DOCSLIB.ORG

Janus Henderson Investment Funds Series III

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Janus Henderson Investment Funds Series III & ACCOUNTS For the year ended 31 October 2019 ANNUAL REPORT ANNUAL Janus Henderson Investment Funds Series III Janus Henderson Investment Funds Series III A Who are Janus Henderson Investors? Janus Henderson Investors exists to help clients achieve their long-term fi nancial goals. Our active management off ers clients the opportunity to outperform passive portfolios over the course of market cycles. With more than 360 investment professionals, we provide access to some of the industry’s most talented and innovative thinkers, spanning equities, fi xed income, multi-asset, and alternatives, globally. Our investment teams blend insight, originality, and precision with rigorous analysis, structured processes, and robust risk management. We build client partnerships on openness and trust, channelling expertise from across the business and communicating the views of our experts in a timely and relevant way. As at 30 September 2019, we had £289.0bn assets under management, more than 2,000 employees and 28 offi ces worldwide. Headquartered in London, we are an independent asset manager that is dual-listed on the New York Stock Exchange and the Australian Securities Exchange. Contents Authorised Corporate Director’s (ACD) report Page 1 Director’s statement Page 1 Market review Page 3 Statement of Authorised Corporate Director’s (ACD) responsibilities Page 5 Statement of the Depositary’s responsibilities and report of the Depositary to the shareholders Page 6 of Janus Henderson Investment Funds Series III Independent Auditors’ report to the shareholders of Janus Henderson Investment Funds Series III Page 7 Aggregated notes to the fi nancial statements Page 9 Financial statements Janus Henderson UK Index Fund Page 14 Janus Henderson UK Tracker Fund Page 48 Gartmore Pacifi c Rim Index Fund Page 69 Appendix - additional information (unaudited) Securities fi nancing transactions Page 74 Remuneration policy Page 78 Further information Page 80 Authorised Corporate Director’s (ACD) report for the year ended 31 October 2019 We are pleased to present the Annual Report and Accounts for Janus Henderson Investment Funds Series III (the ‘Company’) for the year ended 31 October 2019 Authorised status The Company is an open-ended investment company (OEIC) with variable capital incorporated in England and Wales under registered number IC000218 and authorised by the Financial Conduct Authority (FCA) with eff ect from 14 March 2003. It is a UCITS (Undertakings for Collective Investment in Transferable Securities) scheme structured as an umbrella company, comprising three sub- funds (‘funds‘), complying with chapter 5 of the Collective Investment Schemes Sourcebook (COLL). The operation of the Company is governed by the OEIC regulations, COLL, its Instrument of Incorporation and Prospectus. The Company has an unlimited duration. Shareholders are not liable for the debts of the Company. Fund liabilities Each fund is treated as a separate entity and has a segregated portfolio of assets. The assets of a fund belong exclusively to that fund and can only be used to meet the liabilities of, or claims against, that fund. Brexit update Janus Henderson Investors has a well-established project underway looking at all possible Brexit impacts including distribution, regulatory permissions and licences, Human Resources, Information Technology and Operations. Janus Henderson Investors is seeking to minimise the potential impact on investors, and like all fi rms, is operating in an environment that is uncertain and subject to change. We are proud of our long history in both the UK and continental Europe, and are in a strong position to continue to serve our investors after the UK leaves the European Union. Other information Gartmore Pacifi c Rim Index Fund merged into Gartmore Pacifi c Opportunities on 17 March 2007 and further merged into Janus Henderson Asia Pacifi c Capital Growth in August 2011, a sub-fund of Janus Henderson Global Funds. The fund holds an illiquid stock on the Portfolio statement which has prevented the fund from terminating. It is the ACD’s intention to terminate the Gartmore Pacifi c Rim Index Fund once this stock is removed from the Portfolio statement and as such the fi nancial statements of the fund have been prepared on a basis other than going concern. Janus Henderson UK Index Fund and Janus Henderson UK Tracker Fund merged into Janus Henderson Institutional UK Index Opportunities Trust on 5 December 2019. The Janus Henderson UK Index Fund holds illiquid stocks on the portfolio statement and it is the ACD’s intention to terminate the fund once the stocks are removed from the Portfolio statements. The funds’ are not considered to be a going concern and as such the fi nancial statements have been prepared on a basis other than going concern. Value Assessment The FCA, the UK fi nancial regulator, recently introduced requirements for Authorised Corporate