Interim Management Statement

RNS Number : 8450T

Mercantile Investment Trust(The)PLC

18 December 2012

 



The Mercantile Investment Trust plc

Interim Management Statement

For the three months ended 31^st October 2012

This interim management statement relates to the quarter from 1st August 2012 to 31^st October 2012 and contains information that covers that period, unless otherwise stated. 

Financial performance -  Cumulative Total Return *

	3 months	1 year	3 years	5 years	10 years
Share price	9.4%	18.5%	36.2%	7.7%	230.9%
Net asset value	9.2%	19.8%	41.5%	8.5%	251.1%
Benchmark	9.2%	19.9%	45.7%	17.9%	245.8%

* total return with net dividends reinvested.  Net asset values are capital NAVs with debt at par.

Source: JPMAM/Morningstar (www.morningstar.co.uk)

Financial position

	As at 31st October 2012	As at 17th December 2012
Total assets	£1,441.1m	£1,465.2m
Share price	1,064.0p	1,077.0p
Net asset value per share	1,235.6p	1,257.2p
Discount	13.9%	14.3%
Gearing	99.8%	99.3%

Share prices shown are closing mid

Net asset values are shown with debt at fair value

Source: JPMAM/Morningstar (www.morningstar.co.uk)

Material events

There are no material events to report.

Material transactions

Changes to share capital

	Issued Ordinary Shares of 25p
As at 1stAugust 2012	98,615,719
Shares bought back and cancelled	35,000
Shares issued	-
As at 30th April 2012	98,580,719

During the quarter, the Company made no issues of its own shares.

Payment of dividends

On 1^st August 2012 a first quarterly dividend of 6.0p per share was paid to shareholders on the register as at the close of business on 6^th July 2012.

On 1st November 2012 a second quarterly dividend of 6.0p per share was paid to shareholders on the register as at the close of business on 5^th October 2012.

Portfolio

Top ten holdings as at 31^st October 2012:

Stock name	Sector	Weight %
Persimmon	Consumer Goods	3.4
Jardine Lloyd Thompson	Financials	2.8
Cable & Wireless	Telecommunications	2.5
Bovis Homes	Consumer Goods	2.2
Hiscox	Financials	1.9
Barratt Developments	Consumer Goods	1.8
Berkeley	Consumer Goods	1.7
Aegis	Consumer Services	1.7
Chemring	Industrials	1.6
Phoenix Group	Financials	1.6

Sector analysis as at 31^st October 2012:

Sector	Portfolio %
Financials	22.9
Consumer Services	17.2
Consumer Goods	14.9
Industrials	13.4
Basic Materials	5.7
Technology	3.8
Telecommunications	3.2
Oil & Gas	3.1
Health Care	1.5
Utilities	0.6
Cash	13.7
Total	100.0

By order of the Board

Juliet Dearlove, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

18^th December 2012

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

Telephone: [phone]

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.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

ENDS

Please note that up to date information on the Company, including daily NAV and share prices, factsheets and portfolio information can be found at www.mercantileit.co.uk 

 

END

 

 

IMSBLBDDUXBBGDI