Interim Management Statement

RNS Number : 0142K

Edinburgh Worldwide Inv Trust PLC

14 August 2012

 

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		¾  Over the quarter, the Company's net asset value total return was -5.7%, compared to a total return of 0.5% in the comparative index. The share price total return was -5.8%. ¾  The interim dividend of 0.50p per share was paid on 19 July 2012 to shareholders on the register on 22 June 2012. ¾  Over the period, changes to the Top 20 Equity Holdings included the purchase of Facebook and the complete sale of Gazprom. Other changes were as a result of market movements.
Top Twenty Equity Holdings* (as a % of total assets)			31/07/12 %	30/04/12 %
		Apple	8.4	7.3
		Amazon	7.9	7.2
		eBay	5.0	5.0
		Baidu	4.7	4.7
		Tencent	4.4	4.2
		Whole Foods Market	4.3	3.6
		Google	4.0	3.5
		PPR	3.9	4.0
		Inditex	3.8	3.0
		Intuitive Surgical	3.7	4.1
		Atlas Copco	3.2	3.1
		Salesforce.com	2.9	3.4
		Novozymes	2.9	2.9
		Hermès	2.9	3.4
		Vale ( or CVRD)	2.6	2.9
		Illumina	2.3	2.2
		L'Oréal	1.9	1.8
		Facebook	1.9	-
		Sandvik	1.9	2.0
		Housing Development Finance Corporation	1.8	1.7
Total			74.4	70.0

*      Facebook and Housing Development Finance Corporation have entered the Top Twenty Equity Holdings and New Oriental Education & Technology and Gazprom have dropped out.

Total Return Performance			%
			3 Months	1 Year		3 Years		5 Years
		Share Price	(5.8)	(9.8)		45.2		12.7
		NAV	(5.7)	(8.6)		37.9		15.5
		Comparative Index*	0.5	1.5		36.2		19.7
		Source: Morningstar *Comparative Index: MSCI All Countries World Index (in sterling terms). Past performance is not a guide to future performance
General Information					31/07/12		30/04/12
		Share price			265.00p		281.75p
		Net asset value per share† (after deducting borrowings at fair value)			306.04p		325.08p
		Net asset value per share† (after deducting borrowings at par)			307.56p		326.48p
		Discount (borrowings at fair value)			13.4%		13.3%
		Discount (borrowings at par)			13.8%		13.7%
		Total assets (before deduction of  borrowings)			£180.1m		£189.3m
		Total borrowings (at fair value)			£30.1m		£30.0m
		Total borrowings (at par)			£29.4m		£29.4m
		Potential gearing (borrowings at par)			19.5%		18.4%
		Actual gearing (borrowings at par)			17.9%		15.2%
		Potential gearing (borrowings at fair value)			20.1%		18.9%
		Actual gearing (borrowings at fair value)			18.5%		15.7%
		† These figures have been calculated using the AIC cum income basis (includes current financial year retained income). Dividends are not reinvested. This interim management statement and up to date NAV and Share Price information are available at www.edinburghworldwide.co.uk ‡ ‡ Neither the contents of the Managers' website nor the contents of any website accessible from hyperlinks on the Managers' website (or any other website) is incorporated into, or forms part of, this announcement. For further information, contact: Anzelm Cydzik  0131 275 3276  [e-mail]

 

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