Interim Management Statement

RNS Number : 5017X

F&C Capital & Income Inv Tst PLC

15 February 2012

 



F&C Capital and Income Investment Trust PLC

Interim Management Statement

For the three month period to 31 December 2011

Objective

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

Dividends

On 24 November 2011 in the announcement of the Audited Statement of Results for the year to 30 September 2011, the Directors declared a fourth interim dividend of 2.65 pence per share.  This was paid to shareholders on 30 December 2011.

The Board has declared a first interim dividend for 2012 of 2.05 pence per share payable on 30 March 2012 to shareholders on the register on 24 February 2012.

Performance summary

	At 31 December 2011	At 30 September 2011	% change
Net assets *	£178.58m	£167.29m	6.7
Net asset value ("NAV") per share *	206.67p	194.96p	6.0
FTSE All-Share Index - 3 month return	-	-	7.7
Share price	210.50p	206.00p	2.2
Premium to NAV per share	1.9%	5.7%	-
NAV per share total return - 3 month return	-	-	7.3
FTSE All-Share Index - 3 month total return	-	-	8.4
Effective gearing	4.6%	9.1%	-

* Includes undistributed income

Three month review

Over the three months to 31 December, the Company's NAV per share total return was 7.3% in comparison to a total return of 8.4% from its benchmark, the FTSE All-Share Index.  The share price rose by only 2.2%, however, as the premium of 5.7% at 30 September 2011 fell to a premium of 1.9% at 31 December 2011.

The Company's level of borrowing within its £20m committed facility was decreased during the quarter from £15m to £11m.

600,000 ordinary shares were issued from the Company's general blocklisting authority during this period.  Since the period end the Company has issued 450,000 shares.

The Company did not purchase any of its own shares in the three months to 31 December 2011. 

The Board is not aware of any significant events or transactions which have occurred between 31 December 2011 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 2011	At 30 September 2011	Company	Percentage of total investments at 31 December 2011
1	1	Vodafone	7.6
2	2	Royal Dutch Shell	7.1
3	3	BP	6.4
4	4	GlaxoSmithKline	5.3
5	6	British American Tobacco	4.4
6	7	HSBC	3.6
7	8	Scottish & Southern Energy	3.5
8	9	Tesco	3.0
9	10	AstraZeneca	2.6
10	5	Rio Tinto	2.6
		Total	46.1

Investment portfolio by sector

	Percentage of total investments at 31 December 2011	Percentage of total  investments at 30 September  2011
Financials	18.7	19.8
Oil & gas	15.5	14.3
Utilities	7.0	9.8
Telecommunications	10.0	10.4
Consumer goods	9.8	9.7
Health care	8.0	8.5
Consumer services	9.7	9.9
Industrials	10.1	7.5
Basic materials	9.1	8.0
Technology	2.1	2.1

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

15 February 2012

 

END

 

 

IMSGGUPUPUPPGQA