North Atl.smlr Regulatory News (NAS)

20 Dec 2007 10:51

North Atlantic Smlr Co Inv Tst PLC20 December 2007 NORTH ATLANTIC SMALLER COMPANIES INVESTMENT TRUST PLC INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 OCTOBER 2007 Investment Objective The objective of North Atlantic Smaller Companies Investment Trust PLC ("theCompany") is to provide capital appreciation through investment in a portfolioof smaller companies principally based in countries bordering the North AtlanticOcean. Financial Highlights Cumulative performance As at 3 months 6 months 1 year 3 years 5 years 31October % % % % % 2007 NAV * Basic 1,753p (0.2) (1.0) 1.1 40.6 65.1 Diluted 1,312p (0.2) 7.0 10.3 63.0 103.1 Mid-market price 1,196.0p 2.2 4.9 6.5 60.5 165.8 Discount to diluted NAV * 8.8% Standard & Poor's 500 745.8 4.1 0.6 3.2 20.9 31.7Composite Index **Russell 2000 ** 398.6 4.4 (2.1) (0.9) 25.1 67.0FTSE All-Share Index 3,454.1 5.0 2.9 10.0 50.3 78.2US Dollar/Sterling exchange 2.0774 (2.2) (3.9) (8.9) (13.4) (32.8)rate * Excluding retained revenue for the period. ** Sterling adjusted. Material Events There were no material events to report during the period under review. Material Transactions There were no material transactions during the quarter ended 31October 2007. TWENTY LARGEST INVESTMENTS AT 31 OCTOBER 2007 % Castle Support Services PLC UK Quoted on AIM 9.5Oryx International Growth Fund Limited * UK Listed 8.6Nationwide Accident Repair Services PLC UK Quoted on AIM 5.5Inspired Gaming Group PLC UK Quoted on AIM 5.3Gleeson (MJ) Group PLC UK Listed 4.6BBA Aviation Group PLC UK Listed 4.5Hampton Trust Group UK Unquoted 4.1Motherwell Bridge Limited UK Unquoted 3.8W-H Energy Services Inc. USA Listed 3.2Georgica PLC UK Quoted on AIM 3.0Ashtead Group PLC UK Listed 2.9Trident Private Equity II LP Cayman Islands Unquoted 2.5Worldport Communications Inc. USA Unquoted 2.5Sterling Construction Inc. USA Listed 2.2Cardpoint PLC** UK Quoted on AIM 2.1Communisis PLC UK Listed 2.1RPC Group PLC UK Listed 2.1Martley France Unquoted 2.1Whatman PLC UK Listed 2.0Rileys Press UK Unquoted 1.6 % of total portfolio 74.2 * Incorporated in Guernsey **Now known as Payzone PLC following merger SECTOR ANALYSIS OF INVESTMENTS AT FAIR VALUE AS AT 31 OCTOBER 2007 United United States Kingdom Europe Total % % % %Support Services 0.8 12.7 - 13.4Investment Companies 0.2 12.0 - 12.2General Industrials - 11.6 - 11.6Real Estate - 6.6 2.1 8.7Travel & Leisure - 8.3 - 8.3Construction & Materials 2.2 4.6 - 6.9Industrial Engineering 0.5 6.0 - 6.5Healthcare, Equipment & Services 0.4 4.4 - 4.8Industrial Transportation - 4.5 - 4.5General Financial 4.2 - - 4.2Oil & Gas 3.2 0.7 - 3.9Consumer Cyclical - 1.6 - 1.6Media - 1.3 - 1.3Communications - 1.2 - 1.2Technology Hardware & Equipment 0.8 - - 0.8Food Producers - 0.5 - 0.5Manufacturing 0.1 0.1 - 0.2 12.4 76.1 2.1 90.6Treasury Bills 9.4 9.4 21.8 76.1 2.1 100.0Total at 30 April 2007 36.4 63.3 0.3 The financial information for the quarter ended 31 October 2007 contained withinthis Interim Management Statement has not been audited. By order of the Board Jenny Hogg for and on behalf of J O Hambro Capital Management Limited as Company Secretary 20 December 2007 This information is provided by RNS The company news service from the London Stock Exchange