Interim Management Statement

RNS Number : 0055Z

Value & Income Trust plc

14 July 2008

 



Value and Income Trust PLC

Interim Management Statement - three months ended 30 June 2008

To the members of Value and Income Trust PLC ('the Company')

This Interim Management Statement ('IMS') relates to the period from 1 April 2008 to 30 June 2008 and contains information that covers this period, and up to the date of publication of this IMS, unless otherwise specified.

Investment objective and benchmark

Value and Income Trust is a specialist United Kingdom investment trust designed for both institutional and private investors. It invests in higher-yielding, less fashionable areas of the UK commercial property and quoted equity markets, particularly in medium and smaller sized companies. Its aim is long term real growth in dividends.  The FTSE All-Share Index is the benchmark index for Value and Income Trust.

Material events 

Following shareholder approval at the Annual General Meeting held on 11 July 2008 a final dividend of 3.7 pence per ordinary share will be paid on 18 July 2008 to shareholders on the register as at 20 June 2008. The ex-dividend date was 18 June 2008.  All other resolutions put to shareholders at the Annual General Meeting were approved.

The Board is not aware of any significant events or transactions which have occurred between 30 June 2008 and the date of publication of this IMS which would have had a material impact on the financial position of the Company.

Ten largest equity holdings as at 30 June 2008

	Investment	Value (£)	%age of Gross Assets as at 30 June 2008
1	VT Group	8,869,000	6.1
2	Royal Dutch Shell	7,505,835	5.2
3	Rotork	6,852,000	4.6
4	BP	6,322,430	4.4
5	National Grid	4,252,299	2.9
6	Glaxosmithkline	3,617,250	2.5
7	United Utilities	3,480,555	2.4
8	Vodafone	3,378,248	2.3
9	Scottish & Southern Energy	3,163,765	2.2
10	Interserve	3,118,500	2.2
		Total	34.8

General description of Company's financial position at 30 June 2008

As at 30 June 2008, the Company's net asset values per share, excluding net income, were 236.18 pence on a par basis and 212.30 pence with the debenture stock instruments valued on a mark-to-market basis. The mid-market price per ordinary share of the Company was 156.00 pence at 30 June 2008. Both net asset values are published monthly to the London Stock Exchange.

Summary of Portfolio based on Total Assets

	30 June 2008		31 March 2008
	£m	%	£m	%
UK equities	89.6	60	92.0	60
UK property	51.0	35	51.0	34
Cash	6.9	5	8.8	6
	147.5	100	151.8	100

All financial information sourced from Aberdeen Asset Management PLC.

Important Information

Please note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise. Investors may not get back the amount they originally invested.

This IMS has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

For Value and Income Trust PLC

Aberdeen Asset Management PLC, Secretary

14 July 2008

Tel. [phone]

 

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