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UK Select Trust Ld (UKT)

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Friday 06 July, 2012

UK Select Trust Ld

Statement re Update of Portfolio

RNS Number : 1578H
UK Select Trust Limited
06 July 2012





UK Select Trust Limited (the "Company")


Portfolio update


6 July 2012


In light of the proposed appointment of Threadneedle Asset Management Limited ("Threadneedle") as a replacement investment manager for the Company following the resignation of Scottish Widows Investment Partnership Limited ("SWIP") which is expected to take effect on or around 31 July 2012, the Company has undertaken a degree of portfolio realignment, realising less liquid stocks comprising approximately 20 per cent. of its portfolio.  Cash realised from these disposals has been reinvested in more liquid stocks (generally constituents of the FTSE 250 Index) that are both favoured by SWIP and consistent with Threadneedle's Equity Alpha Strategy.


As at close of business on 5 July, the top ten holdings in the Company's portfolio were as follows:


AstraZeneca                8.0%

Reed Elsevier              5.2%

BP                                5.1%

Resolution                   5.0%

DS Smith                      4.4%

GlaxoSmithKline          4.2%

Essar Energy               4.1%

Berkeley Group           3.9%

Imperial Tobacco        3.3%

Royal Dutch Shell        3.1%   


Top ten as a percentage of NAV - 46.4 per cent.


The Company currently holds 5.2 per cent. of the portfolio in cash.




Kleinwort Benson (Channel Islands) Fund Services Ltd         +44 (0) 1481 710607

(Company Secretary)


Canaccord Genuity Limited                                                    +44 (0) 20 7523 8000

(Broker and Adviser)

Andrew Zychowski / Lucy Lewis



Canaccord Genuity Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting as adviser to UK Select Trust Limited and is acting for no-one else in connection with the contents of this announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Canaccord Genuity Limited nor for providing advice in connection with the contents of this announcement  or any other matter referred to herein.  Canaccord Genuity Limited is not responsible for the contents of this announcement. This does not exclude or limit any responsibilities which Canaccord Genuity Limited may have under the Financial Services and Markets Act 2000 or the regulatory regime established thereunder.


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