CPE Charter Euro.

    RNS Number : 3558E
  Charter European Trust plc
  25 September 2008
   

    Charter European Trust PLC

    Interim Management Statement

    For the quarter ended 31 August 2008

    This interim management statement relates to the quarter from 1 June 2008 to 31 August 2008 and contains information for that period
unless otherwise stated. This statement is produced to provide information in accordance with the UK Listing Authority's Disclosure and
Transparency Rules. 


    Investment objective

    The objective of Charter European Trust plc is to provide growth in capital and income through investment in a focused portfolio of
European equities.

    Financial Performance to 31 August 2008

                                    % change
                        3m     6m        1yr       3yrs      5yrs
     Share price       -2.5    3.3       6.9       47.8     125.3
 Net Asset Value       -2.3    4.8       6.5       47.1     107.6
 Composite Benchmark*  -8.6     -1.5       -3.4       34.2    85.2

    Source: Datastream
    Total return with net dividends reinvested and net of fees.
    * FTSE World Europe (ex UK) Index (�) since 9th January 2007/FTSE World Europe Index (�) until 8th January 2007


    Portfolio

    Top ten holdings at 31 August 2008 and percentage of total gross assets
                                      �
                                               %
            Novartis             4,196,835  6.60
              E.On               3,544,991  5.57
            Syngenta             3,102,803  4.88
 International Personal Finance  2,994,930  4.71
        Dassault Systes          2,554,935  4.02
          Swatch Group           2,543,739  4.00
             Total               2,536,194  3.99
              ABB                2,473,738  3.89
      Veolia Environnement       2,337,033  3.67
              SAP                2,318,746  3.64



    Material events and transactions

    During the period 432,000 ordinary shares were purchased for cancellation. 

    An interim dividend for the year ended 30 November 2008 of 1.40p per share was paid on 26 August 2008 to shareholders on the register on
25 July 2008.

    In view of the recent turmoil in global equity markets in the last three weeks share prices have fallen, which has impacted the
Company's financial position. In view of this, updated financial information as at 22 September 2008 is disclosed below.




    Financial position at 31 August 2008 and 22 September 2008
    

    
                                      31 August       22 September
 Total gross assets                 �63,632,160        �57,103,469
 Net assets                         �63,120,745        �56,610,001
 Share price                             232.5p             211.0p
 Net asset value1,2                     258.15p            231.52p
 Discount3                                -9.9%              -8.9%
 Gearing 4                                   0%                 0%
 Historic Dividend Yield                  1.38%              1.52%

    1 Debt at book value
    2Debt at market value
     Net asset values are calculated and announced daily.
    3 The discount is the difference between the share price and the NAV (debt at book value) per share expressed as a percentage of the NAV
per share.
    4 Actual gearing - net of cash.


    Company Information

     Launch date                                 2002
        EPIC                                     CPE
      Year end                               30 November
 Report and Accounts     Final posted late February, half-yearly posted July
         AGM                                    March
      Dividends                            August and April
  Price Information             Financial Times, The Daily Telegraph,
                                         www.allianzgi.co.uk


    Investor information

    Further up to date information, including Net Asset Values and share prices, and the latest available factsheets and portfolio
information, is provided on the Manager's website, which can be accessed via  www.chartereuropean.co.uk .  Investor Services can be
contacted on 020 7065 1407 and information can also be obtained from the Manager's helpline on 0800 317 573.



    By order of the Board.
    Charter European Trust PLC

    155 Bishopsgate
    London EC2M 3AD

    25 September  2008

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