Interim Management Statement

RNS Number : 3184N

Standard Life Equity Income Tst PLC

13 February 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 October 2008 to 31 December 2008 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 

Following shareholder approval at the Annual General Meeting ('AGM') on 16 December 2008, a final dividend of 7.85 pence per ordinary share was declared in respect of the year ended 30 September 2008 which was paid on 19 December 2008 to shareholders on the register as at 21 November 2008. All other resolutions put to the AGM were approved by shareholders.

The Board is not aware of any significant events or transactions which have occurred between 31 December 2008 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.com) by selecting 'Our Funds' and then 'Investment Trusts'.

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.

Ten largest equity holdings as at 31 December 2008

	Value - £	% of Total Assets
BP	7,376,014		8.73
Vodafone	6,874,884		8.13
GlaxoSmithKline	5,558,044		6.58
Royal Dutch Shell	4,061,779		4.81
British American Tobacco	3,817,548		4.52
Imperial Tobacco	3,717,501		4.40
HSBC	3,591,423		4.25
AstraZeneca	3,457,017		4.09
Centrica	2,323,670		2.75
Rio Tinto	2,127,765		2.52
Total			50.78

(Source: Aberdeen Asset Management PLC)

Sector allocation as at 31 December 2008

	% of Total Assets
Oil & Gas		13.8
Utilities		13.2
Financials		13.1
Telecommunications		10.8
Consumer Goods		10.4
Health Care		9.8
Industrials		9.5
Other		8.0
Consumer Services		6.4
Basic Materials		4.0
Technology		1.0
Total		100.0

(Source: Standard Life Investments)

General description of Company's financial position and performance as at 31 December 2008

Gross Assets	£87.85m
Share price	226.50p
Net asset value	231.61p
Discount /(Premium) to net asset value	2.21%
Yield (net)	4.86%
Current equity gearing/(net cash)	(4.00%)

(Source: Datastream)

Performance for year(s) ended 31 December 2008 *

	1 year	2 Years	3 years	4 years	5 years
	%	% p.a.	% p.a.	% p.a.	% p.a.
Share price	-25.9	-16.8	-5.4	-0.8	0.0
NAV	-30.8	-17.9	-7.7	-2.1	0.2
FTSE All-Share Index	-32.8	-17.2	-8.1	-2.2	0.0

* The percentage growth figures are calculated over periods to 31 December 2008 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, Secretaries

13 February 2009

 

END

 

 

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