Interim Management Statement

RNS Number : 2425Q

RCM Technology Trust PLC

14 October 2011

 



RCM Technology Trust PLC              

Interim Management Statement

For the quarter ended 31 August 2011

This interim management statement relates to the quarter from 1 June 2011 to 31 August 2011 and contains information for that period unless otherwise stated. This statement is produced to provide information in accordance with the UK Listing Authority's Disclosure and Transparency Rules.

Investment policy and benchmark

The Company invests principally in the equity securities of quoted technology companies on a worldwide basis with the aim of achieving long-term capital growth.  The Company's benchmark is the Dow Jones World Technology Index (sterling total return).

Portfolio

Top ten holdings at 31 August 2011 and percentage of total gross assets:

	£		%
Amazon		4,876,469	6.03
Apple		4,707,763	5.82
Quanta Services		3,389,438	4.19
Google		3,381,704	4.18
Baidu.com		3,301,239	4.08
Salesforce.com		2,676,441	3.31
Ctrip.com		2,382,597	2.94
Qlik Technologies		2,311,097	2.86
Netflix		2,132,877	2.64
Ericsson		2,042,207	2.52
Total gross assets		£80,936,952

Material events and transactions in the period

No shares were purchased for cancellation or for holding in treasury in the period and therefore the share capital at the beginning and end of the period was 22,787,962 Ordinary Shares, with a further 924,503 Ordinary Shares held in treasury, and 4,590,415 Subscription Shares.

Material events and transactions since 31 August

There have been no material events or transactions since the period end.

Financial Performance to 31 August 2011

			% change
	3m	6m		1yr	3yrs		5yrs
Share price	-6.4	-6.7		19.2	39.3		56.3
Net Asset Value	-11.4	-10.5		15.2	43.0		59.6
Benchmark*	-9.2	-11.2		10.0	21.9		37.0

* Dow Jones World Technology Index (sterling total return)

Source: Datastream

RCM were appointed as managers on 1 May 2007.

Financial position at 31 August and 12 October 2011

		31 August		12 October
Total gross assets		£80,936,952		£81,412,230
Net assets		£80,431,375		£81,227,400
Share price		321.5		319.0
Net asset value (undiluted)1		353.0		356.5
Net asset value (diluted) 1		338.0		340.7
Discount 2		8.9%		10.5%

¹  Net asset values per ordinary share are calculated and announced daily.

² The discount is the difference between the share price and the NAV per share (undiluted) expressed as a percentage of the NAV per share.

Company Information

Launch date		1995
EPIC		RTT
Year end		30 November
Report and Accounts		Final posted late February / early March, half-yearly posted July
AGM		March / April
Price Information		Financial Times, The Daily Telegraph
		www.rcmtechnologytrust.co.uk

Investor information

Further up to date information, including Net Asset Values and share prices, and the latest available factsheets and portfolio information, is provided on the Manager's website, which can be accessed at www.rcmtechnologytrust.co.uk  or at www.rcm.com/investmenttrusts.co.uk .  Information can also be obtained from the Investor Services' helpline on 0800 389 4696.

By order of the Board.

RCM Technology Trust PLC

155 Bishopsgate

London EC2M 3AD

14 October 2011

 

END

 

 

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