Interim Management Statement

RNS Number : 3260W
New India Investment Trust PLC
24 January 2013
 



New India Investment Trust PLC

 

Interim Management Statement - 3 months ended 31 December 2012

 

To the Shareholders of New India Investment Trust PLC ('the Company')

This Interim Management Statement ('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 2012 to 31 December 2012 and contains information that covers this period, and up to the date of publication of this IMS, unless otherwise specified.

 

Investment objective

To achieve long-term capital appreciation by investing in companies which are incorporated in India or which derive significant revenue or profit from India, with dividend yield from the company being of secondary importance.

 

Benchmark

The Company compares its performance to the Morgan Stanley Capital International India Index (Sterling-adjusted) ("MSCI India Index (Sterling-adjusted)") but the Company's investment portfolio is constructed without reference to the composition of any stockmarket index or benchmark. It is likely, therefore, that there will be periods when the Company's performance may vary significantly from the benchmark.

 

Material events

On 22 November 2012, the Company published to the London Stock Exchange its Half-Yearly Financial Report for the six months ended 30 September 2012.

 

The Board is not aware of any significant events or transactions which have occurred between 31 December 2012 and the date of publication of this IMS, other than those described above, which would have had a material impact on the financial position of the Company.

 

For up to date net asset value and share price information, as well as the Manager's monthly factsheet, please refer to the Company's website at www.newindia-trust.co.uk.

 

Fifteen largest equity holdings at 31 December 2012


%



HDFC

9.9

ICICI Bank

8.9

Infosys

8.2

Tata Consultancy Services

7.7

Godrej Consumer Products

4.3

ITC

4.2

Hindustan Unilever

4.2

Grasim

3.9

Bosch

3.8

Hero Motocorp

3.8

Ambuja Cements

3.7

HDFC Bank

3.7

MphasiS

3.2

GlaxoSmithKline India

3.0

Nestle India

2.6


 __________

Total

75.1


 __________

Total number of investments

32

 

Sector allocation as at 31 December 2012

Sector

Company

Benchmark


%

%




Financials

24.5

31.3

Information Technology

20.6

14.1

Consumer Staples

15.4

10.3

Materials

12.5

8.0

Health Care

7.6

5.7

Consumer Discretionary

7.6

7.1

Utilities

5.5

4.1

Industrials

3.6

5.4

Telecommunication Services

1.8

2.1

Energy

-

12.1

Cash

0.9

-


 __________

 __________

Total

100.0

100.0


 __________

 __________

 

General description of Company's financial position and performance as at 31 December 2012

 

Ongoing charges

1.5%




£m

Gross Assets

146.2

Debt

Nil

Cash

1.4

 

Capital structure

 

Ordinary Shares of 25p each:             59,070,140

 

Cumulative performance (%)


As at

31/12/2012

1 month

3 months

6 months

 

 

 

 

 

YTD

1 year

 

 

 

 

 

3 years

 

 

 

 

 

5 years

Since portfolio change

31/01/05

Share Price

219.4p

(0.4)

(0.1)

8.3

12.5

12.5

13.4

32.6

132.5

NAVA

246.5p

(2.8)

(1.6)

8.3

14.4

14.4

17.8

24.9

167.6

MSCI India Index (Sterling-adjusted)


(1.4)

(0.2)

11.9

20.4

20.4

(4.9)

(15.9)

191.7

 

Discrete performance (%)

 Year ending:

31/12/2012

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Since portfolio change

31/01/05 (annualised)

Share Price

12.5

(27.4)

38.9

75.1

(33.2)

11.2

NAVA

14.4

(25.5)

38.2

55.2

(31.7)

13.2

MSCI India Index (Sterling-adjusted)

20.4

(36.7)

24.8

80.6

(51.0)

14.5

 

Total Return; NAV to NAV, Net income reinvested, GBP.  Share price total return is on a mid-to-mid basis. 

Dividend calculations are to reinvest as at the ex-dividend date.

A Excluding current year revenue.

 

Source: Aberdeen Asset Managers Limited, Factset and Morningstar

 

Please note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise.  Investors may not get back the amount they originally invested.

 

For New India Investment Trust PLC

Aberdeen Asset Management PLC, Secretary

 

23 January 2013

 


This information is provided by RNS
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