Interim Management Statement
April 20 2011 - 12:18PM
UK Regulatory
TIDMUSPI
GLOBAL SPECIAL OPPORTUNITIES TRUST PLC
Interim Management Statement for the period ended 31 March 2011
Investment Objective
The investment objective is for the portfolio to be managed to provide the
Shareholders with capital growth, for the Income Shareholders to be repaid
their final adjusted capital entitlement on 31 May 2011 of 120.82p per Income
Share and for the portfolio to be managed so as to provide the Capital
Shareholders with a cash return on or shortly after 31 May 2011. The Directors
will seek to distribute substantially all of the net revenue to Income
Shareholders by way of dividend, although this is not expected to be a material
amount.
Financial Highlights
31 March 30 November % change
2011 2010
Income share NAV 37.66p 39.62p (4.95)
Mid price 37.75p 32.25p 17.05
Capital share NAV 0.00p 0.00p n/a
Mid price 0.51p 0.26p 96.15
Unit (1 Cap and 1 Inc share) NAV 37.66p 39.62p (4.95)
Mid price 38.25p 32.00p 19.53
Russell 2000 Index total return ($) 3,778.03 3,242.66 16.51
Russell 2000 Index total return (GBP) 2,356.92 2,082.17 13.20
US Dollar/Sterling exchange rate 1.60295 1.55735 2.93
Material Events and Transactions
Portfolio management
In accordance with the Company's articles of association the Board will
convene a general meeting on 31 May 2011 to propose a resolution that the
Company be wound up. It has been the Company's strategy over the last year to
dispose of its illiquid holdings in unlisted companies and to focus on liquid
stocks that can be more easily realised in preparation for liquidation. Over
the period under review this process has continued ahead of the planned winding
up date.
Banking arrangements
The Company may use gearing and the Directors reserve the right to borrow up to
a maximum of 25% of the gross assets (at the time of drawdown). As at 31 March
2011 there were no borrowings.
Top TenHoldings
Company Sector % of net assets
iShares TR Index Russell Financial services 17.94
2000
Vanguard Small Cap ETF Financial services 17.59
Powershares QQQ Trust Financial services 15.72
iShares S&P 500 Financial Services 8.73
ETFS Fund Company Russell Financial Services 4.86
2000
Skystar Bio-Pharmaceutical Pharmaceuticals & Biotechnology 3.79
Wonder Auto Technologies Financial services 3.45
SinoHub Electronics 3.36
Bio-star Pharmaceuticals Pharmaceuticals & Biotechnology 3.28
Points International Internet Software 2.59
Further Information
Daily prices, company announcements, Reports and Accounts and monthly fact
sheets are available at www.premierassetmanagement.co.uk.
20 April 2011
END
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