Directors to conduct a Value Assessment for each fund they manage. Janus Henderson Investors is carrying out its fi rst assessment for all funds as at 31 December 2019 and a summary of the fi ndings will be made available on our website www.janushenderson.com no later than 30 April 2020. Director’s statement This report has been prepared in accordance with the requirements of the Collective Investment Schemes Sourcebook as issued and amended by the Financial Conduct Authority. I hereby certify the investment review and fi nancial statements on behalf of the Directors of Henderson Investment Funds Limited. G Foggin (Director) 6 February 2020 Janus Henderson Investment Funds Series III 1 Authorised Corporate Director’s (ACD) report (continued) Service providers Name Address Regulator Authorised Corporate Henderson Investment Funds Registered Offi ce: Authorised and regulated by the Director (ACD) Limited 201 Bishopsgate London Financial Conduct Authority Member of the Investment EC2M 3AE Association Registered in England No 2678531 The ultimate holding company is Dealing – 0845 608 8703 Janus Henderson Group plc Enquiries – 0800 832 832 Directors of the ACD R Chaudhuri (to 07.03.19) A Crooke G Foggin G Fogo S Hillenbrand H J de Sausmarez P Shea (from 07.06.19)* F Smith (from 28.03.19)* R Thompson *Independent Investment Manager State Street Global Advisors 20 Churchill Place Authorised and regulated by Limited London the Financial Conduct Authority Member of the Investment E14 5HJ Association Shareholder Administrator DST Financial Services DST House Authorised and regulated by International Limited and St Nicholas Lane the Financial Conduct Authority DST Financial Services Basildon Europe Limited Essex SS15 5FS Depositary NatWest Trustee and 250 Bishopsgate Authorised by the Prudential Depositary Services Limited London Regulation Authority and The ultimate holding company EC2M 4AA regulated by the Financial is Royal Bank of Scotland Conduct Authority and by the Group plc Prudential Regulation Authority Independent Auditors PricewaterhouseCoopers 141 Bothwell Street Institute of Chartered LLP Glasgow Accountants in England G2 7EQ and Wales Legal Adviser Eversheds Sutherland One Wood Street The Law Society (International) LLP London EC2V 7WS 2 Janus Henderson Investment Funds Series III Market review for the year ended 31 October 2019 Global equity markets rose over the year to 31 October 2019 (FTSE World Index +11.7% in sterling, +12.9% in local currency terms). Markets experienced a large fall at the end of 2018 but bounced back as they moved into 2019. This recovery was mainly driven by more dovish rhetoric from the major central banks and interest rate cuts by the US Federal Reserve (Fed) during the fi nal few onthsm of the year. Investor sentiment was boosted by hopes that the trade dispute between China and the US would ultimately be settled, although this did not transpire during the year. In the UK, the FTSE All Share Index rose 6.8%. The UK’s exit from the EU dominated headlines. The original 29 March deadline was delayed, in the fi rst instance to 31 October, and then to 31 January, as parliament could not agree on a Brexit deal. The country saw a change in leadership when Prime Minister Theresa May was replaced by Boris Johnson in July. He succeeded in renegotiating a deal with the EU but decided to call an election when it became clear that opposition parties would attempt to amend the deal. Sterling was down over the year, owing to the uncertainties surrounding Brexit, although it recovered in the latter months as a deal appeared more likely. UK equities were volatile but ended higher as larger-cap, overseas-earning stocks benefi ted from sterling weakness. The UK economy was relatively lacklustre, despite strong employment trends and recovering wage growth. Second-quarter GDP growth came in signifi cantly below expectations at -0.2%, representing the fi rst contraction in nearly seven years. The Bank of England (BoE)held rates steady but gave clear guidance that looser monetary policy was a possibility. European equities gained over the year (FTSE World Europe ex UK 11.5% in sterling, 14.3% in euros). The rise in European markets was driven largely by the return of easier monetary policy, particularly in the US and Europe. The European Central Bank (ECB) reintroduced quantitative easing through a new bond-purchasing scheme (due to commence on 1 November) while also cutting the deposit interest rate further, to -0.5% from -0.4% in September. The market had declined along with most of its global peers in December 2018 but recovered in the fi rst quarter of 2019, before experiencing volatility related to US/China trade tensions and Brexit in the summer months. Eurozone economic data remained muted: the annual growth rate sank to 1.1% in the second quarter of 2019, and infl ation fell sharply to -0.5% in July (though it recovered to 0.2% in September). The German economy, the largest in Europe, fl irted with recession, experiencing negative quarterly growth in the second quarter of 2019.
