267694 EdinburghIT AR 2024 WEB - Flipbook - Page 3
THE EDINBURGH INVESTMENT TRUST PLC / OVERVIEW / 1
OVERVIEW
£1,135m
INVESTMENT OBJECTIVES
NET ASSETS
(2023: £1,139m)
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:
690.00p
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: 660.00p)
2. growth in dividends per share in excess of the rate of UK inflation.
3.9%
DIVIDEND YIELD*
(2023: 4.0%)
11.5%
DISCOUNT*
(2023: 7.5%)
0.53%
ONGOING CHARGES
RATIO* (2023: 0.53%)
3.1%
GEARING (NET)*
(2023: 4.7%)
*Alternative Performance
Measures as defined on
pages 84 to 87.
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), 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 to be considered as mainstream investment
products suitable for promotion to retail investors. The Company’s ordinary shares
are eligible for investment in an ISA.
