Interim Management Statement

RNS Number : 1408B

Edinburgh Worldwide Inv Trust PLC

27 February 2014

 



Edinburgh Worldwide Investment Trust plc

Interim Management Statement - 3 Months to 31 January 2014

Edinburgh Worldwide aims for capital growth from a global portfolio of initially immature entrepreneurial companies, typically with a market capitalisation of less than $5bn at time of initial investment, which are believed to offer long-term growth potential.

Review of the Period		¾  Over the quarter, the Company's net asset value* total return was 1.4%, compared to a total return decline of 3.1% in the comparative index. The share price total return was 0.4%. ¾  At the Annual General Meeting on 27 January 2014 shareholders approved changes to broaden the Company's investment policy. Since 31 January 2014 the reorganisation of the portfolio has continued. The Top 10 Holdings as at 28 February 2014 will be available on the Company's website in due course. ¾  The final dividend of 1.50p per share was approved at the Annual General Meeting on 27 January 2014 and paid on 6 February 2014. * net asset value calculated on a cum income basis, with debt at fair value.
Total Return Performance			%
			3 Months	1 Year		3 Years		5 Years
		Share Price	0.4	28.2		45.7		197.3
		NAV	1.4	23.9		36.2		169.8
		Comparative Index*	-3.1	9.3		23.7		89.5
		Source: Morningstar *Comparative Index: MSCI All Countries World Index (in sterling terms). From 1 February 2014 performance will be measured against the S&P Citigroup Global Small Cap index (in sterling terms), with historic data chain linked. Past performance is not a guide to future performance
General Information					31/01/14		31/10/13
		Share price			405.0p		405.0p
		Net asset value per share† (after deducting borrowings at fair value)			436.7p		432.3p
		Net asset value per share† (after deducting borrowings at par)			437.2p		432.9p
		Discount (borrowings at fair value)			7.3%		6.3%
		Discount (borrowings at par)			7.4%		6.4%
		Total assets (before deduction of  borrowings)			£243.5m		£241.9m
		Total borrowings (at fair value)			£29.5m		£30.1m
		Total borrowings (at par)			£29.3m		£29.8m
		Gearing**			6.0%		7.8%
		† 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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