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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aber.GD.C&I | LSE:AFHI | London | Ordinary Share | GB0031100034 | INC SHS 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 100.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAFHI ABERFORTH GEARED CAPITAL & INCOME TRUST plc Interim Management Statement for the three months to 30 September 2010 Investment Objective =------------------- The investment objective of Aberforth Geared Capital & Income Trust plc (AGCiT) is to provide Income Shareholders with a high level of income payable half yearly with the potential for income growth and to provide Capital Shareholders with geared capital growth. Aberforth Partners LLP are contracted as the Investment Managers and Secretaries to the Company. Features =------- Over the 3 month period to 30 September 2010, the Company's total asset value increased by 12.9%. By comparison the RBS Hoare Govett Smaller Companies Index (Excluding Investment Companies) (RBS HGSC (XIC)), which is representative of AGCiT's investment opportunity base, increased by 14.1%. All figures are total returns. As at 30 September 2010 the Capital share price was 335.5p, representing a discount of 21.1% to the Capital Share net asset value (assuming 100p per Income Share). A first interim dividend in respect of the year to 31 December 2010 of 6.5p was paid to Income Shareholders on 20 August 2010. Performance - Total Returns =-------------------------- Periods to 30 September 2010 3 Months 6 Months 1 Year 3 Years Total Assets +12.9% +10.5% +18.6% -5.8% Capital Share NAV +32.5% +19.6% +35.6% -38.6% RBS HGSC (XIC) +14.1% +6.5% +16.0% +3.3% Capital Share Price +22.7% +22.9% +24.3% -42.4% Income Share Price +5.5% +5.5% +14.7% +36.4% Note: Past performance is not a guide to future performance Top 10 Holdings =-------------- As at 30 September 2010 % of Investment Portfolio Spirax-Sarco Engineering 4.7 RPC Group 3.7 JD Sports Fashion 3.6 Spectris 3.2 e2v technologies 3.1 Beazley 2.8 Bodycote 2.5 Dialight 2.5 Domino Printing Sciences 2.4 UMECO 2.2 ---- 30.7 ---- Size Distribution across FTSE Indices =------------------------------------ As at 30 September 2010 RBS HGSC (XIC) AGCiT % Total %Total FTSE 100 0.0 0.0 FTSE 250 75.3 45.9 FTSE SmallCap 18.8 44.8 FTSE Fledgling 1.7 4.7 Other 4.2 4.6 ----- ----- 100.0 100.0 ----- ----- Current Financial Position As at As at =------------------------- 30 September 2010 30 June 2010 Fixed Assets: Investments GBP 103.2m GBP 92.7m Net Current Assets GBP 0.9m GBP 0.3m -------- ------- Total Assets less Current Assets GBP 104.1m GBP 93.0m Creditors (amounts falling due after more GBP (57.2m) GBP(56.2m) than one year) -------- ------- Equity Shareholders' Funds GBP 46.9m GBP 36.8m -------- ------- Income Share NAV 106.37p 108.44p Capital Share NAV (assuming Income Shares 425.46p 321.21p at 100p) Income Share Price 110.75p 111.00p Capital Share Price 335.50p 273.50p Market Capitalisation (Income and Capital GBP 62.4m GBP 55.9m Shares) Current Gearing 220% 252% Hurdle Rates =----------- Required capital growth p.a. on portfolio -26.5% -16.5% to return 100p to Capital Shareholders Required capital growth p.a. on portfolio -6.4% -2.7% to return Capital Share price General Information =------------------ Total Expense Ratio (p.a.) - 2009 1.8% Second Interim Dividend for y/e 31/12/09 (paid 6.7p February 2010) First Interim Dividend for y/e 31/12/10 (paid 6.5p August 2010) Dividend Yield 11.9% Launch Date 18 December 2001 Planned Winding Up Date 31 December 2011 Further Information =------------------ Further information regarding the Company, including more recently published net asset values, can be found on the following website: www.aberforth.co.uk Contact Gary Tait (Tel: 0131 220 0733) Aberforth Partners LLP, Secretaries, 5 October 2010 ANNOUNCEMENT END END
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