* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download WITAN INVESTMENT TRUST
Private equity in the 2000s wikipedia , lookup
Corporate venture capital wikipedia , lookup
Private equity wikipedia , lookup
Investor-state dispute settlement wikipedia , lookup
Private equity in the 1980s wikipedia , lookup
Special-purpose acquisition company wikipedia , lookup
Private equity secondary market wikipedia , lookup
Internal rate of return wikipedia , lookup
Capital gains tax in Australia wikipedia , lookup
Stock trader wikipedia , lookup
Mutual fund wikipedia , lookup
Mark-to-market accounting wikipedia , lookup
Short (finance) wikipedia , lookup
Hedge (finance) wikipedia , lookup
International investment agreement wikipedia , lookup
Rate of return wikipedia , lookup
Investment banking wikipedia , lookup
Early history of private equity wikipedia , lookup
History of investment banking in the United States wikipedia , lookup
Private money investing wikipedia , lookup
Socially responsible investing wikipedia , lookup
Environmental, social and corporate governance wikipedia , lookup
WITAN INVESTMENT TRUST MONTHLY FACTSHEET JUNE 2017 Investment objective Trust statistics Long-term growth in income and capital through active investment in global equities, using a multi-manager approach. Gross assets Share price Monthly commentary £2.0bn 1001.00p 1029.02p (2.7%) 1.90% Stock market performance was a little more muted than in recent months, with global equities registering small declines in June. European equities were weak in sterling terms (-2.5%) but remain firmly ahead of most other regions over the course of 2017. The UK market (-2.5%) suffered from a further bout of political uncertainty, as the reality of a hung parliament sank in, while Asia (+1.0%) and Emerging Markets (+0.5%) continued to perform well. European market weakness was most notable in the final days of the month as various central bankers (whether coincidentally or in cooperation) indicated a willingness to adopt a less accommodative policy, causing bond yields to rise from exceptionally low levels. This change of heart followed a more hawkish tone adopted by the Federal Reserve in the middle of June. Nevertheless, central bankers continue to have the freedom to operate cautiously, as economic forecasts, including inflation, remain Over the first half of at subdued levels. Meanwhile, there the year to end June has been a notable narrowing of the NAV total return the gap between US economic was 10.8% and the growth and that of Europe and Asia. This convergence is due largely to share price total improving prospects in the latter, return was 12.2%, both rather than any notable weakness materially ahead of in the former. Corporate earnings the Benchmark’s 7.4% growth, the essential ingredient return. for continued equity market gains, remains resilient. The Company’s NAV total return of -0.1% in June represents an outperformance of the -0.7% achieved by the Benchmark. The share price total return was -1.0% as the discount widened slightly during June, although it remains below the level at the end of 2016. Over the first half of the year to the end of June the NAV total return was 10.8% and the share price total return was 12.2%, both materially outperforming the total return achieved by the Benchmark which was 7.4%. Premium (Discount) Yield Source: BNP Paribas as at 30.06.17. † NAV is cum income with debt at fair value. Trust information Epic Code WTAN Sector Global Growth Trust Type Conventional Launch Date 1909 Financial Year End 31 December Dividend Frequency Quarterly Last Ex Dividend Date 18 May 2017 AGM April Shares in Issue (excluding treasury) 178,872,058 Gearing 11% Ongoing Charges ‡ 0.75% 0.65% Excluding performance fee Including performance fee Source: BNP Paribas as at 30.06.17. ‡Ongoing charges as at 31.12.16. 