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To achieve an increase of the NAV per share in excess of the growth in the FTSE All-Share Index and dividend growth that exceeds UK inflation rate by investing primarily in UK securities.
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How Marks funds keep on chugging away especially when they are mainly low risk investments, He is doing such a good job of the Big money high income and Income funds as well, Some commentators have been saying those funds are too big to be able to get good returns, Well Mark keep proving them wrong what do they know, They obviously don't know you like we avid investers do.
In case anyone is interested Mark Barnett also runs the INCOME and GROWTH fund ticker PLI, I personally split money going in here with that fund just to be a bit different it is also worth over 800 million so very liquid,My main fund though has always been the Perpetual High Income Fund Which I have been in since 1988 so you can imagine what that has grown to, I have not put any moneY in the CF woodford fund as I am more than happy with Mark Barnett he is to me the new star on the block.
You are soooo right Gerry ! I think we have a new star manager ! Just wish my Cup and QPP shares would do the same as here! Haha lol and have a brilliant weekend!Atb
spotted, Woody might have been the star name but Mark Barnett looks like the next Woody and some would say might be better. He's a top quartile performer and is second in the group over the year which he been in charge.
I stayed and did not sell after Woodward left!
2nd in the group of 24 and up 15% over a year. Not a bad return and there have been some ups and downs but its nice to get that income every quarter.
out of here and the perpetual high income and income funds , bad move, Mark Barnett is a top top manager and his performance record so far since taking the funds over is just fantastic.
with mark Barnett at the helm this is really starting to perform again.
When St James place sells the unit trust version of this fund? I think it will be better in the long run , as sometimes these funds get too big to manage .i do hold the Guinness income fund which is smaller though both have given me similar income and results .I see Woodward is starting up his own fund soon, waiting for details to be sent to me later this month , might move my dosh from here and follow him , anyone else think the same?
Nice to see new lower charges. 0.55% flat fee and removal of the performance fee. This is one of the things I'm not very keen on as the market can rise overall, giving the manager a kick in fees without actually being anything special. When the market falls back, you don't get that extra fee back on their "poor" performance because "its the wider market" that has fallen. Additionally the £7.5M reduction in this years fee can only help further. Nice yield, reduced costs and trading at a slight discount whats not to like. I cant remember but wasn't this trading on a surplus more recently around +4% So fits a good buy and hold investment. It will be interesting to see how many other IT's revisit costs now RDR impact is on the way although the change in manager might also have been a driver. Invesco Perpetual may have been more open to a reduction in fees to prevent the money following Woodford out of the door. http://www.telegraph.co.uk/finance/personalfinance/investing/10394637/Invesco-Perpetuals-Mark-Barnett-How-Ill-run-Neil-Woodfords-funds.html
I agree with you, I am going to stay here ,in fact bought more a few days ago.I like the Jupiter European Opportunities fund, also like Raven Russia Preference shares .Brilliant seeing someone else on here!I I do wonder where he will go and what fund he wil set up, hope not another China fund like others have done in the past! Ends in tears-lke lots of my Aim shares hahahahahha ,GL
should of been JUPITER EUROPEAN OPPORTUNITIES jeo,
I thought about selling here when i heard the news ,but hey i am going to give the new manager a chance,and why not,Im sure he will do a good job,i have money in the higher income fund as well,so i will have too watch this space,thing is though there is a lot of choice out there and a lot of good ones,im currently looking at, FINSBURY GROWTH fgt, STANDARDLIFE UK SMALLER COMPANYS sls, JUPITER EUROPEAN OPPORTUNITYS,jeo,and ACORN INCOME aif
What more could anyone want,once I finish with Aim the rest is going in here and CTY and Raven Russia!GLA
The last time I wrote the FTSE 100 was standing @ 6876 and this fund was 5.99p a share, Now the FTSE is @ 6421 as I write this and the fund is 6.05p,that proves just how good this fund is and all done with mostly low risk uk shares with good yields, Fantastic Neil, with this performance I don't know why I bother with anything else really, tempted to just chuck everything in here, but I suppose you have to have a bit of interest in something else and a bit of diversification just to keep it interesting.
very special thanks to neil woodford from fundamental, this trusts performance over the past few years is going to make my retirement very comfortable indeed, i have only one share that is in your top 10, which is BT,and they have done me proud.
