HALF-YEARLY FINANCIAL REPORT 2024 - Flipbook - Page 3
THE EDINBURGH INVESTMENT TRUST PLC / OVERVIEW / 1
OVERVIEW
£1,186m
INVESTMENT OBJECTIVE
NET ASSETS
(2023: £1,122M)
The Edinburgh Investment Trust plc (‘The Company’) is an investment trust whose
investment objective is to invest primarily in UK securities with the long-term objective
of achieving:
750.00p
1. an increase of the Net Asset Value per share in excess of the growth in the FTSE
All-Share Index; and
SHARE PRICE
(2023: 668.00P)
2. growth in dividends per share in excess of the rate of UK inflation.
(9.7)%
DISCOUNT*
(2023: (8.7)%)
2.1%
GEARING (NET)*
(2023: 4.1%)
*Alternative Performance
Measures as defined
on pages 25 to 28
The Company will generally invest in companies quoted on a recognised stock exchange
in the UK. The Company may also invest up to 20% of the portfolio in securities listed on
stock exchanges outside the UK. The portfolio is selected on the basis of assessment of
fundamental value of individual securities and is not structured on the basis of industry
weightings.
NATURE OF THE COMPANY
The Company is a public listed Investment Company whose shares are traded on the
London Stock Exchange (‘LSE’). The business of the Company consists of investing the
pooled funds of its shareholders, according to a specified investment objective and
policy (set out on page 15 of the Company’s 2024 Annual Financial Report), with the
aim of spreading investment risk and generating a return for shareholders.
The Company uses borrowing to enhance returns to shareholders. This increases the
risk to shareholders should the value of investments fall.
The Company has contracted an external manager, Liontrust Fund Partners LLP
(‘LFP’ or the ‘Manager’), as Alternative Investment Fund Manager (‘AIFM’) to manage
its investments. Other administrative functions are contracted to external services
providers. The Company has a Board of non-executive directors who oversee
and monitor the activities of the Manager and other service providers on behalf of
shareholders and ensure that the investment objective and policy are adhered to. The
Company has no employees.
The Company’s ordinary shares qualify as mainstream investment products suitable
for promotion to retail investors. The Company’s ordinary shares are eligible for
investment in an ISA.