42 years of consecutive dividend growth Dividend history (pence per share) 20 n n n n 16 12 4th Interim 3rd Interim 2nd Interim 1st Interim 8 4 Further information about the Company is available on Witan’s website, www.witan.com. 30 June 2017 NAV per ordinary Share† 0 2002 2004 2006 2008 2010 2012 2014 2016 ^Changed to quarterly dividend payments in 2013. Dividend schedule# Ex-div date Pay date Type 02.03.2017 31.03.2017 4th Interim 2016 Amount per share 6.25p 18.05.2017 16.06.2017 1st Interim 2017 4.75p 24.08.2017 18.09.2017 2nd Interim 2017 4.75p 16.11.2017 18.12.2017 3rd Interim 2017 4.75p Please note that the dates and amounts for dividends not yet paid could be subject to change. # *Please remember, past performance is not a guide to future performance, and the value of shares and the income from them can rise and fall, so investors may not get back the amount originally invested. Net Asset Value (“NAV”) performance is not the same as share price performance and investors may not realise returns the same as NAV performance. © Morningstar. All rights reserved. Morningstar is not responsible for any trading decisions, damages or other losses related to the information or its use. For more information go to www.witan.com/legal-information. Page 1 of 4 MONTHLY FACTSHEET JUNE 2017 PORTFOLIO OVERVIEW | | | 23% 18% 38% North America 5% | Europe UK Japan | 14% Far East 2% | Other Regional breakdown (%) Top 20 holdings (%) Princess Private Equity 1.9 Comcast1.8 JP Morgan 1.7 Apax Global Alpha 1.6 London Stock Exchange 1.6 38 North America 23 Europe 18 Far East 14 Japan 5 Other 2 *Includes funds listed in the UK but invested internationally. Regional breakdown excluding cash, rebased to 100. Syncona1.5 BlackRock World Mining Trust UK* Source: BNP Paribas as at 30.06.17. 1.5 Vonovia1.4 Taiwan Semiconductor 1.3 Bank of America 1.3 Alphabet 1.2 Unilever 1.2 Lloyds Banking 1.1 Delta Air Lines 1.1 Diageo 1.1 Amazon 1.0 Relx 1.0 Charter Communications 1.0 Oracle 0.9 BT 0.9 Top 10 Holdings 15.6 Top 20 Holdings 26.1 On a look through basis across managers, excluding open-ended funds. Sector breakdown (%) Financials 30.1 Consumer Services 17.0 Industrials 13.7 Consumer Goods 10.5 Technology 10.3 Health Care 7.0 Other 8.7 Open Ended Funds 0.0 Equity Index Futures Cash / Bonds 1.6 1.1 Financials includes Investment Companies. Source: BNP Paribas as at 30.06.17. Source: BNP Paribas as at 30.06.17. Page 2 of 4 MONTHLY FACTSHEET JUNE 2017 INVESTMENT PERFORMANCE * Relative performance (total return) † 16 260 Percentage Growth (%) Percentage Growth (%) Absolute performance (total return) † 240 220 200 180 160 140 120 100 80 12 10 8 6 4 2 0 Jun 2013 nnnnnnnnnn 14 Jun 2014 NAV nnnnnnnnnn Jun 2015 Jun 2016 Share Price nnnnnnnnnn Jun 2017 Jun 2013 Benchmark nnnnnnnnnn Jun 2014 Jun 2015 Jun 2016 Jun 2017 NAV / Benchmark Relative Total performance (% growth to 30.06.2017) over † 3 m 6 m 1 yr 3 yrs 5 yrs 10 yrs Share Price (Total Return) 5.3 12.2 36.2 51.3 147.5 159.5 Net Asset Value (Total Return) 3.6 10.8 28.0 52.8 119.7 138.7 Benchmark# (Total Return) 1.4 7.4 22.7 41.0 89.2 101.5 Relative NAV Performance 2.2 3.4 5.3 11.8 30.5 37.2 ‡ Discrete performance (%) † Q2 2012 Q2 2013 Q2 2013 Q2 2014 Share Price (Total Return) 33.4 22.6 Net Asset Value (Total Return) 28.2 Benchmark# (Total Return) 21.0 Relative NAV Performance 7.2 1.2 ‡ Q2 2014 Q2 2015 Q2 2015 Q2 2016 Q2 2016 Q2 2017 13.9‑2.5 36.2 12.1 11.2 7.3 28.0 10.9 6.8 7.6 22.7 4.4‑0.3 5.3 Relative numbers may not add up due to rounding † Source: Morningstar / Witan, total return includes the notional reinvestment of dividends. Annualised figures updated each calendar quarter. ‡ The Net Asset Value figures value debt at fair value and include the notional reinvestment of dividends. # Since 01.01.2017, Witan’s benchmark is a composite of 30% FTSE All-Share, 25% FTSE All-World North America, 20% FTSE All-World Asia Pacific, 20% FTSE All-World Europe (ex UK), 5% FTSE All-World Emerging Markets. From 01.10.2007 to 31.12.2016 the benchmark was 40% FTSE All-World, 20% FTSE All-World North America, 20% FTSE All-World Europe (ex UK) and 20% FTSE All-World Asia Pacific. From 01.09.2004 to 30.09.2007 the benchmark comprised of 50% FTSE All-Share and 50% 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 www.witan.com/legal-information. *Please remember, past performance is not a guide to future performance, and the value of shares and the income from them can rise and fall, so investors may not get back the amount originally invested. INVESTMENT MANAGERS Emerging Global Global 8% UK Asia 12% 3% 14% 6% UK PanEuropean 8% 14% 15% Global investment services 9% UK Direct Holdings 10% Source: Witan, data as at 30.06.2017. Total may not sum to 100% due to rounding. Page 3 of 4 MONTHLY FACTSHEET JUNE 2017 HOW TO INVEST Advisers Naturally, Witan’s shares can be traded through any UK stockbroker but there is a variety of other ways to invest in Witan Investment Trust plc. Savings schemes Witan is available for investment through two savings schemes managed by Witan Investment Services Limited. See below for a