Interim Management Statement

RNS Number : 0355R

Murray Income Trust PLC

23 April 2009

 



Murray Income Trust PLC

Interim Management Statement - 3 months to 31 March 2009

To the members of Murray Income Trust PLC

This interim management statement has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

This interim management statement relates to the period from 1 January 2009 to 31 March 2009, and contains information that covers this period and up to the date of publication of this interim management statement, unless otherwise specified.

Investment objective

To achieve a high and growing income combined with capital growth through investment in a portfolio of UK equities.

Benchmark

FTSE All-Share Index

Material events 

On 26 February 2009, the Company posted its interim report, for the six months to 31 December 2008, to shareholders. A first interim dividend of 5.5p per ordinary share for the year to 30 June 2009 was paid on 16 January 2009 to shareholders on the register at the close of business on 17 December 2008. A second interim dividend of 5.5p per ordinary share was paid on 17 April 2009 to shareholders on the register at the close of business on 11 March 2009.

Material transactions from 31 December 2008 to 23 April 2009

During the period to 31 March 2009, the Company issued 100,000 ordinary shares of 25p each out of treasury.  As at the date of this statement, no further issuances or buybacks have taken place since then. As at 23 April 2009, the Company's issued ordinary share capital is 64,689,485 ordinary shares of 25p each.  

Twenty largest equity holdings at 31 March 2009

	% of net assets
BPA	7.0
Royal Dutch Shell 'B'	6.4
AstraZeneca	5.4
British American TobaccoA	5.0
GlaxoSmithKline	5.0
Vodafone	5.0
Centrica	4.5
HSBCA	3.6
National Grid	3.5
Tesco	3.2
Imperial Tobacco	2.8
Wm Morrison Supermarkets	2.8
Ladbrokes	2.4
Associated British Foods	2.3
Unilever	2.3
Whitbread	2.3
Arriva	2.1
Cobham	2.1
AMEC	2.0
Mothercare	2.0
Total	71.7
Total number of investments	42

A Consolidates the equity and reverse convertible holdings in the same underlying security.

Sector allocation as at 31 March 2009

	%
Consumer Services	18.2
Oil & Gas	14.6
Financials	15.5
Consumer Goods	13.7
Healthcare	9.8
Utilities	7.6
Industrials	6.7
Telecommunications	5.7
Basic Materials	2.7
Cash	5.5
Total	100.0

General description of Company's financial position and performance as at 31 March 2009

	£m
Gross Assets	293.5
Short term borrowings	35.0
Actual gearing	13.5%

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	31/03/2009
Share Price	392.8p	-1.8	-11.5	-20.4	-32.2	-32.9	13.9
NAVB	399.5p	1.4	-15.6	-23.5	-35.5	-36.4	0.6
FTSE All-Share		3.3	-9.1	-18.3	-29.3	-27.5	7.2
FTSE 350 Higher Yield		1.4	-14.7	-20.8	-28.3	-32.2	1.3

Discrete annual performance (%)

	31/03/09	31/03/08	31/03/07	31/03/06	31/03/05
Share Price	-32.2	-11.3	11.6	33.1	27.5
NAVB	-35.5	-11.2	11.1	29.8	21.9
FTSE All-Share	-29.3	-7.7	11.1	28.0	15.6
FTSE 350 Higher Yield	-28.3	-12.2	7.7	26.0	18.6

Total Return; NAV to NAV net income reinvested. GBP. Share price total return is on a mid-to-mid basis. 

Dividend calculations are to reinvest as at the ex-dividend date. NAV returns based on NAVs with debt valued at par.

Source: Aberdeen Asset Managers Limited, Factset and Fundamental Data.

B Excluding current year revenue.

Other than as set out above, no significant events or transactions have occurred between 31 March 2009 and the date of publication of this interim management statement which would have a material impact on the financial position of the Company. For latest performance information, please refer to the Company's website, www.murray-income.co.uk.

Please note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise. Investors may not get back the amount they originally invested.

For Murray Income Trust PLC

Aberdeen Asset Management PLC, Secretary

23 April 2009

 

END

 

 

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