Load more

Recommended publications
  • Xtrackers Etfs
    Xtrackers*/** Société d’investissement à capital variable R.C.S. Luxembourg N° B-119.899 Unaudited Semi-Annual Report For the period from 1 January 2018 to 30 June 2018 No subscription can be accepted on the basis of the financial reports. Subscriptions are only valid if they are made on the basis of the latest published prospectus of Xtrackers accompanied by the latest annual report and the most recent semi-annual report, if published thereafter. * Effective 16 February 2018, db x-trackers changed name to Xtrackers. **This includes synthetic ETFs. Xtrackers** Table of contents Page Organisation 4 Information for Hong Kong Residents 6 Statistics 7 Statement of Net Assets as at 30 June 2018 28 Statement of Investments as at 30 June 2018 50 Xtrackers MSCI WORLD SWAP UCITS ETF* 50 Xtrackers MSCI EUROPE UCITS ETF 56 Xtrackers MSCI JAPAN UCITS ETF 68 Xtrackers MSCI USA SWAP UCITS ETF* 75 Xtrackers EURO STOXX 50 UCITS ETF 80 Xtrackers DAX UCITS ETF 82 Xtrackers FTSE MIB UCITS ETF 83 Xtrackers SWITZERLAND UCITS ETF 85 Xtrackers FTSE 100 INCOME UCITS ETF 86 Xtrackers FTSE 250 UCITS ETF 89 Xtrackers FTSE ALL-SHARE UCITS ETF 96 Xtrackers MSCI EMERGING MARKETS SWAP UCITS ETF* 111 Xtrackers MSCI EM ASIA SWAP UCITS ETF* 115 Xtrackers MSCI EM LATIN AMERICA SWAP UCITS ETF* 117 Xtrackers MSCI EM EUROPE, MIDDLE EAST & AFRICA SWAP UCITS ETF* 118 Xtrackers MSCI TAIWAN UCITS ETF 120 Xtrackers MSCI BRAZIL UCITS ETF 123 Xtrackers NIFTY 50 SWAP UCITS ETF* 125 Xtrackers MSCI KOREA UCITS ETF 127 Xtrackers FTSE CHINA 50 UCITS ETF 130 Xtrackers EURO STOXX QUALITY
    [Show full text]
  • Annual Report and Audited Financial Statements
    Annual report and audited financial statements BlackRock Charities Funds • BlackRock Armed Forces Charities Growth & Income Fund • BlackRock Catholic Charities Growth & Income Fund • BlackRock Charities Growth & Income Fund • BlackRock Charities UK Bond Fund • BlackRock Charities UK Equity ESG Fund • BlackRock Charities UK Equity Fund • BlackRock Charities UK Equity Index Fund For the financial period ended 30 June 2020 Contents General Information 2 About the Trust 3 Charity Authorised Investment Fund 4 Charity Trustees’ Investment Responsibilities 4 Fund Manager 4 Significant Events 4 Investment Report 5 Report on Remuneration 15 Accounting and Distribution Policies 21 Financial Instruments and Risks 24 BlackRock Armed Forces Charities Growth & Income Fund 37 BlackRock Catholic Charities Growth & Income Fund 56 BlackRock Charities Growth & Income Fund 74 BlackRock Charities UK Bond Fund 95 BlackRock Charities UK Equity ESG Fund 111 BlackRock Charities UK Equity Fund 125 BlackRock Charities UK Equity Index Fund 138 Statement of Manager’s and Trustee’s Responsibilities 162 Independent Auditor’s Report 165 Supplementary Information 169 1 General Information Advisory Committee Members - BlackRock manager of the Funds, each of which is an alternative Armed Forces Charities Growth & Income investment fund for the purpose of the Alternative Fund: Investment Fund Managers Directive. Mr Michael Baines (Chairman) Mr Guy Davies Directors of the Manager Major General A Lyons CBE G D Bamping* Major General Ashley Truluck CB, CBE M B Cook Colonel
