Interim Management Statement

RNS Number : 7834C

Murray Income Trust PLC

04 May 2012

 



Murray Income Trust PLC

Interim Management Statement - 3 months to 31 March 2012

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 2011 to 31 March 2012, 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 principally of UK equities.

Benchmark

FTSE All-Share Index

Material events

On 24 February 2012, the Company posted its half-yearly report, for the six months to 31 December 2011, to shareholders.

A first interim dividend of 5.5p was paid on 13 January 2012 to shareholders on the register at the close of business on 16 December 2011. A second interim dividend of 5.5p was paid on 13 April 2012 to shareholders on the register at the close of business on 9 March 2012.

Material transactions from 31 December 2011 to 4 May 2012

During the period from 31 December 2011 to 4 May 2012, the Company sold 810,000 shares held in its treasury account for a total consideration of £5,358,900. There were no shares purchased during the period, or up to the date of this announcement.  As at 4 May 2012, the Company had 65,499,458 Ordinary shares in issue (excluding treasury shares).

Twenty largest equity holdings at 31 March 2012

	% of net assets
British American Tobacco	6.1
Royal Dutch Shell	5.3
GlaxoSmithKline	5.3
Vodafone	5.2
Centrica	4.9
Unilever	4.2
BP	4.0
AstraZeneca	3.7
Pearson	3.6
Tesco	3.4
HSBC	3.3
BHP Billiton	3.2
Roche	3.1
Wm Morrison Supermarkets	2.7
National Grid	2.7
ENI	2.7
Cobham	2.5
Imperial Tobacco	2.4
Compass	2.3
Prudential	2.1
Total	72.7
Total number of investments	40

Sector allocation as at 31 March 2012

	%
Financials	17.3
Consumer Goods	15.7
Oil & Gas	14.9
Consumer Services	12.8
Healthcare	11.8
Utilities	9.1
Industrials	6.6
Telecommunications	5.1
Basic Materials	3.1
Technology	1.7
Cash	1.9
Total	100.0

General description of Company's financial position and performance as at 31 March 2012

	£m
Gross Assets	463.5
Short term borrowings	40.0
Gearing A	9.4%

^A Gearing is expressed as a percentage of gross assets, which includes current year revenue, divided by shareholders' funds.

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	31/03/12
Share Price	651.5p	(0.4)	5.8	14.1	8.0	91.9	15.3
NAVB	638.4p	0.8	3.2	12.9	5.2	84.7	5.7
FTSE All-Share		(0.9)	6.1	15.0	1.4	67.9	9.5
FTSE 350 Higher Yield		(0.1)	2.2	11.7	5.3	59.6	0.4

Discrete annual performance (%)

	31/03/12	31/03/11	31/03/10	31/03/09	31/03/08
Share Price	8.0	17.9	50.7	(32.2)	(11.3)
NAVB	5.2	10.5	58.8	(35.6)	(11.2)
FTSE All-Share	1.4	8.7	52.3	(29.3)	(7.7)
FTSE 350 Higher Yield	5.3	6.6	42.1	(28.3)	(12.2)

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 Morningstar.

^B Excluding current year revenue.

Other than as set out above, no significant events or transactions have occurred between 31 March 2012 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.

*Neither the Company's website nor the content of any website accessible from hyperlinks on that website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.

For Murray Income Trust PLC

Aberdeen Asset Management PLC, Secretary

4 May 2012

 

END

 

 

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