Athelney Trust PLC Net Asset Value(s) (3487L)
September 05 2019 - 5:04AM
UK Regulatory
TIDMATY
RNS Number : 3487L
Athelney Trust PLC
05 September 2019
Athelney Trust PLC
Legal Entity Identifier:
213800ON67TJC7F4DL05
The unaudited net asset value of Athelney Trust was 229p at 31
August 2019.
Fund Manager's comment for August 2019
In the current highly volatile investment climate investors once
again turned to the glitter of gold rather than the lure of crypto
currencies, with gold reaching a six year high of $1,540 an ounce
and bitcoin declining to $10,000 as nervous investors looked for a
safe haven. Gold is up by 6% over the last month and 30% in the
last year as the US/China trade dispute, lower growth prospects for
world trade and concerns on the state of the US economy with the US
Federal Reserve considering a further cut to interest rates.
The International Monetary Fund (IMF) has lowered its growth
forecasts for the global economy for both this year and next year
as a result of trade and technology tensions. Global growth is
forecast at 3.2 percent in 2019, picking up to 3.5 percent in 2020
(0.1 percentage point lower than in the earlier April projections
for both years).
The major world markets as represented by the MSCI World Index
and the S&P 500 were under pressure in August with the indices
declining by 2.2% and 1.8% respectively. Performance in the UK
market was overshadowed by politics with the FTSE 100 Index
declining by 5.0% while the Small Cap Index declined by only 3.2%.
The Fledgling Index was not as badly affected, declining by 2.9%
while the AIM All Share Index was the worst performing index,
declining by 6.2% during the month. Our portfolio declined by 2.9%
during the month which, after allowing for expenses resulted in a
3.1% decline in the NAV.
The positioning of the portfolio has to a large extent been
completed with a few, smaller names to be sold as we able to find
buyers for these illiquid stocks. Our position in Greene King,
Menzies (John), Latham (James) and Heath Samuel were sold while we
added Smart Metering Services and Boohoo to the portfolio.
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.
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 over AU$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.com.au
-- Barrack St Investments (ASX code: BST)
AUD23m www.barrackst.com
-- Global Masters Fund Limited (ASX code: GFL)
AUD26m www.globalmastersfund.com.au
-- Athelney Trust plc (LSE code: ATY)
GBP5m www.athelneytrust.co.uk
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 one 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NAVGCGDCSGGBGCU
(END) Dow Jones Newswires
September 05, 2019 05:04 ET (09:04 GMT)
Athelney (LSE:ATY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Athelney (LSE:ATY)
Historical Stock Chart
From Jul 2023 to Jul 2024