Interim Management Statement

RNS Number : 3260W

New India Investment Trust PLC

24 January 2013

 



New India Investment Trust PLC

Interim Management Statement - 3 months ended 31 December 2012

To the Shareholders of New India Investment Trust PLC ('the Company')

This Interim Management Statement ('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.

This IMS relates to the period from 1 October 2012 to 31 December 2012 and contains information that covers this period, and up to the date of publication of this IMS, unless otherwise specified.

Investment objective

To achieve long-term capital appreciation by investing in companies which are incorporated in India or which derive significant revenue or profit from India, with dividend yield from the company being of secondary importance.

Benchmark

The Company compares its performance to the Morgan Stanley Capital International India Index (Sterling-adjusted) ("MSCI India Index (Sterling-adjusted)") but the Company's investment portfolio is constructed without reference to the composition of any stockmarket index or benchmark. It is likely, therefore, that there will be periods when the Company's performance may vary significantly from the benchmark.

Material events

On 22 November 2012, the Company published to the London Stock Exchange its Half-Yearly Financial Report for the six months ended 30 September 2012.

The Board is not aware of any significant events or transactions which have occurred between 31 December 2012 and the date of publication of this IMS, other than those described above, which would have had a material impact on the financial position of the Company.

For up to date net asset value and share price information, as well as the Manager's monthly factsheet, please refer to the Company's website at www.newindia-trust.co.uk.

Fifteen largest equity holdings at 31 December 2012

	%
HDFC	9.9
ICICI Bank	8.9
Infosys	8.2
Tata Consultancy Services	7.7
Godrej Consumer Products	4.3
ITC	4.2
Hindustan Unilever	4.2
Grasim	3.9
Bosch	3.8
Hero Motocorp	3.8
Ambuja Cements	3.7
HDFC Bank	3.7
MphasiS	3.2
GlaxoSmithKline India	3.0
Nestle India	2.6
	__________
Total	75.1
	__________
Total number of investments	32

Sector allocation as at 31 December 2012

Sector	Company	Benchmark
	%	%
Financials	24.5	31.3
Information Technology	20.6	14.1
Consumer Staples	15.4	10.3
Materials	12.5	8.0
Health Care	7.6	5.7
Consumer Discretionary	7.6	7.1
Utilities	5.5	4.1
Industrials	3.6	5.4
Telecommunication Services	1.8	2.1
Energy	-	12.1
Cash	0.9	-
	__________	__________
Total	100.0	100.0
	__________	__________

General description of Company's financial position and performance as at 31 December 2012

Ongoing charges	1.5%
	£m
Gross Assets	146.2
Debt	Nil
Cash	1.4

Capital structure

Ordinary Shares of 25p each:             59,070,140

Cumulative performance (%)

	As at 31/12/2012	1 month	3 months	6 months	YTD	1 year	3 years	5 years	Since portfolio change 31/01/05
Share Price	219.4p	(0.4)	(0.1)	8.3	12.5	12.5	13.4	32.6	132.5
NAVA	246.5p	(2.8)	(1.6)	8.3	14.4	14.4	17.8	24.9	167.6
MSCI India Index (Sterling-adjusted)		(1.4)	(0.2)	11.9	20.4	20.4	(4.9)	(15.9)	191.7

Discrete performance (%)

Year ending:	31/12/2012	31/12/2011	31/12/2010	31/12/2009	31/12/2008	Since portfolio change 31/01/05 (annualised)
Share Price	12.5	(27.4)	38.9	75.1	(33.2)	11.2
NAVA	14.4	(25.5)	38.2	55.2	(31.7)	13.2
MSCI India Index (Sterling-adjusted)	20.4	(36.7)	24.8	80.6	(51.0)	14.5

Total Return; NAV to NAV, Net income reinvested, GBP.  Share price total return is on a mid-to-mid basis. 

Dividend calculations are to reinvest as at the ex-dividend date.

^A Excluding current year revenue.

Source: Aberdeen Asset Managers Limited, Factset and Morningstar

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.

For New India Investment Trust PLC

Aberdeen Asset Management PLC, Secretary

23 January 2013

 

END

 

 

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