ABNY Albany It

    RNS Number : 9773J
  Albany Investment Trust PLC
  12 December 2008
   
    Albany Investment Trust Plc
    Interim Management Statement as at 28th November 08

    Investment Objective:

    To invest in a wide variety of quality stocks both in the UK and abroad, seeking consistent growth in capital and income.

    Material Changes:

    In light of the current climate the board perceived, after discussions with Rathbone Investment Management, that there may be a need for
greater flexibility and active management of the portfolio. To this end, the management fee structure has been altered such that commission
is no longer charged on transactions and the annual management fee is payable as follows:

    First �33,000,000    0.7% (of which �25,000 is in respect of the administration fee)
    Thereafter        0.5%


    Net Asset Value:

                    FT ALL SHARE                        ALBANY INVESTMENT TRUST
                 Index    %                  NAV    %               Price    %       Discount
 31/07/2008    2749.21          100.00    323.08          100.00      258               20.14
 31/08/2008    2868.69    4.35  104.35    337.02    4.31  104.31    273.5    6.01       18.85
 30/09/2008    2483.67  -13.42   90.34    296.91  -11.90   91.90    256.5   -6.22       13.61
 31/10/2008    2183.69  -12.08   79.43    264.77  -10.82   81.95    213.5  -16.76       19.36
 28/11/2008    2133.99   -2.28   77.62    257.04   -2.92   79.56    209.5   -1.87       18.50


Top Ten Holdings:
 
Rank               Investment                 % of Portfolio Previous rank
 
1                      Royal Dutch Shell                     4.97%                          (3)
2                      BAT                                         4.93%                          (4)
3                      Dechra Pharma                         4.48%                          (~)
4                      BP                                            4.37%                          (10)
5                      Northumbrian Water                 4.34%                          (2)
6                      3i Infrastructure                         4.25%                          (~)
7                      National Grid                            4.21%                          (7)
8                      Chemring                                  3.60%                          (6)
9                      Glaxosmithkline                         3.58%                          (~)
10                    Smiths Group                            3.46%                          (~)



    Top Ten Concentration: 42.19%    

            
    By order of the board.

    For further information

    Rathbone Bros & Co                                   0151 236 6666
    Tom Evans
    Roy Morris


    Shore Capital & Corporate Limited              0207 408 4090

    Dru Danford

This information is provided by RNS
The company news service from the London Stock Exchange
 
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