Murray Intnl Trust (MYI) - Interim Management Statement RNS Number : 1450Q Murray International Trust PLC 01 November 2012 Murray International Trust PLC Interim Management Statement - 3 months to 30 September 2012 To the members of Murray International Trust PLC This interim management statement has been produced solely to provide additional information to shareholders as a body in accordance with 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 2012 to 30 September 2012, and contains information that covers this period, and up to the date of publication of this interim management statement, unless otherwise specified. Investment objective The primary aim of the Company is to achieve a total return greater than its benchmark by investing predominantly in equities worldwide. Within this objective, the manager will seek to increase the Company's revenues in order to maintain an above average dividend yield. Benchmark 40% FTSE World UK and 60% FTSE World ex UK. Material events On 28 June 2012 a total of 5,726 new Ordinary shares were issued following the conversion of 5,726 B Ordinary shares in the period to 23 June 2012. On 14 August 2012 the Company declared a second interim dividend of 9.0p per Ordinary share, payable on 15 November 2012 to Ordinary shareholders on the register at close of business on 12 October 2012. On 16 August 2012 the Company paid a first interim dividend of 9.0p to Ordinary shareholders and B Ordinary shareholders were issued by way of capitalisation issue with 0.96425 new B Ordinary shares for every 100 B Ordinary shares held on the record date of 13 July 2012. On 22 August 2012 the Company announced its half yearly results and the half yearly report was posted to shareholders on 11 September 2012. During the period under review a total of 2,266,500 new Ordinary shares were issued for cash at a premium to the prevailing net asset value. Subsequent to the period end a further 575,000 shares were issued for cash at a premium to the prevailing net asset value. Twenty largest equity holdings at 30 September 2012 Company % of NAV British American Tobacco * 5.2 Unilever Indonesia 4.8 Souza Cruz 4.2 ASUR 3.7 Taiwan Mobile 3.5 Philip Morris 3.4 Kimberly-Clark de Mexico 3.1 Taiwan Semiconductor 3.0 Telus 2.8 PetroChina 2.8 Standard Chartered 2.5 Tenaris 2.5 Singapore Telecommunications 2.4 Nordea 2.4 Femsa 2.4 Total 2.4 Daito Trust Construction 2.4 Petroleo Brasileiro 2.3 Roche 2.3 ENI 2.3 TOTAL 60.4 * consolidates UK and Malaysian holdings by same issuer Ten Largest Fixed Interest Holdings at 30 September 2012 Company % of NAV Portugal Telecom Int Fin 4.5% 16/06/25 1.0 Hypermarcas 6.5% 20/04/21 0.9 Vale Overseas Limited 6.875% 21/11/2036 0.9 Telefonica Emisiones 5.375% 02/02/2018 0.9 Banco Bradesco (Cayman) 5.9% 16/01/21 0.8 Venezuela (Rep of) 8.5% 08/10/2014 0.7 Indonesia (Rep of) 10% 15/02/28 0.6 Indonesia (Rep of) 9.5% 15/07/23 0.6 Brazil (Fed rep of) 11% 17/08/40 0.3 General Accident 7.875% 0.2 TOTAL 6.9 General description of Company's financial position and performance as at 30 September 2012 £m Gross Assets 1,278.7 Debt (163.5) Actual gearing 14.3% Gearing is expressed as a percentage of gross assets divided by net assets. Cumulative total return performance (%) 1 3 6 1 3 5 as at month months months year years years 30/09/2012 Share Price 1033.0p 3.3 6.0 6.3 27.6 55.0 84.7 NAV* 930.8p 0.9 2.6 2.7 22.6 44.2 62.5 Composite Benchmark 1.1 4.0 0.8 17.3 24.1 14.5 * Excluding current year revenue. Discrete total return performance (%) year to: 30/09/2012 30/09/2011 30/09/2010 30/09/2009 30/09/2008 Share Price 27.6 -0.7 22.4 23.8 -3.8 NAV* 22.6 -1.7 19.7 22.8 -8.2 Composite Benchmark 17.3 -4.1 10.4 11.4 -17.2 NAV total return is calculated on a NAV to NAV basis with net income reinvested on the ex dividend date. NAV returns are based on NAVs that exclude current period revenue and with debt valued at par. Share price total return is calculated on a mid-to-mid basis with net income reinvested on the ex dividend date. Source: Aberdeen Asset Managers Limited, Factset and Morningstar. * Excluding current year revenue. Past performance is not a guide to future results. Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 1 October 2012 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-intl.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 the Company's 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 International Trust PLC Aberdeen Asset Management PLC, Secretary 1 November 2012 This information is provided by RNS The company news service from the London Stock Exchange END IMSBUBDBCUGBGDB -0- Nov/01/2012 16:00 GMT
Murray Intnl Trust MYI Interim Management Statement
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