Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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3i UK Select Trust (UKT)

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Wednesday 18 August, 1999

3i UK Select Trust

Interim Results

17 August 1999

The unaudited figures for the six months to 30 June 1999 have been drawn up
under The Statement of Recommended Practice for Investment Trusts and have
been prepared on the basis of the accounting policies set out in the company's
annual financial statements for the year ended 31 December 1998.

     The unaudited results below cover the six months ended 30 June 1999

               Six months ended            Year ended       Six months ended
         30/06/1999 (Unaudited)  31/12/1998 (Audited)  30/06/1998 (Unaudited)
         Revenue  Capital Total  Revenue Capital Total Revenue Capital Total
         £,000    £'000   £'000  £'000   £,000   £'000 £'000   £'000   £'000

Gains on 
investments   -    7,901   7,901  -      7,755   7,755  -      12,587  12,587
Income     1,379   -       1,379  2,225  -       2,225  1,240  -        1,240
managers'    (54)   (161)   (215)  (102)  (308)   (410)   (54)   (160)   (214)
expenses    (101)   -       (101)  (227)  -       (227)  (113)  -        (113)

Net return 
costs      1,224    7,740  8,964  1,896   7,447  9,343   1,073  12,427  13,500

Payable      (66)    (196)  (262)  (132)   (394)  (526)    (65)  (196)    (261)

RETURN ON  1,158    7,544  8,702  1,764   7,053   8,817  1,008  12,231  13,239

Interim    (479)    -      (479) (1,507)  -      (1,507)  (469)  -       (469)
of .83p
Net savings
due to share   -      565   565   -       1,080   1,080   -        845    845

           (479)      565    86                           (469)    845    376

TRANSFER    679     8,109 8,788     257   8,133   8,390    539  13,076 13,615

Return per  2.01p  13.08p 15.09p  3.03p  12.13p   15.16p  1.74p  21.07p 22.81p

                                           BALANCE SHEET
                                          At 30 June 1999

                                   30.6.99     31.12.98      30.6.99
                                  Unaudited   Audited       Unaudited
                                  £'000       £'000         £'000

Investments at market value       83,049      76,964        85,657
Net current assets/(liabilities)   5,982       3,792         1,571
Creditors: amounts falling
due after more than one year      (7,200)     (7,200)       (7,200)
                                  81,831      73,556        80,028
Called up share capital            5,775       5,766         5,866
Capital reserves                  72,998      65,412        71,501
Revenue reserve                    3,058       2,378         2,661
                                  81,831      73,556        80,028
Net assets per 10p 
ordinary share                     141.7p      127.6p       136.4p

This  is  the  first interim report from 3i UK Select Trust Limited, formerly
The Investment Trust of Guernsey Limited.

I  am  happy  to report that over the six months to 30 June 1999 the  net
asset value  total return to shareholders, which combines capital growth and
dividend income, was 11.8%. The total return of the FTSE All Share index over
the period, the  performance benchmark set by the Board was 11.7%. Excluding
income  the  net asset  value  per  share rose 10.3% which can be compared to
the  10.2%  capital return  of  the  All Share index. Net revenue per share,
which  was  boosted  by special  dividends which will not recur, increased by
15.5% to 2.0p.  The  board will  consider the payment of a special dividend at
the end of the year  and  in the meantime are declaring an interim dividend of
0.83p, an increase of 3.7%.

The global economic outlook has improved sharply in the last six months and this
has  eased some valuation pressures in the UK and Europe. However, the valuation
of  the  US  equity market continues to look full and global bond  markets
seem uncertain.  With these two factors as important caveats the Board remains
cautiously optimistic.


a d v e r t i s e m e n t