Witan Inv Tst PLC WTAN Interim Management Statement

  Witan Inv Tst PLC (WTAN) - Interim Management Statement

RNS Number : 7162Q
Witan Investment Trust PLC
09 November 2012




WITAN                  INVESTMENT                  TRUST                   PLC 
 Page  1 
of 4





9November 2012





  Second Interim Management Statement for the year beginning 1 January 2012





Objective

The objective of Witan Investment Trust plc is to be the preferred choice  for 
wealth creation, delivering long-term capital growth and a growing real income
to shareholders through investment in global equity markets.





Review of the second six month period, beginning 1 July 2012



Between 30 June 2012 and 30 September 2012 the net asset value per share total
return (calculated  by  including the  debt  at  fair value)  was  6.2%.  The 
Company's benchmark returned 4.5% over this three month period.



Between 30  June  2012 and  30  September 2012  the  Company bought  back  for 
cancellation a  total  of 470,500  of  its  ordinary shares.  The  number  of 
ordinary shares in  issue at  30 September  2012 was  190,418,500. The  share 
price  at  30  September  2012  was  487.10p,  giving  the  Company  a  market 
capitalisation of  £927.5  million. As  at  8  November 2012  the  number  of 
ordinary shares  in issue  was 190,399,500  and the  share price  was  485.4p, 
giving the Company a current market capitalisation of £924.2 million.



On 14 September  2012, the Company  paid an interim  dividend of 6.00p  (2011: 
5.45p) per ordinary share, in respect of the year ending 31 December 2012.



There are no other material events or transactions to report.





Company Information

Epic Code: WTAN

Sector: Global Growth

Launch date: 1909

Financial year end: 31 December

Next dividend payment (ordinary shares): April 2013

















                                                                   Page 2 of 4





Company Statistics as at 30 September 2012

Gross Total Assets: £1,185million*

Net asset value per ordinary share: 541.42p*

Share price: 487.10p*

Discount: 10.0%*

Gearing: 8%*

Dividend yield: 2.46%*

Total Expense Ratio (TER) for 2011: 0.87% (excluding performance fees: 0.71%)*



Geographic Breakdown as at 30 September 2012*

UK 44.8%

North America 18.2%

Europe 15.0%

Far East  11.3%

Japan 2.9%

Other 4.6%

Cash  3.2%



Sector Allocation as at 30 September 2012*

Financials 22.3%

Consumer Services  14.0%

Industrials  12.8%

Consumer Goods 11.0%

Technology 8.2%

Oil & Gas  8.0%

Health Care  7.2%

Basic Materials 4.2%

Other  5.1%

Open Ended Funds 4.9%

Equity Index Futures -0.9%

Cash/Bonds 3.2%



Ten Largest Holdings as at 30 September 2012*

(on a look through basis across managers, excluding collective funds)

3i Group
3.0%

Electra Private Equity 2.6%

Diageo
2.0%

BP
1.7%

Pearson
1.6%

Unilever
1.6%

Vodafone
1.5%

Princess Private Equity 1.3%

Reed    Elsevier 
1.2%

Schroders
1.2%



*Source: BNP Paribas Securities Services

                                                                   Page 3 of 4



Manager Breakdown and percentages of portfolio under management





Manager                    Mandate                  31/12/11 30/06/12 30/09/12
                                                           %        %        %
Artemis                    UK                            8.2      8.3      8.6
Lindsell Train             UK                           10.8     11.8     11.8
NewSmith Asset Management  UK                            9.7      9.3      9.2
Henderson Global Investors UK Smaller Cos                2.2      2.0      2.0
Southeastern         Asset Global                       11.7      9.1      9.0
Management
MFS International          Global                        8.1      8.5      8.5
Thomas White International Global                        8.8      8.9      8.8
Veritas                    Global                       11.3     12.6     12.5
Marathon                   Pan-Europe                    8.9      7.6      7.8
Comgest                    Pacific ex Japan              6.5      6.7      6.8
Trilogy                    Emerging Markets              4.0      4.3      4.4
Witan Executive team       Directly-held                 9.8     10.9     10.6
                           investments





Investment Performance^(1)



Performance over          3 months 6 months 1 year 3 years 5 years 10 years


Share Price (Total Return)     8.4%     0.6%   18.6%    25.6%   14.9%   142.6%
Net  Asset  Value   (Total     6.2%    -0.7%   18.1%    21.9%   14.7%   133.5%
Return) ^(2)
Benchmark (Total Return)       4.5%     0.6%   15.9%    20.9%   11.1%   131.0%

^

^(1) Source: FE Analytics  & DataStream - percentage  growth to 30  September 
2012.

^(2) The Net Asset Value figures value  debt at fair value except for the  10 
year figures where debt is valued at par value.

^



Since 01.10.2007 the benchmark has been a composite of four indices: 40%  FTSE 
All-Share, 20% each in FTSE All-World North America, FTSE All-World Europe (ex
UK) Index and FTSE All-World Asia Pacific Index. From 01.09.2004 to 30.09.2007
the benchmark consisted  of 50%  FTSE All-Share, 50%  FTSE World  (ex UK)  and 
prior to  this  60% FTSE  All-Share,  40% FTSE  World  (ex UK).  Source:  FTSE 
International Limited  ("FTSE"). FTSE  is a  trade mark  of the  London  Stock 
Exchange Group  companies  and  is  used  by  FTSE  under  license.  For  more 
information go to http://www.witan.com/legal-information





                                      

                                     ENDS

                                                                             

                                                                             

                                                                             

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For further information please contact:



Andrew Bell, Chief Executive Officer

Witan Investment Trust plc

Tel: 020 7227 9770

Andrew.bell@witan.co.uk



James   Frost,   Marketing   Director   Jain 
Castiau, Director

Witan Investment Trust plc Cauldron
Consulting

Tel: 020  7227 9770  Tel: 
020 3718 7236/07909 963 969

James.frost@witan.co.uk
Jain.castiau@cauldron-consulting.com



Neither the contents of the Company's website nor the contents of any  website 
accessible from hyperlinks on the Company's website (or any other website)  is 
incorporated into, or forms part of, this announcement.



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

END


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