Athelney Trust PLC Net Asset Value(s) (8771X)
May 02 2019 - 3:34AM
UK Regulatory
TIDMATY
RNS Number : 8771X
Athelney Trust PLC
02 May 2019
Athelney Trust PLC
Legal Entity Identifier:
213800ON67TJC7F4DL05
The unaudited net asset value of Athelney Trust was 236.2p at 30
April 2019.
Fund Manager's comment for April 2019
Global markets continued their strong start to the year with
most regions up during April. U.S. equities continued to perform
well with the S&P 500 Index advancing by 3.9% as the Fed kept
rates on hold during the first quarter and indicated that there
would probably be no further rate increases for the remainder of
the year. Europe on the other hand released a series of
disappointing eurozone metrics, signalling a lacklustre start to
the second quarter. Consumer confidence continued to drift lower,
and Germany's closely watched LFO business climate indicator fell
for the seventh time in the past eight months. In China, the
government's wide range of stimulus measures seemed to be bearing
fruit, evidenced by better-than-anticipated first-quarter GDP
growth (+6.4%), retail sales (+8.7%) and industrial production
(+8.5%).
Following the April 10 agreement between the European Union and
the U.K. the fear of government dysfunction around the world abated
with the delay of Brexit until Halloween. The portfolio performed
well during the month, given the continued political uncertainty,
with the NAV increasing by 5.2% as compared to the FTSE Index which
increased by 1.9%. The Small Cap Index was up by 3.8%, the AIM All
Share Index by 6.1% and the Fledging Index by 1.7%.
During the month we consolidated our exposure in the Property
sector into fourteen companies with a further three to be removed
once they have gone ex-dividend. Dividends received in the month
continue to be as expected and, in some cases, better than
expected. We will now turn our attention to the other sectors where
our focus will be to retain and consolidate our holdings into those
quality companies in the portfolio which are unlikely to be
disintermediated by technological change and able to maintain or
increase their dividend. To this end we will continue to sell our
holdings in companies where there has been a change to the industry
structure, the business model, the senior management team or the
product/service offering, as well as adding companies which have an
acceptable level of predictable growth in the business's
medium-term economic performance.
Our position in Air Partner was lightened while McColls Retail,
Wynnstay Group, TP ICAP, Capital & Regional, Schroder European
Trust, Palace Capital and Park Group were sold. We added to our
positions in AEW, Lok'n Store, Tritax Big Box, Londonmetric and
Regional Reit. No new names were added.
Fact Sheet
An accompanying fact sheet which includes the information above
as well as wider details on the portfolio can be found on the
Fund's website www.athelneytrust.co.uk under "Portfolio
Details".
Background Information
Dr. Emmanuel (Manny) Pohl
Manny is Chairman and Chief Investment Officer of E C Pohl &
Co ("ECP"), an investment management company and has been a major
shareholder in Athelney trust for many years.
E C Pohl & co is licensed by the Australian Financial
services (licence no.421704).
www.ecpohl.com
www.ecpam.com
Manny Pohl and the ECP group has over AU$1000m under its
management including four listed investment companies, three listed
in Australia and one in the UK:
-- Flagship Investments (ASX code:FSI)
AUD50m https://flagshipinvestments.com.au
-- Barrack St Investments (ASX code: BST)
AUD23m www.barrackst.com
-- Global Masters Fund Limited (ASX code: GFL)
AUD26m www.globalmastersfund.com.au
-- Athelney Trust plc (LSE code: ATY)
GBP5m www.athelneytrust.co.uk
Athelney Trust plc Investment Policy
The investment objective of the Trust is to provide shareholders
with prospects of long-term capital growth with the risks inherent
in small cap investment minimised through a spread of holdings in
quality small cap companies that operate in various industries and
sectors. The Fund Manager also considers that it is important to
maintain a progressive dividend record.
The assets of the Trust are allocated predominantly to companies
with either a full listing on the London Stock Exchange or a
trading facility on AIM or ISDX. The assets of the Trust have been
allocated in two main ways: first, to the shares of those companies
which have grown steadily over the years in terms of profits and
dividends but, despite this progress, the market rating is
favourable when compared to future earnings and dividends; second,
to those companies whose shares are standing at a favourable level
compared with the value of land, buildings or cash in the balance
sheet.
Athelney Trust was founded in 1994. In 1996 it was one of the
ten pioneer members of the Alternative Investment Market ("AIM").
In 2008 the shares became fully listed on the main market of the
London Stock Exchange. Athelney Trust has a successful progressive
dividend growth record and the dividend has grown every year since
2004. According to the Association of Investment Companies (AIC)
Athelney Trust is one of only "22 investment companies that have
increased their dividend every year between 10 and 20 years - the
next generation of dividend heroes" (as at 20/03/2018). See
link
www.theaic.co.uk/aic/news/press-releases/next-generation-of-dividend-heroes
Website
www.athelneytrust.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NAVGIGDUSXGBGCD
(END) Dow Jones Newswires
May 02, 2019 04:34 ET (08:34 GMT)
Athelney (LSE:ATY)
Historical Stock Chart
From Apr 2024 to May 2024
Athelney (LSE:ATY)
Historical Stock Chart
From May 2023 to May 2024