Interim Management Statement

RNS Number : 0184E

RCM Technology Trust PLC

03 April 2014

 



RCM Technology Trust PLC                                                        

Interim Management Statement

For the quarter ended 28 February 2014

This interim management statement relates to the quarter from 1 December 2013 to 28 February 2014 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 28 February 2014 and percentage of total gross assets:

Stock Name	Market Value		%
		£
Facebook		8,880,508	5.93
Google		7,379,842	4.92
ServiceNow		6,207,276	4.14
Sunpower		6,129,553	4.09
Microsoft		5,959,657	3.98
Palo Alto Networks		4,515,205	3.01
Alcatel-Lucent		4,321,080	2.88
Salesforce		4,284,657	2.86
Soufun		3,984,410	2.66
Ehealth		3,964,364	2.65
Total Gross Assets		149,864,381

Material events and transactions

During the period no Ordinary Shares were bought back and held in treasury. On 7 March 2014 418,065 Ordinary Shares were reissued from treasury as part consideration for the performance fee payable for the year to 30 November 2013. There were 25,349,941 Ordinary Shares of 25p in issue at the start of the period and 25,768,006 as at the date of this announcement.

                    .

The Annual General Meeting was held on 2 April 2014 and all resolutions put to shareholders were passed.  At the conclusion of the Annual General Meeting David Quysner retired as a Director and Chairman and Robert Jeens has been appointed Chairman.

Financial Performance to 28 February 2014  

			% change
	3m	6m		1yr	3yrs	5yrs
Share price	9.24	20.61		61.65	63.93	219.52
Net Asset Value	9.23	19.00		40.26	43.67	192.30
Benchmark*	4.28	10.34		15.04	30.09	138.11

* Dow Jones World Technology Index (sterling total return)

Source: Datastream

AGI were appointed as managers on 1 May 2007.

Financial position at 28 February and 2 April

		28 February		2 April
Total gross assets		£149,864,381		£142,624,865
Net assets		£143,681,069		£142,467,720
Share price		564.75p		524.50p
Net asset value 1		566.79p		552.89p
Discount 2		0.36%		5.1%

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 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 February/March, half-yearly posted July
AGM		March/April
Price Information		Financial Times, The Daily Telegraph

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  .  Information can also be obtained from the Investor Services' helpline on 0800 389 4696.

By order of the Board.

RCM Technology Trust PLC

199 Bishopsgate

London EC2M 3TY

3 April 2014

 

END

 

 

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