Interim Management Statement
April 15 2010 - 7:05AM
UK Regulatory
TIDMIVPH
Invesco Perpetual Select Trust plc
Hedge Fund Share Portfolio
(`the Portfolio')
Interim Management Statement
for the Three Months Ended 28 February 2010
Material Events
General Meeting were held on 22 December 2009 and 15 April 2010 at which
special resolutions were 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.
Dividends
No dividends were declared in the period.
Performance - Total Return
3 Months 1 Year 3 Year
Share Price 0.5% 11.8% 7.3%
Net Asset Value 0.3% 16.4% 8.1%
Merrill Lynch 3 month LIBOR 0.1% 1.3% 15.4%
Source: Morningstar and Merrill Lynch
Share Price and Discount
As at For the Three Months Ended
28 February 28 February 2010
2010
High Low Average
Mid-market price (pence) 106.8 106.8 105.3 106.2
Discount 6.9%
Source: Morningstar
Assets and Gearing
28 February 2010 30 November Change
2009
Total Gross Assets (GBPm) 17.3 17.8 -2.8%
of which Cash (GBPm) - -
Borrowings (GBPm) 0.8 1.2
Cum Income Net Asset Value (pence) 114.7 114.5 0.2%
Actual Gearing 104.5 107.0
`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
28 February 2010 at 30 November 2009
Equity Hedged High Volatility 26.2 12.5
Macro 17.3 15.2
Event Driven 12.9 12.2
Equity Long Bias 7.8 12.4
Multiple Strategy 7.5 5.3
Equity Hedged Low Volatility 6.6 16.6
Specialist Credit 6.1 15.9
Short Bias 5.0 7.1
Fixed Income 4.8 0.0
Volatility Trading 4.5 2.8
Other 1.3
Changes to Share Capital for the three months ended 28 February2010:
Hedge Fund Shares of 1p each
Issued Treasury
As at 30 November 2009 14,494,574 1,260,368
Hedge shares bought back (91,242) 91,242
and held in treasury
Hedge shares issued 0 0
Treasury shares cancelled 0 0
As at 28 February 2010 14,403,332 1,351,610
Changes to Share Capital since 28 February 2010:
Hedge Fund Shares of 1p each
Issued Treasury
As at 28 February 2010 14,403,332 1,351,610
Hedge shares bought back 0 0
and held in treasury
Hedge shares issued 0 0
Treasury shares cancelled 0 0
As at 15 April 2010 14,403,332 1,351,610
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
October and April each year.
For and on behalf of
Invesco Asset Management Limited
- Company Secretary
15 April 2010
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 833
of the Companies Act 2006
END
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