Interim Management Statement

RNS Number : 7535Z

F&C Capital & Income Inv Tst PLC

19 January 2011

 



F&C Capital and Income Investment Trust PLC

Interim Management Statement

For the three month period to 31 December 2010

Objective

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

Dividends

On 25 November in the announcement of the Audited Statement of Results for the year to 30 September 2010, the Directors declared a fourth interim dividend of 2.60 pence per share.  This was paid to shareholders on 31 December 2010.

The Board has declared a first interim dividend for 2011 of 2.0 pence per share payable on 31 March 2011 to shareholders on the register on 25 February 2011.

Performance summary

	At 31 December 2010	At 30 September 2010	% change
Net assets *	£184.86m	£177.43m	4.2
Net asset value ("NAV") per share *	217.95p	207.90p	4.8
FTSE All-Share Index - 3 month return	-	-	6.8
Share price	226.25p	214.25p	5.6
Premium to NAV per share	3.8%	3.1%	-
NAV per share total return - 3 month return	-	-	6.1
FTSE All-Share Index - 3 month total return	-	-	7.4
Effective gearing	6.6%	7.6%	-

* Includes undistributed income

Three month review

Over the three months to 31 December, the Company's NAV per share total return was 6.1% in comparison to a total return of 7.4% from its benchmark, the FTSE All-Share Index.  The share price rose 5.6% as the premium of 3.1% at 30 September 2010 increased to a premium of 3.8% at 31 December 2010.

The Company's level of borrowing within its £20m committed facility was increased during the quarter from £14m to £15m.

215,000 ordinary shares were issued from the Company's general blocklisting authority during this period.  Since the period end the Company has not issued shares.

The Company did not purchase any of its own shares in the three months to 31 December 2010. 

The Board is not aware of any significant events or transactions which have occurred between 31 December 2010 and the date of publication of this statement which would have a material impact on the financial position of the Company.

Ten largest holdings

At 31 December 2010	At 30 September 2010	Company	Percentage of total investments at   31 December 2010
1	1	Vodafone	6.6
2	4	BP	6.3
3	3	Royal Dutch Shell	6.1
4	6	Rio Tinto	6.0
5	5	GlaxoSmithKline	4.9
6	2	HSBC	4.7
7	7	British American Tobacco	4.6
8	9	Scottish & Southern Energy	3.4
9	10	Tesco	3.0
10	8	AstraZeneca	2.4
		Total	48.0

Investment portfolio by sector

	Percentage of total investments at 31 December 2010	Percentage of total  investments at 30 September 2010
Financials	22.0	21.5
Oil & gas	14.9	15.0
Utilities	8.5	10.7
Telecommunications	10.7	9.1
Consumer goods	9.0	9.6
Health care	7.5	9.1
Consumer services	9.4	8.2
Industrials	8.1	7.8
Basic materials	8.9	7.9
Technology	1.0	1.1

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

19 January 2011

 

END

 

 

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