summary of each of the savings schemes. Advisers who wish to purchase Witan shares for their clients can do so via a stockbroker, Witan Savings Schemes or via a growing number of dedicated platforms. These include Ascentric, Nucleus, Seven Investment Management and Transact. Online platforms A growing number of platforms offer investment trusts directly to investors including Alliance Trust Savings, Hargreaves Lansdown, Barclays Stockbrokers, Halifax Share Dealing Limited, Interactive Investors and AJ Bell. Witan Wisdom provides two different options to enable investors to access Witan shares. Jump offers savings schemes specifically designed for adults to save on behalf of a child, which invest into Witan Investment Trust. Witan Wisdom Share Plan Jump Savings Plan The Witan Wisdom Share Plan is our standard, low-cost savings scheme.* The Jump Savings Plan is a flexible savings scheme allowing you to invest as much as you wish and can be accessed at any time.* Witan Wisdom ISA Jump Junior ISA The Witan Wisdom ISA is a stocks and shares ISA that enables investors to buy Witan shares within a tax efficient wrapper.* The Jump Junior ISA enables adults to invest in Witan shares on behalf of a child within a tax efficient wrapper.* Savers can also transfer existing ISA’s to Witan Wisdom via the Witan Wisdom Transfer ISA.* Savers with an existing Child Trust Fund can transfer to Jump, including directly into a Jump Junior ISA.* *Terms and conditions apply. *Terms and conditions apply. To request brochures and applications for Witan Wisdom and Jump savings schemes, you may call 0800 082 8180 (Wisdom) and 0800 011 2015 (Jump) or online via www.witan.com. Please read the full Key Features and Terms & Conditions documents or speak to an adviser before making a decision to invest. BOARD OF DIRECTORS HARRY HENDERSON Chairman ANDREW BELL CEO ROBERT BOYLE Chairman of the Audit Committee CATHERINE CLAYDON Chairman of the Remuneration and Nomination Committee SUZY NEUBERT RICHARD OLDFIELD JACK PERRY BEN ROGOFF TONY WATSON Senior Independent Director IMPORTANT INFORMATION Please remember, past performance is not a guide to future performance and the value of shares and the income from them can rise and fall, so investors may not get back the amount originally invested. This marketing communication is provided for informational purposes only and should not be construed as constituting an offer or a solicitation to buy or sell interests or investments in Witan Investment Trust PLC. Investment trusts can borrow money to make additional investments on top of shareholders’ funds (gearing). If the value of these investments falls, gearing will magnify the negative impact on performance. If an investment trust incorporates a large amount of gearing the value of its shares may be subject to sudden and large falls in value and you could get back nothing at all. Emerging markets tend to be more volatile than more established stock markets and therefore your money is at greater risk. Other risk factors such as political and economic conditions should also be considered. Funds which specialise in investing in a particular region or market sector are more risky than those which hold a very broad spread of investments. Funds investing in overseas securities are exposed to and can hold currencies other than Sterling. As a result, exchange rate movements may cause the value of investments to decrease or increase. Some, or all, of the annual management fee may be charged to the capital of the Fund. Whilst this increases the yield, it will restrict the potential for capital growth. Net Asset Value (“NAV”) performance is not the same as share price performance and investors may not realise returns that equal NAV performance. Where a fund holds a limited number of investments and one or more of those investments declines or is otherwise adversely affected, it may have a more pronounced effect on the Fund’s value than if a larger number of investments were held. CONTACT DETAILS 0800 082 81 80 www.witan.com This marketing communication is issued and approved by Witan Investment Services Limited. Witan Investment Services Limited is registered in England no. 5272533 of 14 Queen Anne’s Gate, London, SW1H 9AA. Witan Investment Services Limited provides investment products and services and is authorised and regulated by the Financial Conduct Authority. Calls may be recorded for our mutual protection and to improve customer service. Page 4 of 4