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Perpetual Inc&Growth (PLI)

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Friday 20 January, 2012

Perpetual Inc&Growth

Interim Management Statement


                               Perpetual Income and Growth Investment Trust plc

                         Interim Management Statement                          

                  for the Three Months ended 31 December 2011                   

Material Events

No material events, specifically in relation to the Company, occurred during
the period.

Dividends

During the period, a second interim dividend of 2.4p per ordinary share was
paid in respect of the year ending 31 March 2012. This dividend was paid on 28
December 2011 to shareholders on the register on 9 December 2011.

Performance - Total Return

                               3 Months      1 Year      3 Years      5 Years
                                                                             
Share Price                        5.9%        4.1%        44.3%        22.6%
                                                                             
Net Asset Value                    5.6%        4.7%        45.2%        15.8%
                                                                             
FTSE All-Share Index               8.4%       -3.5%        43.9%         6.2%

Source: Thomson Reuters

Share Price and Discount

                                       For the Three Months Ended 31 Dec 2011
                                                                             
                     As at 31 Dec 2011         High          Low      Average
                                                                             
Ordinary shares mid-           253.00p      263.00p      236.50p      250.33p
                                                                             
market price (pence)                                                         
                                                                             
Discount                         1.21%                                       
                                                                             
Subscription shares             33.00p       41.50p       32.50p       35.25p
                                                                             
mid-market price                                                             
                                                                             
(pence)                                                                      

Source: Thomson Reuters

Assets and Gearing

                                        31 Dec 2011                         
                                                                            
Total Gross Assets (£m)                       649.9                         
                                                                            
of which cash (£m)                                -                         
                                                                            
Borrowings (£m)                                96.9                         
                                                                            
Cum income Net Asset Value - diluted          256.1                         
                                                                            
(pence)                                                                     
                                                                            
Gross Gearing                                   18%                         
                                                                            
Net Gearing                                     18%                         

`Gross Gearing' reflects the amount of gross borrowings in use by the company
and takes no account of any cash balances. It is based on gross borrowings as a
percentage or shareholders' funds.

`Net Gearing' reflects the amount of net borrowings invested, i.e. borrowings
less cash and UK government bonds. It is based on net borrowings as a
percentage of shareholders' funds.

A nil gearing percentage, or a `nil', shows a company is ungeared. A negative
percentage indicates that a company is not fully invested.

Sector Breakdown of Portfolio

                          31 Dec 2011                   
                                                        
Consumer Goods                  19.9%                   
                                                        
Healthcare                      18.4%                   
                                                        
Industrials                     15.1%                   
                                                        
Financials                      12.5%                   
                                                        
Telecommunications              11.7%                        
                                                        
Utilities                        9.1%                   
                                                        
Consumer Services                8.8%                   
                                                        
Oil & Gas                        4.1%                   
                                                        
Basic Materials                  0.4%                   



Top Ten Holdings


    Investment                                                   % of Portfolio
                                                                               
1   Reynolds American (US Common Stock)                                    5.3%
                                                                               
2   Imperial Tobacco                                                       5.3%
                                                                               
3   GlaxoSmithKline                                                        5.1%
                                                                               
4   British American Tobacco                                               4.8%
                                                                               
5   Vodafone                                                               4.7%
                                                                               
6   BT                                                                     4.5%
                                                                               
7   BG                                                                     4.2%
                                                                               
8   AstraZeneca                                                            4.1%
                                                                               
9   Roche (Swiss Common Stock)                                             3.8%
                                                                               
10  BAE Systems                                                            3.1%

All Ordinary shares unless otherwise stated.


Changes to Share Capital

                          Ordinary Shares of 10p  Subscription 
                                   each                        
                                                     Shares    
                                                               
                               Issued  Treasury                
                                                               
As at 30 Sep 2011         213,085,780      0         16,987,622
                                                               
Ordinary shares bought              0      0           n/a     
back                                                           
                                                               
Ordinary shares issued        390,147      0           n/a     
                                                               
Subscription shares                 0      0            0      
exercised                                                      
                                                               
As at 31 Dec 2011         213,475,927      0         16,987,622  

During the period 390,147 ordinary shares of 10p each in the company were
issued and allotted at a price of 258p per ordinary share. The new ordinary
shares rank pari passu with the existing shares and trade on the London Stock
Exchange's main market for listed securities.

The Company has authority to buy back shares (for cancellation or into
treasury) and to issue new shares (disapplying pre-emption rights), in each
case within specified limits. The Company expects to renew these authorities
each year.

Administration

The Company's ordinary shares are listed on the London Stock Exchange and the
price is published in the Financial Times, Daily Telegraph, The Times, The
Independent and The Evening Standard.

The net asset value of the Company is calculated on a daily basis and can be
viewed on the London Stock Exchange website at www.londonstockexchange.com.

Further information can be obtained from Invesco Perpetual as follows:

Free Investor Helpline: 0800 085 8677

Internet address: www.invescoperpetual.co.uk/investmenttrusts

The information provided in this statement should not be considered as a
financial promotion.

Interim management statements are expected to be published in January and July
each year.

Invesco Asset Management Limited

For and on behalf of the Board of

Perpetual Income and Growth Investment Trust plc

20 January 2012

Registered Office

30 Finsbury Square, London, EC2A 1AG

Telephone: 020 7065 4000

Facsimile: 020 7065 3166

Registered in England No 3156676

An Investment Company under Section 833

of the Companies Act 2006

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