Net Asset Value(s)
February 18 2003 - 6:55AM
UK Regulatory
RNS Number:6365H
BarclaysGlbl Inv Endowment Fd II Ld
18 February 2003
Barclays Global Investors Endowment Fund II Limited
Net Asset Value
The net asset value at 31.01.03 was 112.80p per share.
Prospective return per annum after all Company expenses
The prospective annual rate of return to an investor holding shares to
redemption, based on the main assumptions listed below, would be:
a) To an initial shareholder who bought shares at 100p 5.9%
b) To an investor buying shares on 31.01.03 at 80.5p 19.1%
Main assumptions
* No brokerage is charged on share purchases
* All policies are held until maturity
* Unchanged bonus rates until maturity
* Base rates continue at 3.75% until maturity
* Administrative costs increase at 2.5% per annum until maturity
* No benefits arise from early deaths or other windfall gains
* The Company is exempt from tax on its gains throughout its life
* One fifth of the Company's shares will be redeemed in each of the years
2005 to 2009
The TEP market's valuation of policies implies an average policy growth rate of
8.9% per annum. However, since bonus rates will change over the life of the
Company, alternative policy growth rates to maturity of 4% and 8% per annum are
shown below in order to indicate a possible range of returns to investors after
Company expenses. The same assumptions are used as those above, except those
relating to bonus rates.
Prospective return per annum after all Company expenses
At alternative policy growth rates of: 4% 8%
a) To an initial shareholder who bought shares at 100p 2.9% 5.4%
b) To an investor buying shares on 31.01.03 at 80.5p 12.8% 19.0%
These figures are for illustrative purposes and are not guaranteed. They serve
only to demonstrate the impact of changing policy growth rates on an investment.
17 February 2003
This information is provided by RNS
The company news service from the London Stock Exchange
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