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Murray Inc Trust PLC (MUT)

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Tuesday 26 October, 2010

Murray Inc Trust PLC

Interim Management Statement

RNS Number : 0272V
Murray Income Trust PLC
26 October 2010
 



Murray Income Trust PLC

Interim Management Statement - 3 months to 30 September 2010

 

 

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 July 2010 to 30 September 2010, 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 from 1 July to 26 October 2010

On 24 September 2010, the Company posted its annual report and accounts to 30 June 2010, and Notice of Annual General Meeting, to shareholders.  The Company's Annual General Meeting was held in London on 26 October 2010, at which all resolutions were passed.

 

Material transactions from 1 July to 26 October 2010

The Company has entered into a new revolving loan facility of £60 million, to follow on from its £45 million loan facility, which expired on 1 October 2010. The £60 million loan facility expires on 17 October 2011.

 

 

Twenty largest equity holdings at 30 September 2010


% of net assets

Centrica

5.3

Royal Dutch Shell 'B'

5.3

British American Tobacco

5.1

Vodafone

4.9

HSBC

4.9

BP B

4.4

GlaxoSmithKline B

4.1

AstraZeneca

4.0

National Grid

3.6

Aviva

3.3

Unilever B

3.3

Tesco

3.1

Wm Morrison Supermarkets

2.8

AMEC

2.7

Standard Chartered Bank

2.5

BHP Billiton

2.4

Provident Financial

2.3

Whitbread

2.3

Close Brothers

2.3

ENI                                           

1.9

Total 

70.5

Total number of investments

41

 

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

 

 

Sector allocation as at 30 September 2010


%

Financials

22.5

Oil & Gas

13.9

Consumer Services

13.7

Consumer Goods

10.7

Healthcare

9.9

Utilities

8.5

Cash

7.2

Telecommunications

5.6

Industrials

4.1

Basic Materials

2.5

Technology

1.4

Total

100.0



 

General description of Company's financial position and performance as at 30 September 2010


£m

Gross Assets

425.5

Short term borrowings

35.0



Gearing

9.0%

 

 

Cumulative performance (%)


as at

1 month

3 months

6 months

1 year

3 years

5 years


30/09/2010







Share Price

580.0p

3.5

10.9

6.3

17.7

(2.9)

23.0

NAV A

598.8p

7.4

14.4

2.3

14.9

(7.6)

17.4

FTSE All-Share


6.5

13.6

0.2

12.5

(3.1)

24.7

FTSE 350 Higher Yield


4.9

12.7

(1.6)

5.2

(14.0)

4.5

 

Discrete performance (%)

 Year ending

30/09/2010

30/09/2009

30/09/2008

30/09/2007

30/09/2006

Share Price

17.7

8.3

(23.8)

9.1

16.1

NAV A

14.9

8.1

(25.6)

9.4

16.2

FTSE All-Share

12.5

10.8

(22.3)

12.2

14.7

FTSE 350 Higher Yield

5.2

5.3

(22.3)

8.3

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 Times and Morningstar.

 

A Excluding current year revenue.

 

Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 30 September 2010 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

26 October 2010


This information is provided by RNS
The company news service from the London Stock Exchange
 
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