Interim Management Statement

RNS Number : 4075A

Mid Wynd Inter Inv Trust PLC

07 October 2009

MID WYND INTERNATIONAL INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 30 September 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 total return was 22.8% compared to a benchmark total return of 21.8%. The share price total return was 14.0%.
	The final dividend of 8.50p per share was approved by shareholders at the AGM on 29 September and will be paid on 8 October to shareholders on the register on 11 September 2009.
	During the quarter the Company drew down €1.32 million under its US$5 million facility with Lloyds TSB Scotland and a further £2 million under a new facility with Lloyds TSB Scotland.
	Net sales of fixed interest which totalled £0.4m, together with the loan proceeds outlined above, funded net equity investment of £3.0m, predominantly in the UK and Europe.

Geographical Analysis of Total Assets			Top Ten Equity Holdings
Region	% of total assets at 30/09/09	% of total assets at 30/06/09	Name	% of total assets at 30/09/09	% of total assets at 30/06/09
			Baillie Gifford Developed
Continental Europe	24.4	22.1	Asia Pacific Fund	4.7	5.0
North America	17.9	19.6	Baillie Gifford Japanese
Emerging Markets	21.1	21.0	Smaller Companies Fund	3.8	4.1
United Kingdom	9.7	7.7	Kone	2.5	2.6
Asia Pacific incl Japan	11.0	11.4	Seadrill	2.1	1.8
Fixed Interest	15.0	17.8	Baillie Gifford Greater
Net Liquid Assets	0.9	0.4	China Fund	2.0	2.2
			OGX Petróleo e Gás	1.8	1.5
			Essilor	1.8	1.8
			Reinet Investments	1.7	1.7
			China Merchants Bank	1.6	1.7
			Goldman Sachs Group	1.6	1.6
Total	100.0	100.0	Total	23.6	24.0

Total Return Performance

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	14.0	5.9	5.0	58.1
NAV (Par)	22.8	14.1	8.5	49.8
Comparative Index	21.8	11.9	7.6	45.3

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
	30/09/09	30/06/09
Total assets (before deduction of bank loan)*	£52.4m	£41.0m
Bank loan	£5.3m	£1.9m
Equity shareholders' funds*	£47.1m	£39.1m

Net asset value per ordinary share (after deducting borrowings at par)*	936.2p	777.0p
Net asset value per ordinary share (after deducting borrowings at fair value)*	935.6p	776.5p
Share price	757.5p	672.5p

Discount (after deducting borrowings at fair value)*	19.0%	13.4%

Potential gearing (after deducting borrowings at fair value)*	11.3%	4.9%
Gearing less cash and fixed interest (after deducting borrowings at fair value)*	(7.4%)	(12.9%)