Interim Management Statement

RNS Number : 9239M

Edinburgh Worldwide Inv Trust PLC

06 February 2009

 

EDINBURGH WORLDWIDE INVESTMENT TRUST PLC

Interim Management Statement - 3 months to 31 January 2009

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 0.1% compared to a fall in the benchmark of 0.6% while the share price increased by 1.9%. All figures are total return.
	The special dividend of 0.70p and final dividend of 1.50p per share was approved at the Annual General Meeting on 26 January 2009 and was paid on 2 February 2009.
	Over the period, changes to the Top 20 Equity Holdings included: an addition to Banco Santander and a part sale of SAP, which took it out of the Top 20, and part sales of Vale and L'Oreal. Other changes to the Top 20 Equity Holdings were due to market movements. Outwith the Top 20, a new investment was made in Berkshire Hathaway.
	The multi-currency loan was drawn down in the following currencies at 31 January 2009: US dollar 11.9m, Swiss franc 14.4m, Yen 1.1 bn (31 October 2008: Swiss franc 18.2m, Yen 1.9bn).

Top Twenty Equity Holdings
Name	% of total assets at 31/01/09	% of total assets at 31/10/08		Name	% of total assets at 31/01/09	% of total assets at 31/10/08
Petrobras	6.6	6.1		Gazprom	2.8	3.8
Atlas Copco	4.6	4.9		Banco Santander	2.7	2.5
Amazon.com	4.5	3.9		Walgreen	2.7	2.2
Nintendo	4.4	3.9		Deere	2.6	2.6
Canon	3.8	4.2		ABB	2.6	2.3
Vale (CVRD)	3.6	3.7		L'Oreal	2.5	3.3
Google	3.4	3.3		Sandvik	2.3	2.6
China Mobile	2.9	2.6		Novozymes	2.3	1.8
Teva Pharmaceuticals	2.9	2.7		Apple	2.3	2.4
Porsche	2.9	4.0		Straumann	2.2	2.2
				Total	64.6	65.0

Total Return Performance 

	%
	3 Months	1 Year	3 Years	5 Years
Share Price	1.9	-39.2	-41.0	8.2
NAV	0.1	-37.4	-33.1	6.0
Benchmark*	-0.6	-20.1	-14.8	16.1

Source: Thomson Financial Datastream.

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

Past performance is not a guide to future performance

General Information
	31/01/09	31/10/08
Share Price	141.75p	141.00p
Total assets (before deduction of  borrowings)	£107.2m	£105.9m
Total borrowings	£25.3m	£21.6m
Equity shareholder's funds	£81.9m	£84.3m
Net asset value per share	167.03p	171.94p
Discount	15.1%	18.0%
Potential Gearing	31.0%	25.6%
Actual Gearing	25.4%	21.7%

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

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

 

END

 

 

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