Athelney Trust PLC Net Asset Value(s) (4445H)
August 03 2021 - 07:18AM
UK Regulatory
TIDMATY
RNS Number : 4445H
Athelney Trust PLC
03 August 2021
Athelney Trust PLC
Legal Entity Identifier:
213800ON67TJC7F4DL05
The unaudited net asset value of Athelney Trust was 292.8p at 31
July 2021.
Fund Manager's comment for July 2021
Financial markets have for the most part been positive as a
result of better public health outcomes following large scale
vaccinations of the population in developed economies. Despite some
economies not performing as expected, global economic data during
the month highlighted a theme of global demand continuing to
outstrip supply. In an interesting twist, Chinese technology stocks
declined sharply as Beijing launched a regulatory assault on
education businesses and companies that handle large amounts of
data, as well as an overhaul of how Chinese groups list on stock
markets outside their country.
In the United Kingdom, officials pressed ahead with fully
unwinding restrictions in spite of an increase in case counts and
scrapped quarantine for fully vaccinated EU and US visitors. The
latest Red Flag Alert research for Q2 2021 recorded 650,000
businesses in 'significant financial distress(1) ' which represents
a decline of 10% from the highest recorded number of significantly
distressed businesses in Q1 2021 (723,000).
Dividend income from our investments continues to improve and
YTD is well ahead of last year's receipts, contributing to the
5.81% increase in the total value of our portfolio over the month.
Costs were well contained which culminated in a 5.39% increase in
the NAV for the month. By comparison, the FTSE 100 was down by
0.07%, the FTSE 250 Index was up by 2.56% and the AIM All Share
Index was up by 0.22%. The s mall caps were mixed, with the
Fledging Index down by 0.35% while the Small Cap Index was up by
0.24%. Elsewhere, Global markets ended the month in positive
territory, with the MSCI increasing by 1.72% and the S&P 500 up
by 2.27%.
There were minor changes to the portfolio holdings during the
month as we top sliced our exposure to AEW and added to our holding
in Fevertree Drinks. Cash received by way of dividends resulted in
a slight increase in the overall cash position which currently
represents 2.6% of the portfolio value as at the end of July.
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 AM
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$1500m 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)
AUD25m www.barrackst.com
-- Global Masters Fund Limited (ASX code: GFL)
AUD25m 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
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