FTSE 250 Edinburgh Investment Trust, which invests primarily in UK securities, said net asset value (NAV) increased more than the FTSE All-Share Index. NAV with debt at market value rose by 3% on a total return basis compared with a 1.9% rise in the FTSE index. Chairman Jim Pettigrew commented: "The ongoing difficult macroeconomic environment continued to present challenges for financial markets during the period. There have been no changes to the company's investment approach and its portfolio has delivered investment out-performance against benchmark in the 6 month period to September 30th 2012." The interim dividend of 5p will be paid on November 30th 2012, unchanged from last year. Looking ahead Pettigrew added: "Economic growth in the western world remains anaemic at best. Furthermore, growth in China showed signs of further slowdown in quarter three. "Although there has been a recent rally in European Bond markets following the President of the European Central Bank Mario Draghi's pledge to 'do whatever it takes' to preserve the Euro, this in itself does not resolve the fundamental issues facing Europe." Pettigrew said the company's investment strategy remains the same and as already highlighted, the concentrated nature of the portfolio may from time to time give rise to material short-term under-performance against benchmark. However, the group believes its investment portfolio from a medium to longer term perspective, has been built with stocks which should be resilient in difficult times, whilst still providing potential upside in more positive market environments.
Outlook Economic growth in the western world remains anaemic at best. Furthermore, growth in China showed signs of further slowdown in quarter 3. Although there has been a recent rally in European Bond markets following the President of the European Central Bank Mario Draghi's pledge to `do whatever it takes' to preserve the Euro, this in itself does not resolve the fundamental issues facing Europe. Against this backdrop, the Company's investment strategy remains unaltered. As the Board has emphasised in the past, the concentrated nature of the portfolio may from time to time give rise to material short term under-performance against benchmark. However, from a medium to longer term perspective, the Company's investment portfolio has been constructed with stocks which should be resilient in difficult times, whilst still providing potential upside in more positive market environments.
Retail Distribution Review (`RDR') RDR comes into effect on 31 December 2012 and will have significant implications in respect of how financial advice is provided, retail fund platforms operate and financial products are distributed. Many commentators have suggested that the abolition of commission under RDR should result in more retail demand for investment trusts. The likely beneficiaries of this demand, should it materialise, would be the larger investment trusts, such as The Edinburgh Investment Trust plc, which have good levels of liquidity in their own shares and can demonstrate a strong investment track record, a clear investment strategy and a compelling brand. The Board continues to monitor developments on RDR closely as they evolve to ensure that the Company is positioned appropriately to benefit in the new environment of 2013 and thereafter.
Gearing The Company continues to have long-term debt amounting to £200 million. This is all deployed in the market for investment purposes. At the end of the period the net gearing level was 20.0% compared to 20.3% at 31st March 2012. Dividend Income from the portfolio for the 6 months to 30 September 2012 was £26.8m (2011: £26.0m), with a corresponding increase in return per share from 11p to 11.3p. The Board has declared an unchanged first interim dividend of 5.0 pence per share and this will be paid on 30 November 2012 to shareholders on the register on the 16 November 2012.
KeywordCompanyEPIC/TIDMSEDOL/ISINNews Price Announcements Fundamentals News Article RSS Edinburgh Inv. Trust (EDIN) Add to Alerts list Print Mail a friend Annual reports Wednesday 14 November, 2012 Edinburgh Inv. Trust Half-yearly Report The Edinburgh Investment Trust plc Half-Yearly Financial Report Six months to 30 September 2012 Financial Information and Performance Statistics The Edinburgh Investment Trust plc (the `Company') is a UK investment trust listed on the London Stock Exchange, which invests primarily in UK securities. Investment Objective of the Company The Company invests primarily in UK securities with the long term objective of achieving: 1. an increase of the Net Asset Value per share by more than the growth in the FTSE All-Share Index; and 2. growth in dividends per share by more than the rate of UK inflation. Performance Statistics At At 30 September 31 March % 2012 2012 Change Capital Return Net asset value (`NAV'):   - debt at par 506.36p 502.03p +0.9   - debt at market value 480.11p 478.30p +0.4 FTSE All-Share Index 2998.86 3002.78 -0.1 Share price 517.0p 497.6p +3.9 (Premium)/discount:   - debt at par (2.1)% 0.9%   - debt at market value (7.7)% (
THE REAL DIVIDEND HEROES In the UK Growth & Income sector a good performer is Edinburgh Investment Trust run by Neil Woodford, arguably the UK's best investment manager. He runs his funds in a cautious way and they tend not to be the top yielders in their sectors, but over time make strong returns. Edinburgh's dividend rises have beaten inflation in five out of the past 10 years and it currently yields a juicy 4.36 per cent. More importantly, in terms of share price performance it is among the top five trusts in its sector over one, three and five years, a record that recently helped it win the Best UK Equity Growth Fund awardat Investors Chronicle's fund awards. The downside to this trust is that it trades at a premium to NAV of more than 5 per cent. Read the article in full here: http://www.investorschronicle.co.uk/2012/05/10/funds-and-etfs/the-big-theme/the-real-dividend-heroes-gFxOV5lrQseIKCUBqZbWjI/article.html P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
http://www.investegate.co.uk/Article.aspx?id=20120125135539P3D03