    [Show full text]
  • Description Iresscode Exchange Current Margin New Margin 3I
    Description IRESSCode Exchange Current Margin New Margin 3I INFRASTRUCTURE PLC 3IN LSE 20 20 888 HOLDINGS PLC 888 LSE 20 20 ASSOCIATED BRITISH ABF LSE 10 10 ADMIRAL GROUP PLC ADM LSE 10 10 AGGREKO PLC AGK LSE 20 20 ASHTEAD GROUP PLC AHT LSE 10 10 ANTOFAGASTA PLC ANTO LSE 15 10 ASOS PLC ASC LSE 20 20 ASHMORE GROUP PLC ASHM LSE 20 20 ABERFORTH SMALLER COM ASL LSE 20 20 AVEVA GROUP PLC AVV LSE 20 20 AVIVA PLC AV LSE 10 10 ASTRAZENECA PLC AZN LSE 10 10 BABCOCK INTERNATIONAL BAB LSE 20 20 BARR PLC BAG LSE 25 20 BARCLAYS PLC BARC LSE 10 10 BRITISH AMERICAN TOBA BATS LSE 10 10 BAE SYSTEMS PLC BA LSE 10 10 BALFOUR BEATTY PLC BBY LSE 20 20 BARRATT DEVELOPMENTS BDEV LSE 10 10 BARING EMERGING EUROP BEE LSE 50 100 BEAZLEY PLC BEZ LSE 20 20 BH GLOBAL LIMITED BHGG LSE 30 100 BOWLEVEN PLC BLVN LSE 60 50 BANKERS INVESTMENT BNKR LSE 20 20 BUNZL PLC BNZL LSE 10 10 BODYCOTE PLC BOY LSE 20 20 BP PLC BP LSE 10 10 BURBERRY GROUP PLC BRBY LSE 10 10 BLACKROCK WORLD MININ BRWM LSE 20 65 BT GROUP PLC BT-A LSE 10 10 BRITVIC PLC BVIC LSE 20 20 BOVIS HOMES GROUP PLC BVS LSE 20 20 BROWN GROUP PLC BWNG LSE 25 20 BELLWAY PLC BWY LSE 20 20 BIG YELLOW GROUP PLC BYG LSE 20 20 CENTRAL ASIA METALS PLC CAML LSE 40 30 CLOSE BROTHERS GROUP CBG LSE 20 20 CARNIVAL PLC CCL LSE 10 10 CENTAMIN PLC CEY LSE 20 20 CHARIOT OIL & GAS LTD CHAR LSE 100 100 CHEMRING GROUP PLC CHG LSE 25 20 CONYGAR INVESTMENT CIC LSE 50 40 CALEDONIA INVESTMENTS CLDN LSE 25 20 CARILLION PLC CLLN LSE 100 100 COMMUNISIS PLC CMS LSE 50 100 CENTRICA PLC CNA LSE 10 10 CAIRN ENERGY PLC CNE LSE 30 30 COBHAM PLC
    [Show full text]
  • Parker Review
    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
    [Show full text]
  • SAVANNAH 2020 BOARD REVIEW an Analysis of the FTSE 100 & FTSE 250 Executive and Non-Executive Board Appointments in 2020 INTRODUCTION
    www.savannah-group.com SAVANNAH 2020 BOARD REVIEW An analysis of the FTSE 100 & FTSE 250 Executive and Non-Executive Board appointments in 2020 INTRODUCTION Welcome to our analysis of the board appointments driven lockdowns and market spasms. The numbers to the FTSE 100 and FTSE 250 listed companies in Q4 suggest, surprisingly, that the events of 2019 caused 2020 and our deeper analysis of the full year. more of a slowdown in executive director changes than the pandemic but this is still to play out. More We now have three full years of analysis and trends on this later. from our close monitoring of the FTSE 350 board appointments. For readers interested in tracking Speaking of the rapid rise in the number of women the developments for themselves, here are our in the boardrooms, the