Interim Management Statement

RNS Number : 4096V

Mid Wynd Inter Inv Trust PLC

27 October 2014

 



Mid Wynd International Investment Trust plc (the "Company")

Interim Management Statement (the "IMS") for the three months ended 30 September 2014

Introduction

The Company has prepared this IMS to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules. The IMS covers the three months ended 30 September 2014.

Investment objective

The Company aims to achieve capital and income growth by investing on a worldwide basis.

Material events

On 9 September 2014 the results for the year ended 30 September 2014 were published along with a proposed final dividend of 2.50 pence per share. The dividend was approved by shareholders at the Annual General Meeting held on 27 October 2014, and will be paid on 31 October 2014 to those shareholders on the register on 3 October 2014.

Material transactions

During the period the Company purchased a total of 534,440 shares into treasury. These shares were bought at a price representing an average discount to the prevailing net asset value of 2.7% which enhanced the net asset value for continuing shareholders by 0.15 pence per share.

Performance to 30 September 2014

	3 months	Since 1 May 2014*	1 year	3 years	5 years
Net asset value**	1.8%	4.0%	6.3%	35.8%	61.3%
Share price	2.2%	3.9%	6.6%	30.2%	97.0%
MSCI All Country Index†	3.0%	5.9%	11.2%	52.4%	59.4%
FTSE World Index†	3.1%	5.9%	11.9%	56.8%	65.1%

*The date Artemis was appointed as investment manager.

** Cum-income with borrowings at fair value.

† In Sterling.

Source: Artemis Fund Managers Limited.

All figures show total returns and assume the reinvestment of dividends.

General financial information

	30 September 2014	30 June 2014
Shareholders' funds	£62.4 million	£62.8 million
Net asset value per share (borrowings at fair value)	284.3p	279.2p
Net asset value per share (borrowings at par)	284.4p	279.3p
Share price	280.5p	274.5p
Discount of share price to net asset value (borrowings at fair value)	(1.3)%	(1.7)%
Gearing	3.5%	5.6%

Top thirty investments

Company	Region	% of investments at 30 September 2014	% of investments at 30 June 2014
Time Warner	North America	2.8%	2.4%
Google	North America	2.7%	2.5%
Union Pacific	North America	2.5%	2.1%
Unibail-Rodamco	Europe	2.3%	2.4%
Ebara	Japan	2.3%	2.4%
Bayer	Europe	2.1%	1.6%
Essilor International	Europe	2.1%	-
Capital One	North America	2.1%	2.3%
China Merchants Holdings International	Developed Asia	2.1%	1.8%
Mapletree Logistics Trust	Developed Asia	2.1%	2.4%
Amerisourcebergen	North America	2.0%	1.8%
East African Breweries	Emerging	2.0%	2.0%
Walgreen	North America	2.0%	1.7%
Actavis	North America	2.0%	1.7%
Shimano	Japan	1.9%	1.6%
Singapore Telecommunications	Developed Asia	1.9%	1.9%
Global Logistic	Developed Asia	1.9%	-
Telenor	Europe	1.9%	-
Louis Vuitton Moet-Hennessy	Europe	1.9%	-
Premier Inc	North America	1.9%	1.5%
VF Corp	North America	1.8%	1.6%
Seven & I Holdings	Japan	1.8%	-
Perrigo Co	North America	1.8%	2.0%
Discovery Communications	North America	1.8%	-
Bank of China	Developed Asia	1.8%	1.7%
Boston Scientific	North America	1.8%	-
Deutsche Annington Immobilien	Europe	1.7%	1.6%
Asics	Japan	1.7%	-
Nestle	Europe	1.7%	-
Visa	North America	1.7%	1.6%

Sector analysis

Sector	% of investments at 30 September 2014	% of investments at 30 June 2014
Health Care	18.3%	12.5%
Consumer Discretionary	18.2%	14.7%
Industrials	18.2%	19.4%
Financials	17.9%	21.3%
Consumer Staples	12.9%	11.3%
Energy	4.7%	7.5%
Information Technology	4.4%	9.4%
Telecommunications Services	3.8%	1.9%
Utilities	1.6%	1.4%
Materials	-	0.6%

 Theme analysis

Theme	% of investments at 30 September 2014	% of investments at 30 June 2014
Healthcare	18.1%	14.2%
Asset Growth	13.2%	17.4%
Energy in a Gas Glut	12.0%	13.5%
Mobile Data & eCommerce	11.5%	11.9%
Retiree Spending Power	10.6%	10.2%
Emerging Market Consumer	10.2%	5.2%
Distribution	7.7%	9.6%
Frontier Investments	5.9%	5.5%
Media Content	5.5%	4.1%
Business Investment	3.5%	6.7%
Emerging Market Financials	1.8%	1.7%

Further information relating to the Company can be found at midwynd.co.uk.

Artemis Fund Managers Limited

Company Secretary

Tel: [phone]

27 October 2014

 

END

 

 

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