BlackRock Throgmorton Trust Plc - Portfolio Update
The information contained in this release was correct as at
https://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html .
All information is at
Performance at month end is calculated on a cum income basis
One Three One Three Five Month months year years years % % % % % Net asset value 3.4 2.7 10.2 -12.6 32.1 Share price 1.7 -3.2 3.4 -22.5 26.2 Benchmark* 3.0 -0.8 3.0 -12.7 14.9
Sources: BlackRock and Deutsche Numis
*With effect from
At month end Net asset value capital only: 650.37p Net asset value incl. income: 653.68p Share price 587.00p Discount to cum income NAV 10.2% Net yield1: 2.5% Total Gross assets2: £609.7m Net market exposure as a % of net asset value3: 118.4% Ordinary shares in issue4: 93,278,514 2023 ongoing charges (excluding performance fees)5,6: 0.54% 2023 ongoing charges ratio (including performance 0.87% fees)5,6,7:
1. Calculated using the interim dividend declared on
2. Includes current year revenue and excludes gross exposure through contracts for difference.
3. Long exposure less short exposure as a percentage of net asset value.
4. Excluding 9,931,350 shares held in treasury.
5. The Company’s ongoing charges are calculated as a percentage of average daily net assets and using the management fee and all other operating expenses, excluding performance fees, finance costs, direct transaction charges, VAT recovered, taxation and certain other non-recurring items for the year ended
6. With effect from
7. Effective
Sector Weightings % of Total Assets Industrials 36.0 Consumer Discretionary 22.8 Financials 15.7 Basic Materials 6.8 Technology 6.5 Telecommunications 3.8 Health Care 2.2 Consumer Staples 1.9 Energy 1.2 Communication Services 1.1 Real Estate 0.9 Other 0.1 Net Current Assets 1.0 ----- Total 100.0 ===== Country Weightings % of Total AssetsUnited Kingdom 91.6United States 4.8Ireland 1.4Australia 0.8France 0.8Switzerland 0.5Canada 0.4Sweden -0.3 ----- Total 100.0 =====
Market Exposure (Quarterly) 31.05.23 31.08.23 30.11.23 29.02.24 % % % % Long 111.7 112.7 111.3 117.9 Short 3.6 4.5 3.8 3.2 Gross exposure 115.3 117.2 115.1 121.1 Net exposure 108.1 108.2 107.5 114.7
Ten Largest Investments Company % of Total Gross AssetsFTSE 250 Index Future 3.6 Breedon 3.2 Gamma Communications 3.1 4imprint Group 3.0 Oxford Instruments 2.9 WH Smith 2.9 Grafton Group 2.9 Rotork 2.5 Hill & Smith Holdings 2.5 YouGov 2.3
Commenting on the markets,
The Company returned 3.4% in March, outperforming its benchmark the Deutsche Numis Smaller Companies plus AIM (excluding Investment Companies) Index which returned 3.0%.
March was another strong month for risk assets broadly, with equity markets globally delivering solid returns across the board on back of positive macro data points and falling rates of inflation. Specifically, within the
The largest positive contributor to performance during March was
The largest detractor was veterinary services business,
CVS Group
. The shares fell in response to an announcement from the CMA (Competition and Markets Authority) that they would be progressing to a full Market Investigation into the veterinary market in the
March was a positive month, rounding out a positive first quarter in 2024. We remain pleased with the breadth of returns in the portfolio, with positive contributions across a broad range of holdings both in the month and year-to-date. We are also reassured that the returns are primarily driven by stock specifics rather than any one factor or macro bet. Though it remains a source of frustration for us, the continued underperformance of
We thank shareholders for your ongoing support.
1
Source: BlackRock as at
ENDS
Latest information is available by typing www.blackrock.com/uk/thrg on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on the Manager’s website (or any other website) is incorporated into, or forms part of, this announcement.
Release