Interim Management Statement

RNS Number : 7817P

RCM Technology Trust PLC

04 October 2013

 



RCM Technology Trust PLC              

Interim Management Statement

For the quarter ended 31 August 2013

This interim management statement relates to the quarter from 1 June 2013 to 31 August 2013 and contains information for that period unless otherwise stated. This statement is produced to provide information in accordance with the UK Listing Authority's Disclosure and Transparency Rules.

Investment policy and benchmark

The Company invests principally in the equity securities of quoted technology companies on a worldwide basis with the aim of achieving long-term capital growth.  The Company's benchmark is the Dow Jones World Technology Index (sterling adjusted total return).

Portfolio

Top ten holdings at 31 August 2013 and percentage of total gross assets:

	£		%
Google		7,003,633	5.54
Facebook		6,196,068	4.91
Tesla Motors		5,662,554	4.48
Sunpower		4,305,629	3.41
Amazon		3,597,289	2.85
Aruba Networks		3,592,721	2.84
Micron Technology		3,585,217	2.84
Western Digital		3,308,284	2.62
Pandora Media		3,142,220	2.49
Alcatel-Lucent		2,670,255	2.11
Top ten holdings		£43,063,870
Total gross assets		£126,312,964

Material events and transactions in the period and since 31 August 2013

40,327 shares were purchased for holding in treasury in the period and therefore the share capital at the end of the period was 25,349,941 Ordinary Shares, with a further 2,952,939 Ordinary Shares held in treasury. Since the period end no further shares have been purchased for holding in treasury.

Robert Jeens was appointed to the Board as Deputy Chairman on 1 August 2013.   

Financial Performance to 31 August 2013

			% change
	3m	6m		1yr	3yrs		5yrs
Share price	16.19	34.03		45.87	73.59		102.93
Net Asset Value	6.27	17.87		31.84	55.44		93.05
Benchmark*	-1.73	4.27		10.60	46.07		61.88

* Dow Jones World Technology Index (sterling adjusted total return)

Source: Datastream

RCM were appointed as managers on 1 May 2007.

Financial position at 31 August and 2 October 2013

		31 August		2 October
Total gross assets		£126,312,964		£137,711,216
Net assets		£120,735,382		£130,540,892
Share price		468.25p		490.00p
Net asset value (undiluted)1		476.27p		514.96p
Net asset value (diluted) 1		475.44p		512.35p
Discount 2		1.68%		0.51%

¹  Net asset values per ordinary share are calculated and announced daily, and the diluted NAV takes account of shares held in treasury.

² The discount is the difference between the share price and the NAV per share (undiluted) expressed as a percentage of the NAV per share.

Company Information

Launch date		1995
EPIC		RTT
Year end		30 November
Report and Accounts		Final posted late February / early March, half-yearly posted July
AGM		March / April
Price Information		Financial Times, The Daily Telegraph
		www.rcmtechnologytrust.co.uk

Investor information

Further up to date information, including Net Asset Values and share prices, and the latest available factsheets and portfolio information, is provided on the Manager's website, which can be accessed at www.rcmtechnologytrust.co.uk  or at www.allianzgi.co.uk .  Information can also be obtained from the Investor Services' helpline on 0800 389 4696.

By order of the Board.

RCM Technology Trust PLC

155 Bishopsgate

London EC2M 3AD

4 October 2013

 

END

 

 

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