 1 July 2010 the Lloyds TSB multi-currency loan facility was extended for a further three months.

Top Twenty Equity Holdings
Name	% of total assets at 31 July 2010	% of total assets at 30 April 2010		Name	% of total assets at 31 July 2010	% of total assets at 30 April 2010
Amazon.com	5.5	6.0		Novozymes	2.9	2.6
Petrobras	5.2	5.7		Gazprom	2.8	2.9
Baidu	4.8	3.9		Sandvik	2.7	2.9
Vale (CVRD)	4.4	4.6		Tencent	2.5	2.6
Atlas Copco	4.4	4.1		ABB	2.4	2.2
Apple	3.9	3.7		First Solar	2.4	2.6
PPR	3.2	2.0		Intuitive Surgical	2.4	1.7
Deere	3.1	2.6		Nintendo	2.3	2.7
Google	3.0	3.0		New Oriental	2.3	2.1
Banco Santander	2.9	2.7		Whole Foods Market	2.2	2.2
				Total	65.3	62.8

Total Return Performance

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	-6.2	36.6	5.9	45.9
NAV	-8.6	26.8	4.8	40.3
Comparative Index*	-7.1	18.2	3.8	27.5

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 July 2010	30 April 2010
Share Price	253.00p	270.25p
Total assets (before deduction of  borrowings)*	£162.5m	£175.6m
Total borrowings	£24.1m	£24.1m
Equity shareholder's funds*	£138.4m	£151.5m
Net asset value per share*	282.52p	309.19p
Discount*	10.4%	12.6%
Potential Gearing*	17.4%	15.9%
Actual Gearing*	13.9%	12.9%

*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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