Interim Management Statement

RNS Number : 3868T
Brunner Investment Trust PLC
27 September 2010
 



The Brunner Investment Trust PLC                                                         

 

Interim Management Statement

For the quarter ended 31 August 2010

 

This interim management statement relates to the quarter from 1 June 2010 to 31 August 2010 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 objective and benchmark

 

The Trust aims to provide growth in capital value and dividends over the long term through investing in a portfolio of UK and international securities.

 

The benchmark is: 50% FTSE All-Share and 50% FTSE World Index (ex UK, sterling).

 

 

Portfolio

 

Top ten holdings at 31 August 2010 and percentage of total gross assets:

 


£

%

UK Government 4.25% Stock 2011

10,186,750

4.03

UK Government 2.5% Index-Linked 2020

8,134,181

3.22

UK Government 4% 2022

8,124,563

3.22

GlaxoSmithkline

8,083,704

3.20

Vodafone Group

6,724,308

2.66

HSBC

6,687,989

2.65

Royal Dutch Shell 'B'

6,009,353

2.38

BP

5,974,802

2.37

BG Group

4,928,097

1.95

Rio Tinto

4,226,079

1.67




Total Gross Assets

252,624,658


 

 

 

Material events and transactions in the period

 

No Ordinary Shares were purchased for cancellation during the period, therefore the number of Ordinary Shares in issue at both the beginning and end of the period was 46,047,805.

 

An interim dividend for the year ended 30 November 2010 of 4.8p per share was paid on 27 August to shareholders on the register on 30 July 2010.

 

The board has appointed Peter Maynard as a non-executive director with effect from 1 October 2010.

 

 

Material events and transactions since 31 August

 

No Ordinary Shares have been purchased for cancellation since the period end.

 

 



Financial Performance to 31 August 2010




% change





3m

6m

1yr

3yrs

5yrs


Share price

-2.6

-4.8

6.6

-12.4

26.5


Net Asset Value            

-2.5

-4.4

8.0

-12.7

16.0


Benchmark*

-1.7

-1.7

9.9

-3.0

24.2


 

* 50% FTSE All-Share and 50% FTSE World Index (ex UK, sterling), total return since 25 March 2008; prior to that the benchmark was 60% FTSE All-Share and 40% FTSE World Index (ex UK, sterling).

Source: Datastream

 

 

Financial position at 31 August and 24 September 2010

 


31 August


24 September

Total gross assets

£ 252,624,658


£267,405,787

Capital net assets

£ 198,453,360


£212,726,011

Total net assets

£ 199,450,480


£214,157,034

Share price

354.75


380.50

Capital net asset value1

430.97


461.97

Total net asset value (cum-income)

433.14


465.08

Discount 2

-18.1%


-18.4%

Net gearing 3          

5.2%


5.7%

 

 

Capital Net asset values per ordinary share are calculated and announced daily.

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

Net gearing is borrowings net of current assets and fixed interest securities.

 

 

 

Company Information

 

 

Launch date


1927

EPIC


BUT

Year end


30 November

Report and Accounts


Final posted February, half-yearly posted July

AGM


March

Price Information


Financial Times, The Daily Telegraph,  www.allianzgi.co.uk, www.brunner.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 via www.brunner.co.uk  or www.allianzgi.co.uk .  Investor Services can be contacted on 020 7065 1407 and information can also be obtained from the Manager's helpline on 0800 317 573.

 

 

27 September 2010


This information is provided by RNS
The company news service from the London Stock Exchange
 
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