Interim Management Statement

RNS Number : 0753X

Standard Life Equity Income Tst PLC

07 August 2009

 



Standard Life Equity Income Trust PLC

Interim Management Statement ('IMS')

To the members of Standard Life Equity Income Trust PLC

This IMS has been produced solely to provide additional information to shareholders as a body to meet 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 IMS relates to the period from 1 April 2009 to 30 June 2009 and contains information that covers this period, and up to the date of publication of this IMS, unless otherwise specified.

Investment objective

The objective of Standard Life Equity Income Trust PLC is to provide shareholders with an above average income from their equity investment while also providing real growth in capital and income.

Benchmark

FTSE All-Share Index. 

Material events 

An interim dividend of 3.15p per share was paid on 24 June 2009 to those shareholders entered in the share register on 5 June 2009. The ex-dividend date was 3 June 2009.

The Board is not aware of any significant events or transactions which have occurred between 30 June 2009 and the date of publication of this IMS which would have a material impact on the financial position of the Company. For the Manager's latest Investment Review & Outlook, please refer to the Quarterly Factsheet which may be found, together with other useful information, on the Manager's Investment Trusts' website 
(www.standardlifeinvestments.co.uk/its).

Material transactions 

As at the date of this IMS, the Company's issued ordinary share capital with voting rights was 37,930,579 ordinary shares (excluding treasury shares) and 39,737,907 (including treasury shares) ordinary shares. The number of ordinary shares held in treasury was 1,807,328 as at the date of this IMS.

The borrowings at the period end were £4.5m of the £20m revolving loan facility.

Ten largest equity holdings as at 30 June 2009

	% of Total Assets
BP	8.8
Vodafone Group	6.9
HSBC	6.9
GlaxoSmithKline	5.3
Royal Dutch Shell	4.1
AstraZeneca	4.1
British American Tobacco	4.1
Imperial Tobacco Group	3.6
Xstrata	2.6
Aviva	2.3
Total	48.7

(Source: Standard Life Investments)

  Sector allocation as at 30 June 2009

	% of Total Assets
Financials	20.1
Oil & Gas	15.6
Industrials	12.8
Consumer Goods	11.6
Healthcare	9.3
Utilities	8.8
Consumer Services	8.4
Telecoms	8.4
Basic Industries	6.8
Technology	1.0
Others	(2.8)
Total	100.0

(Source: Standard Life Investments)

General description of Company's financial position and performance as at 30 June 2009

Gross Assets	£87.9m
Share price	218.5p
Net asset value	219.97p
Discount /(Premium) to net asset value	0.67%
Yield (net)	5.03%
Current equity gearing/(net cash)	6.00%

(Source: Datastream)

Performance for year(s) ended 30 June 2009 *

	1 year	2 Years	3 years	4 years	5 years
	%	% p.a.	% p.a.	% p.a.	% p.a.
Share price	-17.2	-17.0	-8.9	-2.9	0.1
NAV	-24.7	-21.2	-10.6	-4.6	-1.4
FTSE All-Share Index	-23.9	-20.1	-9.9	-4.0	-0.5

* The percentage growth figures are calculated over periods to 30 June 2009 and include retained revenue. Standard Life Investments was appointed to manage the Standard Life Equity Income Trust in November 2005.

(Source: Standard Life Investments, capital returns)

Note: Past performance is not a guide to future performance and that the value of shares can go down as well as up.

For Standard Life Equity Income Trust PLC

Aberdeen Asset Management PLC, Secretary

7 August 2009

 

END

 

 

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