Interim Management Statement
British Portfolio Trust PLC
Interim Management Statement
For the quarter ended 31 July 2010
This interim management statement relates to the quarter from 1 May 2010 to 31 July 2010 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 objective
The objective of British Portfolio Trust plc is to provide growth in capital and income through a policy of investing in UK listed companies. Such equities will consist mainly of shares in FTSE 100 companies, but will also include medium-sized and smaller companies.
Portfolio
Top ten holdings at 30 July 2010 and percentage of total gross assets
|
£ |
% |
|
|
Vodafone |
2,977,236 |
6.33 |
|
GlaxoSmithKline |
2,922,152 |
6.21 |
|
HSBC |
2,725,480 |
5,79 |
|
BP |
2,599,728 |
5.52 |
|
BG Group |
1,879,008 |
3.99 |
|
Unilever |
1,505,430 |
3.20 |
|
Royal Dutch Shell "B" |
1,505,386 |
3.20 |
|
Rio Tinto |
1,442,976 |
3.07 |
|
Cobham |
1,349,684 |
2.87 |
|
Reed Elsevier |
1,222,426 |
2.60 |
Material events and transactions
During the period 1,028,000 ordinary shares were purchased for cancellation, and since 31st July 2010 to date a further 290,000 ordinary shares have been purchased for cancellation.
Financial Performance to 30 July 2010
|
|
|
|
% change |
|
|
|
|
|
3m |
6m |
1yr |
3yrs |
5yrs |
|
|
Share price |
-2.73 |
3.37 |
27.58 |
-21.94 |
4.52 |
|
|
Net Asset Value |
-4.35 |
3.26 |
26.98 |
-21.72 |
1.58 |
|
|
Benchmark* |
-4.40 |
4.04 |
19.35 |
-7.37 |
22.69 |
|
Source: Datastream
Total return with net dividends reinvested and net of fees.
* FTSE All-Share Total Return
Financial position at 30 July and 3 September 2010
|
|
|
30 July |
|
3 September |
|
Total gross assets |
|
£47,057,643 |
|
£47,563,248 |
|
Net assets |
|
£43,216,737 |
|
£44,242,662 |
|
Share price |
|
130p |
|
133p |
|
Net asset value1 |
|
135.81p |
|
140.32p |
|
Discount2 |
|
-4.3% |
|
-5.2% |
|
Gearing 3 |
|
5.2% |
|
7.3% |
|
Historic Dividend Yield |
|
3.9% |
|
3.8% |
1 Debt at book value on an income basis
Capital & income net asset values are calculated and announced daily.
2 The discount is the difference between the share price and the NAV (debt at book value) per share expressed as a percentage of the NAV per share.
3 Actual gearing - net of cash.
Company Information
|
Launch date |
|
2001 |
|
EPIC |
|
BPO |
|
Year end |
|
31 October |
|
Report and Accounts |
|
Final posted January, half-yearly posted June |
|
AGM |
|
February |
|
Dividends |
|
September and March |
|
Price Information |
|
Financial Times, The Daily Telegraph, www.rcm.com/investmenttrusts |
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 via www.britishportfoliotrust.co.uk. Investor Services can be contacted on 020 7065 1407 and information can also be obtained from the Manager's helpline on 0800 317 573.
By order of the Board.
British Portfolio Trust PLC
155 Bishopsgate
London EC2M 3AD
7th September 2010
This information is provided by RNS
COMPANIES COVERED: