Interim Management Statement

RNS Number : 6717L

Edinburgh Worldwide Inv Trust PLC

14 August 2013

 

Interim Management Statement – 3 Months to 31 July 2013

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		¾  Over the quarter, the Company's net asset value* total return was 13.1%, compared to a total return of 4.3% in the comparative index. The share price total return was 7.4%. ¾  The interim dividend of 0.50p per share was paid on 18 July 2013 to shareholders on the register on 21 June 2013. ¾  Over the period, changes to the Top 20 Equity Holdings included an addition to Housing Development Finance Corporation and a reduction in Amazon. Other changes were as a result of market movements. * net asset value calculated on a cum income basis, with debt at fair value.
Top Twenty Equity Holdings* (as a % of total assets)			31/07/13 %	30/04/13 %
		Amazon.com	6.9	7.6
		Tencent	5.4	4.4
		Apple	5.0	5.4
		Kering (PPR)	4.9	5.1
		Google	4.5	4.6
		Whole Foods Market	4.2	3.6
		Baidu	4.2	2.9
		Illumina	4.0	3.5
		eBay	3.6	4.0
		Inditex	3.4	3.7
		Salesforce	3.4	3.4
		Facebook	3.3	2.7
		Hermès	2.9	3.2
		Novozymes	2.9	3.2
		Atlas Copco	2.6	2.8
		Intuitive Surgical	2.5	3.4
		TripAdvisor	2.4	1.8
		LinkedIn Corp	2.0	2.0
		Housing Development Finance Corporation	1.8	2.0
		L'Oréal	1.8	2.1
Total			71.7	71.4

*      TripAdvisor has entered the Top Twenty Equity Holdings and Lululemon Athletica has dropped out.

Total Return Performance			%
			3 Months	1 Year		3 Years		5 Years
		Share Price	7.4	30.4		38.6		54.2
		NAV	13.1	32.3		45.2		58.0
		Comparative Index*	4.3	25.2		44.3		61.9
		Source: Morningstar *Comparative Index: MSCI All Countries World Index (in sterling terms). Past performance is not a guide to future performance
General Information					31/07/13		30/04/13
		Share price			343.3p		320.0p
		Net asset value per share† (after deducting borrowings at fair value)			402.7p		356.4p
		Net asset value per share† (after deducting borrowings at par)			403.5p		357.4p
		Discount (borrowings at fair value)			14.8%		10.2%
		Discount (borrowings at par)			14.9%		10.5%
		Total assets (before deduction of  borrowings)			£228.5m		£205.3m
		Total borrowings (at fair value)			£31.2m		£30.6m
		Total borrowings (at par)			£30.8m		£30.2m
		Gearing**			9.4%		14.3%
		† These figures have been calculated using the AIC cum income basis (includes current financial year retained income). Dividends are not reinvested. ** Calculated per AIC (debt at book value, less cash, divided by shareholders' funds). This interim management statement and up to date NAV and Share Price information are available at 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  0131 275 3276  [e-mail]

 

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