Hampton-Alexander Review reports for the full year 2018 and for the full year has just published its fifth and final report. The 2019. Following our 2018 report, we have continued fundamental targets for female representation in to publish quarterly updates allowing us to see the the boardrooms have been achieved and the emerging trends, most particularly the rapid rise momentum is in place to continue the Government in the number of women in the boardrooms and backed, business led drive for more women in the that, in turn, revealed the yawning gap between vital executive committee roles. It will be no surprise the relative numbers of women in non-executive to readers of this report that the majority (52%) of director roles and executive director roles, one of non-executive director appointments to the FTSE 350 the most serious governance issues facing us.
    [Show full text]
  • Annual Report
    Building Long-term Wealth by Investing in Private Companies Annual Report and Accounts 12 Months to 31 January 2021 Our Purpose HarbourVest Global Private Equity (“HVPE” or the “Company”) exists to provide easy access to a diversified global portfolio of high-quality private companies by investing in HarbourVest-managed funds, through which we help support innovation and growth in a responsible manner, creating value for all our stakeholders. Investment Objective The Company’s investment objective is to generate superior shareholder returns through long-term capital appreciation by investing primarily in a diversified portfolio of private markets investments. Our Purpose in Detail Focus and Approach Investment Manager Investment into private companies requires Our Investment Manager, HarbourVest Partners,1 experience, skill, and expertise. Our focus is on is an experienced and trusted global private building a comprehensive global portfolio of the markets asset manager. HVPE, through its highest-quality investments, in a proactive yet investments in HarbourVest funds, helps to measured way, with the strength of our balance support innovation and growth in the global sheet underpinning everything we do. economy whilst seeking to promote improvement in environmental, social, Our multi-layered investment approach creates and governance (“ESG”) standards. diversification, helping to spread risk, and is fundamental to our aim of creating a portfolio that no individual investor can replicate. The Result Company Overview We connect the everyday investor with a broad HarbourVest Global Private Equity is a Guernsey base of private markets experts. The result is incorporated, London listed, FTSE 250 Investment a distinct single access point to HarbourVest Company with assets of $2.9 billion and a market Partners, and a prudently managed global private capitalisation of £1.5 billion as at 31 January 2021 companies portfolio designed to navigate (tickers: HVPE (£)/HVPD ($)).
    [Show full text]
  • Changing Times INVESTING for a NEW WORLD ORDER?
