Interim Management Statement
May 12 2009 - 4:53AM
UK Regulatory
TIDMPRF
RNS Number : 0892S
Premier Renewable Energy Fund Ltd
12 May 2009
Premier Renewable Energy Fund Limited ("the Company")
Interim Management Statement for the period from 1 December 2008 to 30 April
2009.
Investment Objective
The Company aims to provide shareholders with an attractive overall return to be
achieved primarily through long-term growth. The Company invests principally in
companies that generate power from wind, hydro, landfill gas, biomass, solar
energy, marine currents, nuclear, energy crops, energy suppliers and companies
that are commercialising other renewable technologies. Up to 15% of the gross
assets may be invested in unquoted securities.
Financial Highlights
+----------------------------------+--------------+------------+------------+
| | 30 Nov 2008 | 30 | % change |
| | | Apr 2009 | |
+----------------------------------+--------------+------------+------------+
| Zero Coupon Preference share NAV | 338.62p | 348.71p | +2.98% |
+----------------------------------+--------------+------------+------------+
| Mid price | 339.00p | 365.00p | +7.67% |
+----------------------------------+--------------+------------+------------+
| | | | |
+----------------------------------+--------------+------------+------------+
| Ordinary Income share NAV | 67.55p | 71.75p | +6.22% |
+----------------------------------+--------------+------------+------------+
| Mid price | 48.50p | 44.00p | -9.28% |
+----------------------------------+--------------+------------+------------+
Material Events and Transactions
During the period, which saw deepening concerns over global recession, we
continued to maintain a defensive stance with a high weighting in large
profitable and well financed companies and utilities with predictable cash
flows. There were no material events or transactions to report.
Issued Share Capital of the Company as at 30 April 2009:
Ordinary Shares 13,115,952
ZCP Shares 1,222,833
Buy-back of Shares
The Company made no share buybacks during the period.
Holdings (% of Fund) as at 30 April 2009
+--------------------------------------+----------+
| IBERDROLA SA | 8.23% |
+--------------------------------------+----------+
| FPL GROUP | 7.97% |
+--------------------------------------+----------+
| ENERGIAS DE PORTUGAL | 7.23% |
+--------------------------------------+----------+
| SCOTTISH & SOUTHERN ENERGY | 6.89% |
+--------------------------------------+----------+
| EDP RENOVAVEIS | 5.86% |
+--------------------------------------+----------+
| IBERDROLA RENOVABLES | 5.74% |
+--------------------------------------+----------+
| GAMESA CORP TECNOLOGICA | 5.64% |
+--------------------------------------+----------+
| EXELON CORP | 5.02% |
+--------------------------------------+----------+
| ELECTRICITE DE FRANCE | 4.43% |
+--------------------------------------+----------+
| EDF ENERGIES NOUVELLES | 4.41% |
+--------------------------------------+----------+
| ITC HOLDINGS CORP | 3.43% |
+--------------------------------------+----------+
| NOVERA ENERGY | 3.08% |
+--------------------------------------+----------+
| CHINA POWER NEW ENERGY DEVELOPMENT | 2.61% |
+--------------------------------------+----------+
| CANADIAN HYDRO DEVELOPERS | 2.34% |
+--------------------------------------+----------+
| VESTAS WIND SYSTEMS | 2.28% |
+--------------------------------------+----------+
| RENEWABLE ENERGY GENERATION | 2.17% |
+--------------------------------------+----------+
| TRADING EMISSIONS | 2.03% |
+--------------------------------------+----------+
| A-POWER ENERGY GENERATION | 2.03% |
+--------------------------------------+----------+
| HYDRODEC 8% Unsecured Conv Loan | 1.44% |
| Notes | |
+--------------------------------------+----------+
| HANSEN TRANSMISSIONS | 1.28% |
+--------------------------------------+----------+
| GREENKO GROUP | 1.16% |
+--------------------------------------+----------+
| AVEVA GROUP | 1.12% |
+--------------------------------------+----------+
| ORMAT TECHNOLOGIES | 1.04% |
+--------------------------------------+----------+
| HARBIN POWER EQUIPMENT | 0.99% |
+--------------------------------------+----------+
| KSK EMERGING INDIA ENERGY FUND | 0.86% |
+--------------------------------------+----------+
| | 89.28% |
+--------------------------------------+----------+
| CASH | 10.72% |
+--------------------------------------+----------+
| | 100.00% |
+--------------------------------------+----------+
Save for the volatility of the stock markets, which may have had an adverse
effect on the Company's assets and NAV per share, the Board is not aware of any
significant events or transactions which have occurred since 30 April 2009 which
would have a material impact on the financial position of the Company.
Further Information
Daily prices, Company announcements, Prospectus and monthly fact sheets are
available via www.premierassetmanagement.co.uk.
For further information contact:
Anson Fund Managers Limited
Secretary
Tel: 01481 722260
12 May 2009
E&OE - in transmission
This information is provided by RNS
The company news service from the London Stock Exchange
END
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