Interim Management Statement

RNS Number : 7392P

Brunner Investment Trust PLC

06 October 2011

 



The Brunner Investment Trust PLC                                                         

Interim Management Statement

For the quarter ended 31 August 2011

This interim management statement relates to the quarter from 1 June 2011 to 31 August 2011 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 2011 and percentage of total gross assets:

	£	%
UK Government 5% 2012	10,223,750	3.99
UK Government 2.5% Index-Linked 2020	8,790,296	3.43
GlaxoSmithKline	8,403,437	3.28
UK Government 4% Treasury Gilt 2022	8,231,813	3.21
Royal Dutch Shell 'B'	7,484,229	2.92
BP	7,037,196	2.75
Vodafone Group	6,439,602	2.51
HSBC	5,533,594	2.16
Diageo	5,075,675	1.98
Unilever	4,740,733	1.85
Total Gross Assets	256,258,970

Material events and transactions in the period

1,218,575 Ordinary Shares were purchased for cancellation during the period at a total cost of £5,106,057. The number of Ordinary Shares in issue at the beginning of the period was 45,076,162 falling to 43,857,587 at the end of the period.

An interim dividend for the year ended 30 November 2011 of 4.8p per share was paid on 2 September to shareholders on the register on 5 August 2011.

Material events and transactions since 31 August

121,000 Ordinary Shares have been purchased for cancellation since the period end at a total cost of £453,657.

Financial Performance to 31 August 2011

			% change
	3m	6m		1yr	3yrs	5yrs
Share price	-7.0	-5.8		11.6	-1.5	14.3
Net Asset Value	-8.3	-8.1		8.7	-3.2	10.3
Benchmark*	-9.3	-8.4		7.8	10.8	17.3

* 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 5 October 2011

	31 August		5 October
Total gross assets	£ 256,258,970		£241,361,704
Capital net assets	£ 199,976,555		£187,070,781
Total net assets	£ 201,676,531		£189,328,873
Share price	384.4		363.5
Capital net asset value1	456.8		427.7
Total net asset value (cum-income)	460.7		432.9
Discount 2	-16.6%		-16.0%
Net gearing 3	9.8%		9.5%

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  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.

6 October 2011

 

END

 

 

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