    SUMMER 2018 Changing times INVESTING FOR A NEW WORLD ORDER? alliancetrustsavings.co.uk Welcome to the latest edition of Taking Stock. Changing times If this edition had a theme tune it might be something like Bob Dylan’s 1960s classic The Times They Are A-Changin’. Or at least that’s how it feels to many of us. US protectionism, Trump-style diplomacy, North Korea, Iran, Syria, Russia, China, Brexit, Facebook, Cambridge Analytica. These have all been headline makers for 2018 so far, and some have undoubtedly been implicated in increased market volatility. Around the world the political and economic power of nation states has always ebbed and flowed. Alliances are made and undone. And the fortunes of individual corporations rise and fall. But the question for investors today is, are we just looking at a variation on a theme of business as usual for the world’s established economic power base? Or is something else going on? Are we on the cusp of some more fundamental change in the world economic order? Keeping ahead of the curve Views on this matter because searching for growth necessarily involves looking ahead and understanding where the longer-term opportunities and threats are likely to be. In this edition of Taking Stock our expert contributors explore the potential implications of the developing picture. From how it’s influencing investment decisions today, to steps any investor can take to make the most of their money in uncertain times. As always, I hope you will find it an informative read. If you have any feedback or suggestions for future editions, please get in touch.
    [Show full text]
  • FTSE Factsheet
    FTSE COMPANY REPORT Share price analysis relative to sector and index performance BB Healthcare Trust BBH Closed End Investments — GBP 1.964 at close 20 April 2021 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 21-Apr-2015 1D WTD MTD YTD Absolute - - - - Rel.Sector - - - - Rel.Market - - - - VALUATION Data unavailable Trailing PE 6.0 EV/EBITDA 5.4 PB 1.1 PCF -ve Div Yield 2.6 Price/Sales 5.7 Net Debt/Equity 0.0 Div Payout 15.4 ROE 21.6 DESCRIPTION Data unavailable The Company is a closed-ended investment company which to invest in a concentrated portfolio of listed or quoted equities in the global healthcare industry. Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: BB Healthcare Trust 20 April 2021 Valuation Metrics Price to Earnings (PE) EV to EBITDA Price to Book (PB) 31-Mar-2021 31-Mar-2021 31-Mar-2021 25 25 1.5 1.4 20 20 +1SD 1.3 +1SD +1SD 1.2 Avg 15 15 1.1 Avg Avg -1SD 1 10 10 0.9 -1SD -1SD 5 5 0.8 Apr-2016 Apr-2017 Apr-2018 Apr-2019 Apr-2020 Apr-2016 Apr-2017 Apr-2018 Apr-2019 Apr-2020 Apr-2016 Apr-2017 Apr-2018 Apr-2019 Apr-2020 Murray International Trust (Ord) 120.0 Murray International Trust (Ord) 100.0 CVC Credit Partners European Opportunities (GBP) 2.3 European Opportunities Trust 120.0 European Opportunities Trust 100.0 Hipgnosis Songs Fund 2.2 Law Debenture Corp 120.0 Law Debenture Corp 100.0 Pacific Horizon Investment Trust 2.0 HICL Infrastructure 64.6 HICL Infrastructure 64.5 Scottish
    [Show full text]
  • FTSE Factsheet
    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Data as at: 12 July 2018 Downing Three VCT PLC TICKER Equity Investment Instruments — GBP 0.0255 at close 12 July 2018 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 12-Jul-2018 12-Jul-2018 12-Jul-2018 0.25 250 250 1D WTD MTD YTD Absolute 0.0 0.0 0.0 0.0 Rel.Sector -0.4 -0.8 -0.5 -2.0 0.2 200 200 Rel.Market -0.7 -0.5 -0.1 0.3 0.15 150 150 VALUATION (local currency) (local Trailing 0.1 Relative Price 100 Relative Price 100 PE 0.4 Absolute Price Price Absolute EV/EBITDA 0.3 0.05 50 50 PCF -ve PB 0.0 0 0 0 Price/Sales 0.2 Jul-2017 Oct-2017 Jan-2018 Apr-2018 Jul-2018 Jul-2017 Oct-2017 Jan-2018 Apr-2018 Jul-2018 Jul-2017 Oct-2017 Jan-2018 Apr-2018 Jul-2018 Div Yield 0.0 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Div Payout +ve 100 100 100 ROE 2.2 90 90 90 Net Debt/Equity -ve 80 80 80 70 70 70 60 60 60 DESCRIPTION 50 50 50 The Company is an investment company as defined 40 40 40 RSI (Absolute) RSI in Section 266 of the Companies Act 1985 and has 30 30 30 received provisional approval to act as a Venture 20 20 20 Capital Trust from HM Revenue and Customs.
