Interim Management Statement

RNS Number : 3520Q

Mid Wynd Inter Inv Trust PLC

08 April 2009

 



MID WYND INTERNATIONAL INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 March 2009

Mid Wynd seeks to meet its objective of achieving capital and income growth through investment principally in a portfolio of international quoted equities. The proportion of the portfolio invested in UK companies will not normally exceed 25%.

Review of the Period

	Over the period, the Company's net asset value fell by 6.7% compared to a fall in the benchmark of 10.7% while the share price increased by 0.3%.  All figures are total return.
	The interim dividend of 6.50p per share was paid on 7 April 2009 to shareholders on the register on 13 March 2009.
	Additions were made to the Fixed Interest portfolio, funded mainly by equity sales.

Geographical Analysis of Total Assets				Top Ten Equity Holdings
Region	% of total assets at 31/03/09	% of total assets at 31/12/08		Name	% of total assets at 31/03/09	% of total assets at 31/12/08
				Baillie Gifford Developed
Continental Europe	23.4	30.4		Asia Pacific Fund	5.1	6.0
North America	15.1	14.8		Baillie Gifford Japanese
Emerging Markets	12.3	11.0		Smaller Companies Fund	4.0	4.5
United Kingdom	9.2	10.9		Kone	2.5	2.4
Japan	6.6	7.8		Seadrill	2.0	1.5
Asia Pacific	2.4	2.7		Essilor	1.9	2.1
Fixed Interest	27.5	17.8		Goldman Sachs Group	1.8	1.1
Net Liquid Assets	3.5	4.6		Petrobras	1.5	1.1
				Reinet Investments	1.5	0.8
				Medco Health Solutions	1.4	1.3
				Walgreen	1.3	1.2
Total	100.0	100.0		Total	23.0	22.0

Total Return Performance

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	0.3	-22.0	-21.5	17.3
NAV (Par)	-6.7	-26.3	-23.2	12.3
Comparative Index	-10.7	-20.0	-19.5	14.1

Source: Thomson Financial Datastream. 

Comparative Index is the FTSE World Index (in sterling terms).

Past performance is not a guide to future performance

General Information
	31/03/09	31/12/08
Total assets (before deduction of bank loan)	£37.5m	£40.9m
Bank loan	£2.1m	£2.3m
Equity shareholders' funds	£35.4m	£38.6m
Net asset value per ordinary share (after deducting borrowings at par)	704.6p	767.4p
Net asset value per ordinary share (after deducting    borrowings at fair value)	704.2p	766.8p
Share price	605.0p	610.0p
Discount (after deducting borrowings at fair value)	14.1%	20.4%
Potential gearing (after deducting borrowings at fair value)	6.1%	6.0%
Gearing less cash and fixed interest (after deducting borrowings at fair value)	(28.5%)	(18.0%)

This interim management statement and up to date NAV and share price information is available on the Managers' website www.midwynd.co.uk    

For further information contact:-  Robert O'Riordan on 0131 275 3181

 

END

 

 

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