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North Atlantic Smlr (NAS)

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Tuesday 19 June, 2012

North Atlantic Smlr

Interim Management Statement

RNS Number : 7014F
North Atlantic Smlr Co Inv Tst PLC
19 June 2012
 



 NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC

 

INTERIM MANAGEMENT STATEMENT FOR THE PERIOD ENDED 31 MAY 2012

 

To the members of North Atlantic Smaller Companies Investment Trust PLC

This interim management statement has been produced solely to provide additional information to shareholders as a body in accordance with the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

 

This interim management statement relates to the period from 1 February 2012 to 31 May 2012, and contains information that covers this period, and up to the date of publication of this interim management statement, unless otherwise specified.

 

Investment Objective

The objective of North Atlantic Smaller Companies Investment Trust PLC ("the Company") is to provide capital appreciation through investment in a portfolio of smaller companies principally based in countries bordering the North Atlantic Ocean.

 

Financial Highlights

 


Cumulative performance


As at  

   31 May 2012

3 months  %

6 months  %

1 year     %

3 years     %

5 years     %








NAV *







  Basic

1,606p

0.6

3.3

(6.0)

29.8

(16.4)

  Diluted

1,426p

0.5

3.2

(4.7)

47.2

7.4








Mid-market price

925p 

(11.1)

(2.9)

(17.4)

23.5

(26.2)








Discount to diluted NAV *

35.1% 













Standard & Poor's 500 Composite Index **

856.1

(0.2)

7.8

4.7

50.8

10.7

Russell 2000 **

497.7

(2.3)

6.0

(3.5)

60.7

16.3

FTSE All-Share Index

2,767.1

(9.1)

(2.4)

(11.3)

22.8

(19.5)

US Dollar/Sterling exchange rate

1.5392

3.7

2.1

6.5

4.6

22.2

 

* Excluding retained revenue for the period.

** Sterling adjusted.

 

Material Events and Transactions during the Period

 

There have been no material events or transactions during the quarter ended 31 May 2012.

 

Transaction in Own Shares

 

There have been no transactions of own shares during the quarter ended 31 May 2012.

 

 

 

 

 

 

 

 

 

TEN LARGEST INVESTMENTS AT 31 MAY 2012

 



% of portfolio 




Oryx International Growth Fund Limited *

UK Listed

10.3

Hampton Investment Properties Limited

UK Unquoted

7.3

Bionostics Holdings Ltd

US Unquoted

6.3

Trident Private Equity Fund III LLP

UK Unquoted

6.0

US Treasury Bills

Us Treasury Bills

6.0

RPC Group

UK Listed

5.6

MJ Gleeson Group

UK Listed

5.6

Guinness Peat Group

New Zealand Listed

4.8

BBA Aviation Group

UK Listed

4.7

CVS Group

UK Listed

3.4







% of total portfolio


60.0




 

* Incorporated in Guernsey

 

SECTOR ANALYSIS OF INVESTMENTS AT FAIR VALUE AS AT 31 MAY 2012

 


United 

United 


New



States 

Kingdom 

Europe 

Zealand

Total 


Investment Companies


19.4



19.4

Manufacturing

8.8




8.8

Real Estate


10.1

0.5


10.6

General Industrials

1.1

5.6



6.7

Health Care, Equipment & Services

5.0

6.4



11.4

Support Services

1.6

5.7



7.3

Transportation


4.7



4.7

General Financials

5.1




5.1

Media


1.6



1.6

Construction & Materials


5.6



5.6

Technology Hardware & Equipment

1.2




1.2

Travel & Leisure

               0.2

0.8



1.0

Oil & Gas Producers

               0.5

1.9



2.4

General Retailers


3.4



3.4

Financial Services




4.8

4.8


23.5

65.2

0.5

4.8

94.0

Treasury Bills

6.0




6.0







Total at 31 May 2012

29.5

65.2

0.5

4.8

100.0

Total at 31 January 2012

30.1

63.6

0.5

5.8

100.0

 

 

The financial information for the period ended 31 May 2012 contained within this Interim Management Statement has not been audited.

 

By order of the Board

 

 

Bonita Guntrip

Company Secretary

19 June 2012


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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