    [Show full text]
  • Good and Bad News for Investors
    STOCKS | FUNDS | INVESTMENT TRUSTS | PENSIONS AND SAVINGS VOL 19 / ISSUE 46 / 23 NOVEMBER 2017 / £4.49 SHARES WE MAKE INVESTING EASIER CAN YOUR HOME FUND YOUR RETIREMENT? Good and bad news for investors WHY DO 5 QUESTIONS COMPANIES DIGITAL DISRUPTION RAISED BY BUY BACK HOW TO INVEST IN GAME ZPG’S MOVE ON SHARES? CHANGING COMPANIES GOCOMPARE Fundsmith LLP (“Fundsmith”) is authorised and regulated by The Fundsmith Emerging Equities Trust the Financial Conduct Authority and only acts for the funds (FEET) research team searches the world to to whom it provides regulated investment management and find companies that make their money from a transaction arrangement services. Fundsmith does not act for or advise potential investors in connection with acquiring large number of everyday, repeat, predictable shares in Fundsmith Emerging Equities Trust plc and will not transactions and will benefit from the rise of the be responsible to potential investors for providing them with protections afforded to clients of Fundsmith. consumer in developing economies. Prospective investors are strongly advised to take their own For example, Indofood sold 9 billion packets of legal, investment and tax advice from independent and suitably qualified advisers. The value of investments may Indomie noodles last year, Magnit welcomed 11 million go up as well as down. Past performance is not a guide to shoppers a day, MercadoLibre sold over 50 million future performance. items on its website last quarter and Dabur’s Hajmola FEET Performance, % Total Return tablets were taken 26 million times a day in India. Year ending 31st August 2017 2016 2015 Since inception You may never have heard of them, despite their FEET Share Price +3.6 +21.5 -16.2 +15.5 scale, but all can be found in the FEET portfolio.
    [Show full text]
  • 2017 Annual Report
    Annual Report 2017 Capital and income growth from active global equity investment Witan Investment Trust plc Our objective /RQJWHUPJURZWKLQLQFRPHDQGFDSLWDOWKURXJK 4USBUFHJD3FQPSU 01 3HUIRUPDQFHVQDSVKRW DFWLYHPXOWLPDQDJHULQYHVWPHQWLQJOREDOHTXLWLHV 02 )LQDQFLDOKLJKOLJKWV 04 &KDLUPDQpVUHSRUW 06 &KLHI([HFXWLYHpVUHSRUW 08 6WUDWHJLF5HSRUW :LWDQLVDQLQYHVWPHQWWUXVWZKLFKLVOLVWHGRQWKH 21 ,QYHVWPHQW0DQDJHUV 24 )LIW\/DUJHVW,QYHVWPHQWV /RQGRQ6WRFN([FKDQJHDQGZDVIRXQGHGLQ 25 &ODVVLßFDWLRQRI,QYHVWPHQWV %JSFDUPSTn3FQPSU :LWDQRIIHUVDFWLYHO\PDQDJHGH[SRVXUHWRJOREDO 26 Board of Directors 28 'LUHFWRUVp5HSRUW PDUNHWV SULQFLSDOO\HTXLWLHV XVLQJDPXOWLPDQDJHU $PSQPSBUF(PWFSOBODF DSSURDFK7KHSRUWIROLRLVGLYHUVLßHGE\JHRJUDSKLFDO 