Athelney Trust PLC Net Asset Value(s) (5292J)
December 05 2018 - 5:43AM
UK Regulatory
TIDMATY
RNS Number : 5292J
Athelney Trust PLC
05 December 2018
Athelney Trust PLC
Legal Entity Identifier:
213800ON67TJC7F4DL05
The unaudited net asset value of Athelney Trust was 238.5p at 30
November 2018.
Fund Manager's comment for November 2018
The Athelney Trust unaudited NAV continued to decline during
November, the sixth month in a row, to 238.5p, a decline of 1.45%
which compared favourably to a 2.09% decline in the FTSE Index, a
5.05% decline in the AIM All Share index and a 0.43% decline in the
Small Cap Index. This is in contrast to most other major stock
markets which showed some improvement during the month. The Dow
Jones Index increased in US$ by 1.68% and there was a 0.96%
increase in the MSCI World Index in November.
The portfolio continues to be affected by UK macro factors
rather than specific business-related matters and this trend is
expected to continue for the foreseeable future. The Brexit
compromise deal which is currently on the table has clearly
affected investor confidence in the equity markets while the pound
has changed little during the month when compared to a basket of
currencies. UK equities were also negatively impacted by a further
loss of earnings momentum and growing concerns around the outlook
for the UK consumer as confirmed in the latest consumer confidence
index, which decreased by three points to -13 in November 2018, is
the lowest reading since December last year.
I have been careful to not make too many changes to the
portfolio, to ensure that for now we reap the dividends that were
expected and are imminent. To this end we added to our positions in
Jarvis Securities, Marston's and XP Power. None were sold.
Fact Sheet
An accompanying fact sheet which includes the information above
as well as wider details on the portfolio can be found on the
Fund's website www.athelneytrust.co.uk under "Portfolio
Details".
Background Information
Dr. Emmanuel (Manny) Pohl
Manny is Chairman and Chief Investment Officer of E C Pohl &
Co ("ECP"), an investment management company and has been a major
shareholder in Athelney trust for many years.
About the management group
E C Pohl & co is licensed by the Australian Financial
services (licence no.421704).
www.ecpohl.com
www.ecpam.com
Manny Pohl and the ECP group has a$1000m under its management
including four listed investment companies, three listed in
Australia and one in the UK:
-- Flagship Investments (ASX code:FSI)
AUD50m https://flagshipinvestments.co.au
-- Barrack St Investments (ASX code: BST)
AUD23m www.barrackst.com
-- Global Masters Fund Limited (ASX code: GFL)
AUD26m www.globalmastersfund.co.au
-- Athelney Trust plc (LSE code: ATY)
GBP5m www.athelneytrust.co.uk
Athelney Trust plc Investment Objective
The investment objective of the Trust is to provide shareholders
with prospects of long-term capital growth with the risks inherent
in small cap investment minimised through a spread of holdings in
quality small cap companies that operate in various industries and
sectors. The Fund Manager also considers that it is important to
maintain a progressive dividend record.
Athelney Trust plc Investment Policy
The investment objective of the Trust is to provide shareholders
with prospects of long-term capital growth with the risks inherent
in small cap investment minimised through a spread of holdings in
quality small cap companies that operate in various industries and
sectors. The Fund Manager also considers that it is important to
maintain a progressive dividend record.
The assets of the Trust are allocated predominantly to companies
with either a full listing on the London Stock Exchange or a
trading facility on AIM or ISDX. The assets of the Trust have been
allocated in two main ways: first, to the shares of those companies
which have grown steadily over the years in terms of profits and
dividends but, despite this progress, the market rating is
favourable when compared to future earnings and dividends; second,
to those companies whose shares are standing at a favourable level
compared with the value of land, buildings or cash in the balance
sheet.
Athelney Trust was founded in 1994. In 1996 it was on of the ten
pioneer members of the Alternative Investment Market ("AIM"). In
2008 the shares became fully listed on the main market of the
London Stock Exchange. Athelney Trust has a successful progressive
dividend growth record and the dividend has grown every year since
2004. According to the Association of Investment Companies (AIC)
Athelney Trust is one of only "22 investment companies that have
increased their dividend every year between 10 and 20 years - the
next generation of dividend heroes" (as at 20/03/2018). See
link
www.theaic.co.uk/aic/news/press-releases/next-generation-of-dividend-heroes
Website
www.athelneytrust.co.uk
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contact rns@lseg.com or visit www.rns.com.
END
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