Interim Management Statement
October 02 2009 - 11:54AM
UK Regulatory
TIDMCPE
RNS Number : 1871A
Charter European Trust plc
02 October 2009
Charter European Trust PLC
Interim Management Statement
For the quarter ended 31 August 2009
This interim management statement relates to the quarter from 1 June 2009 to 31
August 2009 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 2009
+--------------+--------------+---------+---------+---------+
| | % change |
+--------------+--------------------------------------------+
| |Year to date | 3m | 3yrs | 5yrs |
| | to 31 Aug | | | |
| | 2009 | | | |
+--------------+--------------+---------+---------+---------+
| Share price | 32.93 | 10.45 | 13.66 | 81.55 |
+--------------+--------------+---------+---------+---------+
| Net Asset | 31.47 | 9.50 | 15.03 | 74.99 |
| Value | | | | |
+--------------+--------------+---------+---------+---------+
| Benchmark* | 29.52 | 15.30 | 6.58 | 60.72 |
+--------------+--------------+---------+---------+---------+
Source: Datastream
Total return with net dividends reinvested and net of fees.
* FTSE World Europe (ex UK) Index (GBP) since 9th January 2007/FTSE World Europe
Index (GBP) until 8th January 2007
Portfolio
Top ten holdings at 31 August 2009 and percentage of total gross assets
+----------------------------+--------------+------------+
| | GBP | % |
+----------------------------+--------------+------------+
| BNP Paribas | 2,666,814 | 4.90 |
+----------------------------+--------------+------------+
| Zurich Financial Services | 2,656,259 | 4.88 |
+----------------------------+--------------+------------+
| Tandberg | 2,595,307 | 4.76 |
+----------------------------+--------------+------------+
| Unilever | 2,562,656 | 4.70 |
+----------------------------+--------------+------------+
| Société Générale | 2,559,201 | 4.70 |
+----------------------------+--------------+------------+
| Eutelsat Communications | 2,428,435 | 4.46 |
+----------------------------+--------------+------------+
| Sanofi-Aventis | 2,418,783 | 4.44 |
+----------------------------+--------------+------------+
| SES "A" Shares | 2,273,705 | 4.17 |
+----------------------------+--------------+------------+
| Nokia | 2,177,970 | 4.00 |
+----------------------------+--------------+------------+
| Veolia Environnement | 2,142,703 | 3.93 |
+----------------------------+--------------+------------+
Material events and transactions
During the period 220,500 ordinary shares were purchased into treasury.
The Board is pleased to announce the appointment of Collins Stewart as the
Company's new brokers.
Financial position at 31 August 2009 and at 1 October 2009
+----------------------+---+------------------+---+---------------+
| | | 31 August | | 1 October |
+----------------------+---+------------------+---+---------------+
| Total gross assets | | GBP54,472,868 | | GBP58,377,410 |
+----------------------+---+------------------+---+---------------+
| Net assets | | GBP53,956,579 | | GBP57,820,089 |
+----------------------+---+------------------+---+---------------+
| Share price | | 205.00p | | 218.00p |
+----------------------+---+------------------+---+---------------+
| Net asset value1 | | 227.11p | | 244.01p |
+----------------------+---+------------------+---+---------------+
| Net asset value2 | | 227.11p | | 244.01p |
+----------------------+---+------------------+---+---------------+
| Discount3 | | -9.7% | | -10.7% |
+----------------------+---+------------------+---+---------------+
| Gearing 4 | | -0.9% | | -1.1% |
+----------------------+---+------------------+---+---------------+
| Historic Dividend | | 2.0% | | 1.9% |
| Yield | | | | |
+----------------------+---+------------------+---+---------------+
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.chartereuropean.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 viawww.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
2 October 2009
This information is provided by RNS
The company news service from the London Stock Exchange
END
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