Interim Management Statement

RNS Number : 5971K

F&C Capital & Income Inv Tst PLC

18 July 2011

 



F&C Capital and Income Investment Trust PLC

Interim Management Statement

For the three month period to 30 June 2011

Objective

To secure long-term capital and income growth from a portfolio consisting mainly of FTSE All-Share companies.

Dividends

The Board declared a second interim dividend for 2011 of 2.0 pence per share which was paid on 30 June 2011 to shareholders on the register on 10 June 2011.

Performance summary

	At 30 June 2011	At 31 March 2011	% change
Net assets *	£193.07m	£187.44m	3.0
Net asset value ("NAV") per share *	225.66p	219.07p	3.0
FTSE All-Share Index - 3 month return	-	-	0.9
Share price	229.25p	225.00p	1.9
Premium to NAV per share	1.6%	2.7%	-
NAV per share total return - 3 month return	-	-	3.9
FTSE All-Share Index - 3 month total return	-	-	1.9
Effective gearing	7.8%	8.4%	-

* Includes undistributed income

Three month review

Over the three months to 30 June, the Company's NAV per share total return was 3.9% in comparison to a total return of 1.9% from its benchmark, the FTSE All-Share Index.  The share price rose 1.9% as the premium of 2.7% at 31 March 2011 decreased to a premium of 1.6% at 30 June 2011.

The Company's level of borrowing within its £20m committed facility remained at £15m during the quarter.

During the three months to 30 June 2011 the Company did not issue shares.

The Company did not purchase any of its own shares in the three months to 30 June 2011. 

The Board is not aware of any significant events or transactions which have occurred between 30 June 2011 and the date of publication of this statement which would have a material impact on the financial position of the Company.  The Company issued 100,000 shares on 11 July 2011 at a price of 230p per share and a further 150,000 shares on 12 July 2011 at 226p per share.

Ten largest holdings

At 30 June 2011	At 31 March 2011	Company	Percentage of total investments at   30 June 2011
1	1	Vodafone	6.4
2	2	Royal Dutch Shell	6.2
3	3	BP	5.8
4	4	Rio Tinto	5.8
5	5	GlaxoSmithKline	5.1
6	7	HSBC	4.3
7	6	British American Tobacco	3.6
8	8	Scottish & Southern Energy	3.5
9	9	Tesco	2.7
10	10	AstraZeneca	2.5
		Total	45.9

Investment portfolio by sector

	Percentage of total investments at 30 June 2011	Percentage of total  investments at 31 March 2011
Financials	21.1	20.3
Oil & gas	13.8	14.3
Utilities	8.8	8.3
Telecommunications	9.5	10.7
Consumer goods	8.6	9.3
Health care	7.6	7.0
Consumer services	9.9	9.3
Industrials	10.5	10.6
Basic materials	9.1	9.3
Technology	1.1	0.9

Daily and key information

Further information regarding the Company, including monthly factsheets and daily NAVs published since the end of the period, can be found on the internet at www.fandccit.com

Disclaimer

This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

By order of the Board

F&C Management Limited, Secretary

18 July 2011

 

END

 

 

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