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Murray Inc Trust PLC (MUT)

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Thursday 28 April, 2011

Murray Inc Trust PLC

Interim Management Statement

RNS Number : 4521F
Murray Income Trust PLC
28 April 2011
 



Murray Income Trust PLC

Interim Management Statement - 3 months to 31 March 2011

 

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 2011, 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 25 February 2011, the Company posted its half-yearly report, for the six months to 31 December 2010, to shareholders.

 

A first interim dividend of 5.5p per ordinary share for the year to 30 June 2011 was paid on 14 January 2011 to shareholders on the register at the close of business on 17 December 2010. A second interim dividend of 5.5p per ordinary share was paid on 15 April 2011 to shareholders on the register at the close of business on 11 March 2011.

 

Material transactions from 31 December 2010 to 28 April 2011

There were no shares purchased during the period, or up to the date of this announcement.  As at 27 April 2011, the Company had 64,689,458 Ordinary shares in issue.

 

Twenty largest equity holdings at 31 March 2011


% of net assets

Royal Dutch Shell 'B'

5.4

Vodafone

5.3

British American Tobacco

5.2

Centrica

5.0

BP

4.1

GlaxoSmithKline

3.9

HSBC

3.8

AstraZeneca

3.8

National Grid

3.5

Unilever

3.3

Aviva

3.2

Tesco

3.2

Pearson

2.8

ENI

2.8

BHP Billiton

2.6

Morrisons

2.5

Provident Financial

2.5

Close Brothers

2.3

Cobham

2.2

Standard Chartered

2.2

Total 

69.6

Total number of investments

44

 

 

Sector allocation as at 31 March 2011


%

Financials

21.6

Oil & Gas

17.5

Consumer Goods

13.8

Consumer Services

13.4

Healthcare

9.7

Utilities

8.5

Telecommunications

5.3

Industrials

4.9

Basic Materials

3.8

Technology

1.6

Cash

(0.1)

Total 

100.0

 

General description of Company's financial position and performance as at 31 March 2011

 


£m

Gross Assets

458.0

Short term borrowings

40.0



Gearing A

9.6%

 

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


31/03/11







Share Price

632.0p

0.2

0.9

10.9

17.9

20.5

19.2

NAVB

635.9p

(1.0)

0.0

8.0

10.5

13.0

11.6

FTSE All-Share


(0.8)

1.0

8.5

8.7

17.0

20.0

FTSE 350 Higher Yield


(1.4)

2.4

8.3

6.6

8.6

2.6

 

Discrete annual performance (%)


31/03/11

31/03/10

31/03/09

31/03/08

31/03/07

Share Price

17.9

50.7

(32.2)

(11.3)

11.6

NAVB

10.5

58.8

(35.6)

(11.2)

11.1

FTSE All-Share

8.7

52.3

(29.3)

(7.7)

11.1

FTSE 350 Higher Yield

6.6

42.1

(28.3)

(12.2)

7.7

 

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 2011 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

28 April 2011


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