Interim Management Statement

RNS Number : 6233X

Mercantile Investment Trust(The)PLC

08 December 2010

 



The Mercantile Investment Trust plc

Interim Management Statement

For the three months ended 31^st October 2010

This interim management statement relates to the quarter from 1^st August 2010 to 31^st October 2010 and contains information that covers that period, unless otherwise stated. 

Financial performance -  Cumulative Total Return *

	3 months	1 Year	3 Years	5 Years	10 Years
Share price	4.1%	17.2%	-7.3%	57.0%	120.2%
Net asset value	7.4%	20.9%	-7.3%	52.0%	108.5%
Benchmark	10.1%	23.3%	-0.3%	53.9%	102.2%

* total return with net dividends reinvested

Source: JPMAM/Morningstar (www.morningstar.co.uk)

Financial position

	As at 31st October 2010	As at 7th December 2010
Total assets	£1327.5m	£1380.1m
Share price	974.5p	1066.00p
Net asset value per share	1146.5p	1206.31p
Discount	15.0%	11.63%
Gearing	104.6%	112.4%

Share prices shown are closing mid

Net asset values are shown with debt at fair value

Source: JPMAM/Morningstar (www.morningstar.co.uk)

Material events

There are no material events to report.

Material transactions

Changes to share capital

	Issued Ordinary Shares of 25p
As at 31st July 2010	99,055,719
Shares bought back and cancelled	-
Shares issued	-
As at 31st October 2010	99,055,719

Payment of dividends

On 30^th July 2010 a first quarterly dividend of 6.0p per share was paid to shareholders on the register as at the close of business on 2^nd July 2010.

On 1^st November 2010 a second quarterly dividend of 6.0p per share was paid to shareholders on the register as at the close of business on 1^st October 2010.

Portfolio

Top ten holdings as at 31^st October 2010:

Stock name	Sector	Weight %
ITV	Consumer Services	3.1
Premier Oil	Oil & Gas	2.9
Pennon	Utilities	2.4
Cable & Wireless	Telecommunications	2.3
Misys	Technology	2.1
Cable & Wireless Worldwide	Telecommunications	2.0
Tate & Lyle	Consumer Goods	2.0
Jardine Lloyd Thompson	Financials	1.9
Cove Energy	Oil & Gas	1.8
Northumbrian Water	Utilities	1.8

Sector analysis as at 31^st October 2010:

	Portfolio %
Consumer Services	18.3
Financials	17.2
Industrials	11.2
Consumer Goods	9.8
Oil & Gas	7.9
Basic Materials	6.6
Utilities	5.8
Technology	5.3
Telecommunications	5.1
Health Care	3.5
Cash	9.3
Total	100.00

By order of the Board

Juliet Dearlove, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

8^th December 2010

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

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.

Please note that up to date information on the Company, including daily NAV and share prices, factsheets and portfolio information can be found at www.mercantileit.co.uk.

 

END

 

 

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