Interim Management Statement

RNS Number : 2288J

F&C Capital & Income Inv Tst PLC

12 July 2013

 



F&C Capital and Income Investment Trust PLC

Interim Management Statement

For the three month period to 30 June 2013

Objective

To secure long-term capital and income growth from a portfolio consisting mainly of FTSE All-Share companies.

Dividends

The Board has declared a second interim dividend for 2013 of 2.15 pence per share paid on 28 June 2013 to shareholders on the register on 7 June 2013.

Performance summary

	At 30 June 2013	At 31 March 2013	% change
Net assets *	£211.73m	£219.29m	-3.4
Net asset value ("NAV") per share *	243.91p	248.67p	-1.9
FTSE All-Share Index - 3 month return	-	-	-2.7
Share price	247.00p	249.50p	-1.0
Premium to NAV per share	1.01%	0.33%
NAV per share total return - 3 month return	-	-	-1.9
FTSE All-Share Index - 3 month total return	-	-	-1.7
Net Debt	6.0%	6.7%	-

* Includes undistributed income

Three month review

Over the three months to 30 June, the Company's NAV per share total return was -1.9% in comparison to a total return of -1.7% from its benchmark, the FTSE All-Share Index.  The share price fell by 1.0% as the premium of 0.33% at 31 March 2013 increased to a premium of 1.01% at 30 June 2013.

The Company's level of borrowing remains at £20m.

During the three months to 30 June 2013 the Company issued shares 200,000 shares at a small premium to NAV to ensure there is no dilution for existing shareholders. Since 30 June 2013 a further 500,000 shares have been issued at a small premium bringing the total number of shares in issue to 88,884,268.

The Company did not purchase any of its own shares in the three months to 30 June 2013. 

Ten largest holdings

At 30 June 2013	At 31 March 2013	Company	Percentage of total investments at   30 June 2013
1	(1)	HSBC	6.4
2	(2)	Royal Dutch Shell	5.8
3	(3)	GlaxoSmithKline	4.8
4	(5)	BP	4.1
5	(6)	Vodafone	3.4
6	(4)	British American Tobacco	3.4
7	(7)	SSE	3.4
8	(8)	Rio Tinto	2.3
9	(9)	AstraZeneca	2.2
10	(10)	BAE Systems	2.1
		Total	37.9

Investment portfolio by sector

	Percentage of total investments at 30 June 2013	Percentage of total  investments at 31 March 2013
Financials	28.2	26.2
Oil & gas	14.3	14.4
Industrials	13.5	13.7
Consumer goods	8.4	9.7
Telecommunications	6.0	5.9
Basic materials	3.7	4.9
Health care	7.7	7.4
Utilities	6.1	6.2
Consumer services	8.6	7.7
Technology	1.3	1.4
Fixed Income	2.2	2.5

Daily and key information

Further information regarding the Company, including monthly factsheets and daily net asset values published since the end of the period, can be found on the internet at www.fandccit.com

Disclaimer

The Board is not aware of any significant events or transactions that have occurred between 30 June 2013 and the date of publication of this statement which would have a material impact on the financial position of the Company.   

This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

By order of the Board

F&C Management Limited, Secretary

12 July 2013

 

END

 

 

IMSGGUWCMUPWGGP