Interim Management Statement (3440E)
29 Maggio 2012 - 4:06PM
UK Regulatory
TIDMEUS
RNS Number : 3440E
Edinburgh US Tracker Trust plc
29 May 2012
Edinburgh US Tracker Trust plc - Interim management
statement
To the members of Edinburgh US Tracker Trust plc
This interim management statement has been produced solely to
provide additional information to shareholders as a body to meet
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
February 2012 to 30 April 2012, and contains information that
covers this period, up to the date of publication of this interim
management statement, unless otherwise specified.
Investment objective
To invest in a portfolio designed to track closely the S&P
500 Index, both in terms of capital and income.
Benchmark
S&P 500 Index
Material events and their impact on the Trust
At the Company's AGM on 29 May 2012, all resolutions, including
the annual continuation vote, were passed. The resolution on
continuation was passed by 99.9% of votes cast.
The Company will pay a final dividend of 5.20p per share to
shareholders on 1 June 2012. The ex-dividend date was 1 May 2012
and the register date was 4 May 2012.
At the Company's General Meeting on 29 May 2012, the resolution
to change the Company's investment policy, as set out in the
circular to shareholders dated 27 April 2012 (the "Circular"), was
approved by shareholders. The new investment policy comes into
effect following the conclusion of the General Meeting. The
resolution to amend the Articles, including the change from an
annual to three yearly continuation vote, was also approved. The
resolution to extend the allotment authorities was also approved.
The resolution relating to the disapplication of pre-emption rights
equal to 40% of the Company's issued share capital was withdrawn as
there was insufficient proxy voting support to carry this special
resolution, requiring 75% approval.
Following approval for the change to its investment policy, the
Company has also changed its name to The North American Income
Trust plc and, with effect from 30 May 2012, the Company's 'ticker'
reference will change from EUS to NAIT.
Material transactions and their impact on the Trust's financial
position
Over the three month period to 30 April 2012 the Company's net
asset value fell 2.4% on a total return basis compared to a fall of
2.2% in the S&P 500 Index.
For latest NAV and share price information, please refer to the
Trust's website, www.edinburghustracker.co.uk.
Cumulative performance (%)
As at 3 months 1 year 3 years 5 years
30/04/12
---------------- ---------- --------- ------- -------- --------
Capital return
Share price 689.5 -0.4 4.4 13.3 7.1
NAV 718.9 -2.4 3.4 10.9 5.7
S&P 500 Index -2.3 3.5 10.9 5.3
---------------- ---------- --------- ------- -------- --------
Total return
Share price 689.5 -0.4 4.4 13.3 7.8
NAV 718.9 -2.4 3.4 10.9 6.4
S&P 500 Index -2.2 4.1 12.1 7.6
---------------- ---------- --------- ------- -------- --------
Discrete performance (%)
Year ending 30 April 30 April 30 April 30 April 30 April
2012 2011 2010 2009 2008
---------------- --------- --------- --------- --------- ---------
Capital return
Share price 7.1 3.7 30.5 -15.8 -6.1
NAV 5.7 5.6 31.4 -15.4 -6.0
S&P 500 Index 5.3 5.4 31.6 -15.8 -5.6
---------------- --------- --------- --------- --------- ---------
Total return
Share price 7.8 5.3 32.9 -14.4 -4.2
NAV 6.4 7.1 33.7 -14.0 -4.2
S&P 500 Index 7.6 7.6 34.4 -13.5 -3.7
---------------- --------- --------- --------- --------- ---------
Capital Return; NAV to NAV, Net Income Reinvested, GBP
Source: Aberdeen Asset Managers Limited and Morningstar
NAV returns based on NAVs excluding income and with debt valued
at par
Total Return; NAV to NAV, Net Income Reinvested, GBP
Source: Aberdeen Asset Managers Limited, Factset and
Morningstar
NAV returns based on NAVs excluding income and with debt valued
at par
Ten largest equity holdings
as at 30 April 2012
Apple 4.3
ExxonMobil 3.2
IBM 1.9
Microsoft 1.8
Chevron 1.6
General Electric 1.6
AT&T 1.5
Johnson & Johnson 1.4
Wells Fargo 1.4
Coca-Cola 1.4
Total 20.1
Sector allocation
as at 30 April 2012
%
Information Technology 20.3
Financials 14.5
Health Care 11.4
Consumer Discretionary 11.3
Energy 11.2
Consumer Staples 10.9
Industrials 10.6
Utilities 3.5
Materials 3.4
Telecommunication
Services 2.9
Total 100.0
Assets at 30 April 2012
Investments GBP225.8m
Cash GBP0.5m
Total assets(1) GBP226.3m
No of shares in
issue 31478582
Net asset value 718.9p
Discount 4.1%
((1) Excluding current year revenue)
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 and may be affected by exchange rate
movements. Investors may not get back the amount they originally
invested.
29 May 2012
For Edinburgh US Tracker Trust plc
Aberdeen Asset Management PLC, Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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