Interim Management Statement
April 16 2009 - 11:17AM
UK Regulatory
TIDMIVPH
Invesco Perpetual Select Trust plc
Hedge Fund Share Portfolio
(`the portfolio')
Interim Management Statement
for the Three Months Ended 28 February 2009
Material Events
General Meeting
A General Meeting was held on 8 April 2009 at which a special resolution was
passed to renew the Directors' authority to purchase shares of the Company in
the market for cancellation or for holding in Treasury within the parameters
specified.
Performance - Total Return
3 Months 1 Year Since Inception
(26 November 2006)
Share Price -8.0% -31.5% -5.0%
Net Asset Value -1.1% -22.6% -0.8%
Merrill Lynch 3 month LIBOR 1.1% 6.0% 13.9%
Source: Fundamental Data and Merrill Lynch
Share Price and Discount
As at For the Three Months Ended
28 Feb 2009 28 Feb 2009
High Low Average
Share price (pence) 95.5 104.3 95.5 97.7
Discount -3.2%
Source: Fundamental Data
Assets and Gearing
28 Feb 2009 30 Nov 2008 Change
Total Gross Assets (GBPm) 19.5 19.8 -1.5%
of which Cash (GBPm) - -
Borrowings (GBPm) 0.8 0.2
Cum Income Net Asset Value (pence) 98.7 100.3 -1.6%
Actual Gearing 104 100
`Actual Gearing' reflects loans drawn down. A figure of 100 means that the
Portfolio has no gearing.
Breakdown of Portfolio by Strategy
% of Portfolio % of Portfolio
at 30 Nov 2008
Equity Hedged High Volatility 25.3 12.5
Macro 17.3 15.2
Specialist Credit 12.5 15.9
Equity Hedged Low Volatility 10.7 16.6
Event Driven 10.6 12.2
Multiple Strategy 7.2 5.3
Short Bias 6.3 7.1
Equity Long Bias 5.8 12.4
Volatility Trading 4.3 2.8
Changes to Share Capital for the three months ended 28 February 2009:
Hedge Fund Shares of 1p each
Issued Treasury
As at 30 Nov 2008 19,578,708 554,000
Hedge shares bought back (618,000) 618,000
Hedge shares issued 0 0
Treasury shares cancelled 0 0
As at 28 Feb 2009 18,960,708 1,172,000
Changes to Share Capital since 28 February 2009:
Hedge Fund Shares of 1p each
Issued Treasury
As at 28 February 2009 18,960,708 1,172,000
Hedge shares bought back (183,000) 183,000
Hedge shares issued 0 0
Treasury shares cancelled 0 0
As at 15 April 2009 18,777,708 1,355,000
Price and Performance
The Company's Hedge Fund Shares are listed on the London Stock Exchange and the
price is published in the Financial Times under `Investment Companies' and in
the Daily Telegraph under `Investment Trusts'.
The Portfolio's net asset value is calculated on a daily basis and can be
viewed on the London Stock Exchange website at www.londonstockexchange.com.
Further information can be obtained from Invesco Perpetual as follows:
Free Investor Helpline: 0800 085 8677
Internet address: www.invescoperpetual.co.uk/investmenttrusts
The information provided in this statement should not be considered as a
financial promotion.
In future, interim management statements are expected to be published in
September and March each year.
For and on behalf of
Invesco Asset Management Limited
- Company Secretary
16 April 2009
Registered Office
30 Finsbury Square, London, EC2A 1AG
Telephone: 020 7065 4000
Facsimile: 020 7065 3166
Registered in England No 5916642
An Investment Company under Section 266
of the Companies Act 1985
END
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