Interim Management Statement

RNS Number : 0695X

Edinburgh Worldwide Inv Trust PLC

08 February 2012

 

Edinburgh Worldwide Investment Trust plc

 

Interim Management Statement – 3 Months to 31 January 2012

Edinburgh Worldwide aims to achieve long term capital growth by investing in listed companies throughout the world. It tends to hold shares in around forty companies and income is not a consideration when selecting investments.

Review of the Period		¾  Over the quarter, the Company's net asset value total return was 1.9%, compared to a total return of 4.9% in the comparative index. The share price total return was 2.9%. ¾  The final dividend of 1.50p per share was approved at the Annual General Meeting on 2 February 2012 and paid on 8 February 2012. ¾  Over the period, changes to the Top 20 Equity Holdings included additions to the holdings in PPR, Google and Salesforce.com and part sales of Deere and ABB, which dropped out of the Top 20 as a result. Other changes were as a result of market movements.
Top Twenty Equity Holdings* (as a % of total assets)			31/01/12 %	31/10/11 %
		Amazon	6.5	7.1
		Apple	6.1	5.4
		Baidu	4.9	5.3
		eBay	4.1	4.1
		Whole Foods Market	3.9	3.7
		Atlas Copco	3.8	3.5
		PPR	3.8	3.5
		Hermès	3.6	3.5
		Google	3.6	3.2
		Tencent	3.5	3.3
		Intuitive Surgical	3.5	3.3
		Vale	3.5	3.4
		Novozymes	3.3	3.5
		Inditex	3.1	3.3
		Salesforce.com	2.7	2.7
		Gazprom	2.1	2.0
		Housing Development Finance	2.0	2.0
		Illumina	2.0	1.2
		New Oriental Education and Technology	2.0	2.5
		Sandvik	2.0	1.8
Total			70.0	68.3

*      Illumina and Sandvik have entered the Top Twenty Equity Holdings and Deere and ABB have dropped out.

Total Return Performance			%
			3 Months	1 Year		3 Years		5 Years
		Share Price	2.9	(4.0)		95.9		20.1
		NAV	1.9	(4.5)		89.7		24.8
		Comparative Index*	4.9	(1.5)		50.9		21.1
		Source: Thomson Reuters Datastream/Baillie Gifford & Co *Comparative Index: MSCI All Countries World Index (in sterling terms). Past performance is not a guide to future performance
General Information					31/01/12		31/10/11
		Share price			270.00p		264.00p
		Net asset value per share† (after deducting borrowings at fair value)			308.12p		304.24p
		Net asset value per share† (after deducting borrowings at par)			309.66p		305.36p
		Discount (borrowings at fair value)			12.4%		13.2%
		Discount (borrowings at par)			12.8%		13.5%
		Total assets (before deduction of  borrowings)			£181.6m		£179.6m
		Total borrowings (at fair value)			£30.6m		£30.5m
		Total borrowings (at par)			£29.8m		£30.0m
		Potential gearing (borrowings at par)			19.6%		20.0%
		Actual gearing (borrowings at par)			13.7%		13.9%
		Potential gearing (borrowings at fair value)			20.2%		20.5%
		Actual gearing (borrowings at fair value)			14.3%		14.4%
		† These figures have been calculated using the AIC cum income basis (includes current financial year retained income). Dividends are not reinvested. This interim management statement and up to date NAV and Share Price information are available at www.edinburghworldwide.co.uk ‡ ‡ Neither the contents of the Managers' website nor the contents of any website accessible from hyperlinks on the Managers' website (or any other website) is incorporated into, or forms part of, this announcement. For further information, contact: Anzelm Cydzik  0131 275 3276  [e-mail]

 

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