Perpetual Income and Growth Investment Trust plc
Interim Management Statement
for the Three Months ended 31 December 2013
Material Events
No material events occurred during the period.
Dividends
A first interim dividend for the year ending 31 March 2014 of 2.70p per
Ordinary share was paid on 30 September 2013 to Ordinary shareholders on the
Company's register on 6 September 2013. The shares were quoted ex-dividend on 4
September 2013.
During the period, a second interim dividend of 2.70p per Ordinary share was
declared and paid for the year ending 31 March 2014. This dividend was paid on
27 December 2013 to Ordinary shareholders on the Company's register on 6
December 2013. The shares were quoted ex-dividend on 4 December 2013.
Performance - Total Return
3 Months 1 Year 3 Years 5 Years
Share Price 7.2% 34.6% 66.4% 130.7%
Net Asset Value 8.1% 38.1% 66.1% 130.3%
FTSE All-Share Index 5.5% 20.8% 31.0% 95.2%
Source: Thomson Reuters Datastream
Share Price and Discount
For the Three Months Ended
As at 31-Dec-13
31-Dec-13 High Low Average
Ordinary shares mid- 376.00 376.00 345.70 357.50
market price (pence)
Discount/(Premium) (0.0)%
Source: Thomson Reuters Datastream
Assets and Gearing
31-Dec-13
Total Gross Assets (£m) 1,022.7
Borrowings (£m) 143.7
Cum income Net Asset Value - diluted (pence) 376.0
Gross Gearing 16.3%
Net Gearing 16.3%
Gross Gearing reflects the amount of gross borrowings in use by a company and
takes no account of any cash balances. It is based on gross borrowings as a
percentage of shareholders' funds.
Net Gearing reflects the amount of net borrowings invested i.e. borrowings less
cash and UK government bonds. It is based on net borrowings as a percentage of
shareholders' funds.
Industry Breakdown of Portfolio
The below industry breakdown follows the FTSE Industry Classification
Benchmark.
31-Dec-13
Financials 22.3%
Health Care 20.2%
Industrials 17.3%
Consumer Goods 14.6%
Consumer Services 10.9%
Telecommunications 9.2%
Utilities 5.3%
Basic Materials 0.2%
Total 100%
Top Ten Holdings
Investment % of Portfolio
1 BT Group 5.2%
2 British American Tobacco 4.6%
3 AstraZeneca 4.2%
4 Novartis - Swiss common stock 4.2%
5 Roche - Swiss common Stock 3.7%
6 BAE Systems 3.7%
7 Imperial Tobacco 3.7%
8 Reynolds American - US common stock 3.7%
9 Thomas Cook 3.6%
10 GlaxoSmithKline 3.3%
All ordinary shares unless otherwise stated.
Changes to Share Capital
Ordinary Shares of 10p
each
Issued Treasury
As at 30-Sep-13 232,564,296 -
Ordinary shares bought - -
back
Ordinary shares issued 1,251,879 -
As at 30-Dec-13 233,816,175 -
During the period the Company issued 283,247 new ordinary shares at a price of
354p per share on 1 October 2013 and 268,632 new ordinary shares at a price of
379p per share on 30 December 2013 to satisfy demand from the Invesco saving
scheme and ISA quarterly dividend reinvestment.
A further 550,000 new ordinary shares were issued at a price of 351p per share
on 8 October 2013 and 150,000 new ordinary shares at a price of 355p per share
on 11 October 2013 to satisfy market demand. No further ordinary shares have
been issued or brought back since the period end of 31 December 2013.
The Company has authority to buy back shares (for cancellation or into
treasury) and to issue new shares (disapplying pre-emption rights), in each
case within specified limits. The Company expects to renew these authorities
each year.
Administration
The Company's Ordinary shares are listed on the London Stock Exchange and the
price is published in the Financial Times, Daily Telegraph, The Times, The
Independent and The Evening Standard.
The net asset value of the Company 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.
Interim management statements are expected to be published in January and July
each year.
Invesco Asset Management Limited
For and on behalf of
Perpetual Income and Growth Investment Trust plc
22 January 2014
Registered Office
30 Finsbury Square, London, EC2A 1AG
Telephone: 020 7065 4000
Facsimile: 020 7065 3166
Registered in England No 3156676
An Investment Company under Section 833
of the Companies Act 2006