Interim Management Statement

RNS Number : 2925C

Pacific Horizon Investment Tst PLC

10 November 2009

 



PACIFIC HORIZON INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 October 2009

Pacific Horizon's objective is to invest in the stockmarkets of the Asia-Pacific region (excluding Japan) and in the stockmarkets of the Indian Sub-continent in order to achieve capital growth. The Company is prepared to move freely between the markets of the region as opportunities for growth vary. The portfolio will normally consist entirely of quoted securities.

Review of the Period

	Over the period, the Company's net asset value per share rose by 5.5% compared to a rise in the comparative index of 4.7%. The share price rose by 5.2%.
	Top 10 Holdings:  Notable transactions have included reductions to CNPC Hong Kong, PT Telekomunikasi and China Unicom, the latter two being previously in the top 10.  Other changes were due to market movements.

Geographical Analysis of Total Assets				Top Ten Holdings
Region	% of total assets at 31/10/09	% of total assets at 31/07/09		Name	% of total assets at 31/10/09	% of total assets at 31/07/09
Hong Kong and China	44.1	43.6		CNPC Hong Kong	5.5	6.4
Korea	12.8	11.3		Samsung Electronics	4.6	4.6
Taiwan	11.2	11.4		Taiwan Semiconductor
Singapore	9.2	10.2		Manufacturing	3.3	3.4
Malaysia	5.5	5.5		ZTE	3.1	2.7
Thailand	5.4	5.0		ASM Pacific Technology	3.0	2.8
Indonesia	5.3	5.6		Li & Fung	2.8	2.1
India	3.2	3.2		Singapore Exchange	2.6	2.9
Philippines	1.3	1.3		Hon Hai Precision Industries	2.4	2.2
Vietnam	1.2	1.0		Parkson Holdings	2.3	2.5
Net Liquid Assets	0.8	1.9		China Resources Enterprise	2.3	1.7
Total	100.0	100.0		Total	31.9	31.3

Capital Growth Performance

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	5.2	87.5	9.6	98.9
NAV	5.5	76.7	24.7	108.7
Comparative Index	4.7	57.8	29.3	86.1

Source: Thomson Financial Datastream/Baillie Gifford & Co.; Comparative Index is MSCI All Country Far East ex Japan Index (in sterling terms).

Past performance is not a guide to future performance

General Information
	31/10/09	31/07/09
Equity shareholders' funds	£111.7m	£105.9m
Net asset value per share	142.65p	135.21p
Share Price	131.25p	124.75p
Discount	8.0%	7.7%

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

For further information contact:-  Anzelm Cydzik on 0131 275 3276

 

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