Interim Management Statement

RNS Number : 8857A

Edinburgh Worldwide Inv Trust PLC

08 February 2011

 

EDINBURGH WORLDWIDE INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 January 2011

Edinburgh Worldwide aims to achieve long term capital growth by investing in listed companies throughout the world. It tends to hold shares in around forty companies and income is not a consideration when selecting investments. 

Review of the period

·	Over the quarter, the Company's net asset value increased by 5.0% compared to an increase in the comparative index of 6.5% while the share price increased by 3.6%. All figures are total return.
·	The final dividend of 1.50p per share was approved at the Annual General Meeting on 3 February 2011.
·	Over the period, changes to the Top 20 Equity Holdings included an addition to Intuitive Surgical. Other changes to the Top 20 constituents were due to market movements. Outwith the Top 20, new investments were made in Autonomy Corporation, iRobot and C-Trip. The investments in Vestas Windsystems and Itau Unibanco were sold.

Top Twenty Equity Holdings
Name	% of total assets at 31 January 2011	% of total assets at 31 October 2010		Name	% of total assets at 31 January 2011	% of total assets at 31 October 2010
Amazon.com	6.8	6.9		Deere	3.1	3.1
Baidu	5.5	5.8		Tencent	2.9	2.7
Apple	4.4	4.1		Novozymes	2.7	2.7
Vale (CVRD)	4.4	4.7		Whole Foods Market	2.6	2.1
eBay	3.8	3.9		Sandvik	2.5	2.9
Petrobras	3.8	4.3		ABB	2.5	2.2
Atlas Copco	3.7	5.0		Banco Santander	2.4	2.6
PPR	3.5	3.5		Intuitive Surgical	2.4	1.7
Google	3.2	3.4		Gazprom	2.3	1.9
First Solar	3.1	2.4		New Oriental	2.0	2.3
				Total	67.6	68.2

Total Return Performance

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	3.6	29.9	24.1	20.5
NAV	5.0	27.3	24.4	32.9
Comparative Index*	6.5	20.2	22.4	30.6

Source: Thomson Reuters Datastream / Baillie Gifford & Co.

*Comparative Index: MSCI All Countries World Index (in sterling terms).

Past performance is not a guide to future performance

General Information
	31 January 2011	31 October 2010
Share Price	283.50p	275.00p
Total assets (before deduction of  borrowings)	£184.7m	£177.7m
Total borrowings	£24.9m	£24.8m
Equity shareholder's funds	£159.8m	£152.9m
Net asset value per share*	326.16p	312.04p
Discount	13.1%	11.9%
Potential Gearing	15.6%	16.2%
Actual Gearing	13.7%	13.6%

*These figures have been calculated using the AIC cum income basis (includes current financial year retained income).

This interim management statement and up to date NAV and Share Price information are available on the Managers' website www.edinburghworldwide.co.uk†

†Neither the contents of the Managers' website nor the contents of any website accessible from hyperlinks on the Managers' website (or any other website) is incorporated into, or forms part of, this announcement.

For further information contact:-  Anzelm Cydzik on 0131 275 3276

 

END

 

 

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