Interim Management Statement

RNS Number : 4096V
Mid Wynd Inter Inv Trust PLC
27 October 2014
 



Mid Wynd International Investment Trust plc (the "Company")

Interim Management Statement (the "IMS") for the three months ended 30 September 2014

 

Introduction

The Company has prepared this IMS to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules. The IMS covers the three months ended 30 September 2014.

 

Investment objective

The Company aims to achieve capital and income growth by investing on a worldwide basis.

 

Material events

On 9 September 2014 the results for the year ended 30 September 2014 were published along with a proposed final dividend of 2.50 pence per share. The dividend was approved by shareholders at the Annual General Meeting held on 27 October 2014, and will be paid on 31 October 2014 to those shareholders on the register on 3 October 2014.

 

Material transactions

During the period the Company purchased a total of 534,440 shares into treasury. These shares were bought at a price representing an average discount to the prevailing net asset value of 2.7% which enhanced the net asset value for continuing shareholders by 0.15 pence per share.

 

Performance to 30 September 2014


3 months

Since 1 May 2014*

1 year

3 years

5 years

Net asset value**

1.8%

4.0%

6.3%

35.8%

61.3%

Share price

2.2%

3.9%

6.6%

30.2%

97.0%

MSCI All Country Index†

3.0%

5.9%

11.2%

52.4%

59.4%

FTSE World Index†

3.1%

5.9%

11.9%

56.8%

65.1%

*The date Artemis was appointed as investment manager.

** Cum-income with borrowings at fair value.

† In Sterling.

Source: Artemis Fund Managers Limited.

All figures show total returns and assume the reinvestment of dividends.

 

General financial information

30 September 2014

30 June 2014

Shareholders' funds

£62.4 million

£62.8 million

Net asset value per share (borrowings at fair value)

284.3p

279.2p

Net asset value per share (borrowings at par)

284.4p

279.3p

Share price

280.5p

274.5p

Discount of share price to net asset value (borrowings at fair value)

(1.3)%

(1.7)%

Gearing

3.5%

5.6%

 

Top thirty investments

Company

Region

% of investments at 30 September 2014

% of investments at 30 June 2014

Time Warner

North America

2.8%

2.4%

Google

North America

2.7%

2.5%

Union Pacific

North America

2.5%

2.1%

Unibail-Rodamco

Europe

2.3%

2.4%

Ebara

Japan

2.3%

2.4%

Bayer

Europe

2.1%

1.6%

Essilor International

Europe

2.1%

-

Capital One

North America

2.1%

2.3%

China Merchants Holdings International

Developed Asia

2.1%

1.8%

Mapletree Logistics Trust

Developed Asia

2.1%

2.4%

Amerisourcebergen

North America

2.0%

1.8%

East African Breweries

Emerging

2.0%

2.0%

Walgreen

North America

2.0%

1.7%

Actavis

North America

2.0%

1.7%

Shimano

Japan

1.9%

1.6%

Singapore Telecommunications

Developed Asia

1.9%

1.9%

Global Logistic

Developed Asia

1.9%

-

Telenor

Europe

1.9%

-

Louis Vuitton Moet-Hennessy

Europe

1.9%

-

Premier Inc

North America

1.9%

1.5%

VF Corp

North America

1.8%

1.6%

Seven & I Holdings

Japan

1.8%

-

Perrigo Co

North America

1.8%

2.0%

Discovery Communications

North America

1.8%

-

Bank of China

Developed Asia

1.8%

1.7%

Boston Scientific

North America

1.8%

-

Deutsche Annington Immobilien

Europe

1.7%

1.6%

Asics

Japan

1.7%

-

Nestle

Europe

1.7%

-

Visa

North America

1.7%

1.6%

Sector analysis

Sector

% of investments at 30 September 2014

% of investments at 30 June 2014

Health Care

18.3%

12.5%

Consumer Discretionary

18.2%

14.7%

Industrials

18.2%

19.4%

Financials

17.9%

21.3%

Consumer Staples

12.9%

11.3%

Energy

4.7%

7.5%

Information Technology

4.4%

9.4%

Telecommunications Services

3.8%

1.9%

Utilities

1.6%

1.4%

Materials

-

0.6%

 Theme analysis

Theme

% of investments at 30 September 2014

% of investments at 30 June 2014

Healthcare

18.1%

14.2%

Asset Growth

13.2%

17.4%

Energy in a Gas Glut

12.0%

13.5%

Mobile Data & eCommerce

11.5%

11.9%

Retiree Spending Power

10.6%

10.2%

Emerging Market Consumer

10.2%

5.2%

Distribution

7.7%

9.6%

Frontier Investments

5.9%

5.5%

Media Content

5.5%

4.1%

Business Investment

3.5%

6.7%

Emerging Market Financials

1.8%

1.7%

 

Further information relating to the Company can be found at midwynd.co.uk.

 

Artemis Fund Managers Limited

Company Secretary

Tel: 0131 225 7300

27 October 2014


This information is provided by RNS
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