Interim Management Statement

RNS Number : 0761O

Brunner Investment Trust PLC

05 October 2012

 



The Brunner Investment Trust PLC                                                         

Interim Management Statement

For the quarter ended 31 August 2012

This interim management statement relates to the quarter from 1 June 2012 to 31 August 2012 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 equity holdings at 31 August 2012 and percentage of total gross assets:

	£	%
Royal Dutch Shell 'B'	8,982,897	3.31
GlaxoSmithKline	8,571,689	3.16
BP	7,717,398	2.85
Vodafone Group	7,259,552	2.68
HSBC	6,283,750	2.32
Diageo	5,170,308	1.91
Reed Elsevier	4,656,299	1.72
Rio Tinto	4,227,278	1.56
Apple	3,948,631	1.46
Abbot Labs	3,585,544	1.32
Total Gross Assets	271,134,981

Material events and transactions in the period

35,000 Ordinary Shares were purchased for cancellation during the period at a total cost of

£141,685. The number of Ordinary Shares in issue at the beginning of the period was 43,277,918 and 43,242,918 at the end of the period.

An interim dividend for the year ended 30 November 2012 of 5.0p per share was paid on 31 August to shareholders on the register on 3 August 2012.

Material events and transactions since 31 August

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

Financial Performance to 31 August 2012

			% change
	3m	6m		1yr	3yrs	5yrs
Share price	7.0	-1.9		8.8	29.4	6.4
Net Asset Value	7.2	0.2		12.7	32.3	6.9
Benchmark*	7.0	-0.1		10.2	30.6	15.3

* 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 3 October 2012

		31 August		3 October
Total gross assets	£271,134,981					£278,765,427
Capital net assets	£217,035,191					£224,273,044
Total net assets	£219,210,215					£226,952,673
Share price	405.0					416.5
Capital net asset value1	501.9					518.6
Total net asset value (cum-income)	506.9					524.8
Discount 2 Discount with debt at market value3	-20.1 % -12.4%					-20.6% -13.5%
Net gearing 4	6.4%					5.7%

¹  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.

³  The discount is the difference between the share price and the NAV per share (debt at market value) expressed as a percentage of the NAV per share (debt at market value).

⁴  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.rcm.com/investmenttrusts.  Information can also be obtained from the Investor Services' helpline on 0800 389 4696.

5 October 2012

 

END

 

 

IMSBXBDGIDGBGDU