FWP Finsbury Wwide.

 
TIDMFWP 
 
FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC 
 
    Interim Management Statement - 3 months to 31 December 2009 (unaudited) 
 
Finsbury Worldwide Pharmaceutical Trust PLC invests worldwide in pharmaceutical 
, biotechnology and related companies in the healthcare sector with the 
objective of achieving a high level of capital growth. 
 
During the 3 month period ending 31 December 2009 the Company's undiluted net 
asset value per share rose by 2.7% and the share price by 4.0%, compared to a 
rise of 4.7% in the Company's benchmark, the DataStream World Pharmaceutical 
and Biotechnology Index measured in sterling terms on a total return basis. 
This performance was achieved against a background of a depreciating US$ 
against sterling. The exchange rate at 30 September 2009 was 1.5994 compared to 
1.6149 at 31 December 2009, a movement of 1%. 
 
During the three-month period a total of 2,836,033 shares were repurchased to 
be held in treasury. Since the period end, to 15 February 2010, a further 
818,311 shares have been bought back for treasury. The shares repurchased 
during the period and up to 15 February 2010 were done so at a cost of GBP21.6m 
(including expenses). 
 
In the period from 31 December 2009 to 15 February 2010, the Company's diluted 
net asset value per share and the share price both rose by 5.2% and 1.9% 
respectively compared to a rise of 1.8% in the Company's benchmark, all 
measured on a total return basis. 
 
The Company allotted 9,730,960 new subscription shares on 4 September 2009; 
such subscription shares having quarterly subscription dates. On the first two 
subscription dates, being 31 October 2009 and 1 February 2010, a total of 
738,653 subscription shares were converted into ordinary shares raising GBP4.5m. 
 
The Company will be renewing its share buy-back authority at a General Meeting 
to be held on 2 March 2010. 
 
Trust Characteristics 
 
                           31 December 2009          30 September 2009 
 
Number of holdings         48                        49 
 
Net assets (GBPm)            297.9                     308.0 
 
Net yield                  0.8%                      0.8% 
 
Gearing (AIC basis)        111                       105 
 
Share price (p)            616.00                    592.50 
 
NAV (p) -undiluted         660.00                    642.72 
 
NAV (p) diluted: sub       651.87                    637.87 
shares 
 
NAV (p) - fully diluted    649.01                    636.42 
for 
 
sub shares and treasury 
shares 
 
(Discount)/premium         (6.7%)                    (7.8%) 
(undiluted) 
 
(Discount/premium(diluted  (5.5%)                    (7.1%) 
- sub shares) 
 
(Discount/premium (fully   (5.1%)                    (6.9%) 
diluted) 
 
Subscription share price   56.50                     62.25 
(p) 
 
Source: Frostrow Capital LLP 
 
10 Largest Investments 
 
Name                                 % of                       % of 
 
                                   portfolio                 portfolio 
 
                              at 31 December 2009       at 30 September 2009 
 
Roche                                 7.9                       7.5 
 
Johnson & Johnson                     7.5                       7.1 
 
Novartis                              7.4                       6.8 
 
Amgen                                 4.3                       3.1 
 
Bristol-Myers Squibb                  3.8                       3.4 
 
Dendreon                              3.4                       2.0 
 
Sinopharm                             3.0                       1.4 
 
Shire                                 3.0                       2.7 
 
Genzyme                               2.8                       3.3 
 
Teva Pharmaceutical                   2.7                       2.5 
 
                                     45.8                       39.8 
 
Source: Frostrow Capital LLP 
 
Sector Analysis 
 
                                     % of                       % of 
 
                                   portfolio                 portfolio 
 
                              at 31 December 2009       at 30 September 2009 
 
Large capitalisation                 59.5                       65.5 
 
Small capitalisation                 40.5                       34.5 
 
Total                                100.0                     100.0 
 
Source: Frostrow Capital LLP 
 
Geographical Analysis 
 
                                     % of                       % of 
 
                                  portfolio                  portfolio 
 
                             at 31 December 2009        at 30 September 2009 
 
North America                        65.7                       65.2 
 
Europe                               22.8                       22.9 
 
Israel                               2.7                        2.5 
 
Far East                             8.8                        9.4 
 
Total                               100.0                      100.0 
 
Source: Frostrow Capital LLP 
 
Total Return Performance 
 
                3 Months        1 Year          3 Years         5 Years 
 
Share price     +4.0%           +11.1%          +29.7%          +41.7% 
 
NAV Fully       +2.0%           +6.8%           +29.9%          +45.0% 
diluted 
 
Benchmark*      +4.7%           +4.2%           +24.1%          +50.7% 
 
Source: NAV (total return; fully diluted) and Share Price (total return) 
Morningstar. Benchmark - Thomson Financial Ltd. 
 
* Benchmark - Datastream World Pharmaceutical and Biotechnology Index measured 
in sterling terms on a total return basis. 
 
Past performance is not a guide to future performance. 
 
This Interim Management Statement has been prepared solely to provide 
information to meet the requirements of the UK Listing Authority's Disclosure 
and Transparency Rules. 
 
This Interim Management Statement is available on the Company's website 
www.finsburywp.com. 
 
The Company's net asset value per share is announced daily and is available, 
together with the share price, on the TrustNet website at www.trustnet.com 
 
SEDOL Codes: 
 
Shares - 0338530 
 
Subscription Shares - B3VMCB0 
 
ISIN - 
 
Shares - GB0003385308 
 
Subscription Shares - GB00B3VMCB07 
 
For further information contact: Mark Pope on 0203 008 4913 
 
Frostrow Capital LLP 
 
Company Secretary 
 
17 February 2010 
 
 
 
END 
 

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