32 &RUSRUDWH*RYHUQDQFH6WDWHPHQW 41 5HSRUWRIWKH$XGLW&RPPLWWHH UHJLRQLQGXVWULDOVHFWRUDQGDWWKHLQGLYLGXDOVWRFN 43 'LUHFWRUVp5HPXQHUDWLRQ5HSRUW OHYHO 56 6WDWHPHQWRI'LUHFWRUVp5HVSRQVLELOLWLHV 'JOBODJBMTUBUFNFOUT 57 ,QGHSHQGHQW$XGLWRUpV5HSRUW :LWDQW\SLFDOO\XVHVEHWZHHQDQGLQYHVWPHQW 64&RQVROLGDWHG6WDWHPHQWRI &RPSUHKHQVLYH,QFRPH PDQDJHUV7KHEOHQGRIGLIIHUHQWDFWLYHDSSURDFKHV 65&RQVROLGDWHGDQG,QGLYLGXDO&RPSDQ\Statement RI&KDQJHVLQ(TXLW\ DQGVW\OHVDLPVWRGHOLYHUDGGHGYDOXHIRU 66&RQVROLGDWHGDQG,QGLYLGXDO&RPSDQ\%DODQFH VKDUHKROGHUVZKLOHVPRRWKLQJRXWWKHYRODWLOLW\ Sheets 67&RQVROLGDWHGDQG,QGLYLGXDO&RPSDQ\ QRUPDOO\DVVRFLDWHGZLWKDVLQJOHPDQDJHU &DVK)ORZ6WDWHPHQWV 68 1RWHVWRWKH)LQDQFLDO6WDWHPHQWV 0UIFS*OGPSNBUJPO 94 Other Information 96$OWHUQDWLYH,QYHVWPHQW)XQG0DQDJHUVp 'LUHFWLYH 97 +LVWRULFDOUHFRUG 98 +RZWRLQYHVW 99 6KDUHKROGHULQIRUPDWLRQ and AOWHUQDWLYH 5PßOEPVUNPSF
    [Show full text]
  • UK Investment Trusts Index This Listing Aims to Help Readers to Locate an Investment Trust in the AIC Sectors
    UK Investment Trusts Index This listing aims to help readers to locate an investment trust in the AIC sectors. Funds are presented in alphabetical order by provider. Fund name Sector Fund name Sector Fund name Sector 3i Group Plc Private Equity Blackstone/GSO Loan Financing Limited Debt - Structured Finance Energiser Investments PLC Unclassified 3I Infrastructure Plc Infrastructure Blue Planet Investment Trust PLC ORD 1P Global High Income EP Global Opportunities Trust PLC Global Aberdeen Asian Income LTd Asia Pacific Income Blue Star Capital PLC Unclassified EPE Special Opportunities Unclassified Ab Div Inc & Grw Trt Flexible Investment Bluefield Solar Income Limited Renewable Energy Infrastructure European Assets Trust PLC European Smaller Companies AbrEmrMrInvCmpLtd Global Emerging Markets BMO Cap & Inc IT PLC UK Equity Income F&C Investment Trust Plc Global Abr Frn Mr Inv CmpLtd Global Emerging Markets BMO Commercial Property Trust Limited Property - UK Commercial F&C UK Real Estate Investments Limited Property - UK Commercial Aberdeen Japan IT PLC Japan BMO Global Smaller Companies Plc Global Smaller Companies Fair Oaks Income Limited 2017 SHS Debt - Structured Finance Aberdeen Latin American Income Ltd Latin America BMO Managed Portfolio Trust Plc Growth Flexible Investment FastForward Innovations Limited Ord 1P Private Equity Abrdn New Dawn IT PLC Asia Pacific BMO Managed Portfolio Trust Plc Inc Flexible Investment Fidelity Asian Values PLC Asia Pacific Aberdeen New Ind IT PLC Ord Country Specialist: Asia Pacific ex Jap BMO Private
    [Show full text]