ENG Elec.& Gen.It

TIDMENG

RNS Number : 2807F

Electric & General Inv Tst PLC

20 April 2011

 
 ELECTRIC & GENERAL INVESTMENT TRUST PLC (the "Company") 
 
 Interim Management Statement (Unaudited) 
 For the three months ended 31 March 2011 
 
 Introduction 
 The Company has prepared this Interim Management Statement ("IMS") 
  in accordance with the requirements of the UK Listing Authority's 
  Disclosure and Transparency Rules. The IMS covers the three month 
  period ended 31 March 2011, together with relevant information 
  up to the date of publication. 
 
 Investment Objective 
 The Company's objective is to maximise total return whilst pursuing 
  a progressive dividend policy, where achievable, within the over-riding 
  objective of capital growth. The Investment Manager seeks to 
  achieve the Company's investment objectives by investing principally 
  in a portfolio of quoted international equities. The portfolio 
  would normally consist of between 60 and 100 holdings, which 
  is relatively concentrated for a Global Fund. 
 
 Material Events 
 No material events took place in the period that would have had 
  any impact on the financial position of the Company. Prior to 
  the period end, the Company announced its results for the half 
  year ended 31 December 2010, which included the declaration of 
  an interim dividend of 2.10 pence per share for the year ending 
  30 June 2011, which was paid on 1 April 2011 to shareholders 
  on the Register of Members at the close of business on 11 March 
  2011. 
  There have not been any changes in the Company's share capital 
  in the period, which remains at 65,318,174 Ordinary shares in 
  issue. 
 
 Material Transactions 
 There have not been any material transactions during the period 
  under review and to the date of publication of this statement. 
 
 General Financial Information 
 
                                      At 31 March 2011     At 31 December 2010 
 Net assets (capital 
  only)(GBP)                               321,858,746             307,848,452 
 Net asset value ("NAV") per 
  share (capital only) (p)                      492.76                  471.31 
 NAV per share (cum income) 
  (p)                                           495.14                  473.98 
 Share price (p)                                465.25                  450.00 
 Discount of share price to 
  NAV (capital only) (%)                          5.58                    4.52 
 Market capitalisation (GBP)               303,892,805             293,931,783 
 
 Number of Ordinary shares 
  in issue                                  65,318,174              65,318,174 
 
 Top Ten Investments 
                                       % of net assets         % of net assets 
                                                    at                      at 
                                         31 March 2011        31 December 2010 
 Hutchison Whampoa                                2.88                    2.68 
 TAG Immobilien                                   2.29                    2.38 
 Nestle                                           2.22                    2.43 
 Newcrest Mining                                  2.22                    2.39 
 Royal Dutch Shell B                              2.17                    2.12 
 Vodafone Group                                   2.14                    2.11 
 News Corporation                                 1.97                    1.86 
 Fraport                                          1.94                    1.80 
 British Sky Broadcasting                         1.91                    1.79 
 Orkla                                            1.90                    1.48 
 
 Sector Analysis 
                                       % of net assets         % of net assets 
                                                    of                      of 
                                         31 March 2011        31 December 2010 
 Financials                                      23.81                   22.91 
 Consumer Discretionary                          13.77                   13.75 
 Industrial                                      13.62                   14.42 
 Energy                                           9.99                   10.55 
 Materials                                        9.02                    8.92 
 Health Care                                      8.23                    6.86 
 Telecommunications                               7.92                    7.75 
 Consumer Staples                                 6.67                    7.87 
 Cash                                             3.91                    2.06 
 Technology                                       3.39                    3.52 
 Utilities                                        1.84                    3.66 
 Debentures                                     (2.17)                  (2.27) 
                                              --------                -------- 
                                                100.00                  100.00 
 
 Performance for the period ended 31 March 2011 
 
                                    Three months ended          One year ended 
                                         31 March 2011        31 December 2010 
 NAV                                             4.57%                   8.48% 
 Share price                                     3.39%                  20.89% 
 MSCI World Index (Sterling 
  excluding income)                              1.86%                  13.00% 
 
 Source: Taube Hodson Stonex Partners LLP/Bloomberg/AIC 
 
 A copy of this IMS is available on the Company's website: 
 www.electricandgeneral.com. 
 
 For further information, please contact: 
 
 Rhona Gregg 
 BNP Paribas Secretarial Services Limited 
 Company Secretary 
 
 Tel: 0141 225 3009 
 
 20 April 2011 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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