Information  X 
Enter a valid email address

Diverse Inc Trust (DIVI)


Wednesday 21 March, 2012

Diverse Inc Trust

Interim Management Statement


Interim Management Statement - period to 29 February 2012

Diverse Income Trust plc (the "Company") presents its interim management
statement for the period 1 December 2011 to 29 February 2012. This constitutes
the Company's second interim management statement for the financial year ending
31 May 2012, as required by the UK Listing Authority's Disclosure and
Transparency Rule 4.3.

Investment Objective

The Company's investment objective is to provide an attractive level of
dividends coupled with capital growth over the long term. The Company intends
to pay dividends on a quarterly basis and will seek to grow the dividend
progressively. In its first year the Company will target an annualised dividend
yield of 4 per cent.

The Company will invest primarily in quoted UK companies with a wide range of
market capitalisations with a long term bias toward small and mid equities. The
Company may also invest in large cap companies, including FTSE 100
constituents, where it is believed that this will increase shareholder value.

The Manager will adopt a stock specific approach in managing the Company's
portfolio and therefore sector weightings will be of secondary consideration.
As a result of this approach, the Company's portfolio will not track any
benchmark index.

Review of the Period

                                            29 February 2012     28 April 2011*
Mid-market share price                                  49.5p             50.0p 
Net asset value per share including                     49.7p          ** 48.7p 
Net asset value per share excluding                     49.0p          ** 48.7p 
(Discount)/premium to net asset value                   (0.4)%             2.7%
Total assets (including income)                        £49.7m            £48.7m
% of total assets held as cash                           0.3%            100.0%

* date of Admission to trading

** net of launch expenses

There were no shares bought back during the period.

A third interim dividend of 0.46 pence per ordinary share has been declared to
ordinary shareholders on the register on 30 March 2012, and will be paid on 31
May 2012.

Total Return Performance to 29 February 2012

                                          3 months  6 months      launch   
                                                 %         %           %     
NAV*                                          10.2       6.0         0.8    
Share price (mid)**                           11.2       4.2        -2.9    

Sources: *Based on initial NAV of 48.7p (after launch expenses). Company launch
date was 28 April 2011. NAV returns based on NAVs excluding income. **Financial
Express. Net income reinvested GBP.

Top Twenty Equity Holdings

Name                                         % of total assets     
                                          as at 29 February 2012   
CML Microsystems plc                                1.9            
DS Smith plc                                        1.9            
Zotefoams plc                                       1.9            
Greencore Group plc                                 1.9            
32 Red plc                                          1.8            
Quindell Portfolio plc                              1.7            
British Polythene Industries plc                    1.7            
Paypoint plc                                        1.6            
Secure Trust Bank plc                               1.6            
Abbey Protection plc                                1.6            
KBC Advanced Technologies plc                       1.6            
Eco Animal Health Group                             1.5            
Randall & Quilter Investment Holdings               1.4            
Stadium Group plc                                   1.4            
Stobart Group Ltd                                   1.4            
London Capital Group Holdings plc                   1.4            
Chamberlin plc                                      1.4            
KCOM Group plc                                      1.4            
Charles Taylor Consulting plc                       1.3            
Consort Medical plc                                 1.3            
Total                                              31.6            

This is an interim management statement. Full details of the Company, including
the current share price, NAV and factsheets, are available at

The Board is not aware of any material events or transactions occurring between
29 February 2012 and the date of publication of this interim management
statement which would have a material impact on the financial position of the

21 March 2012

Neither the contents of the Diverse IncomeTrust plc website nor the contents of
any website accessible from hyperlinks on the website (or any other website) is
incorporated into, or forms part of, this announcement.

a d v e r t i s e m e n t