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 7.6 11.3 16.4 -16.0 33.0 Share price 8.5 10.7 11.6 -24.2 30.7 Benchmark* 6.4 11.8 12.5 -11.7 20.8
Sources: BlackRock and Deutsche Numis
*With effect from
At month end Net asset value capital only: 693.81p Net asset value incl. income: 703.55p Share price 639.00p Discount to cum income NAV 9.2% Net yield1: 2.3% Total Gross assets2: £644.5m Net market exposure as a % of net asset value3: 112.6% Ordinary shares in issue4: 91,606,927 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 11,602,937 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 35.5 Consumer Discretionary 18.6 Financials 16.9 Basic Materials 6.8 Technology 6.3 Telecommunications 3.7 Health Care 1.9 Consumer Staples 1.9 Real Estate 1.6 Energy 1.1 Communication Services 0.7 Other 0.1 Net Current Assets 4.9 ----- Total 100.0 ===== Country Weightings % of Total AssetsUnited Kingdom 91.1United States 4.3Ireland 1.8Australia 0.8France 0.8Canada 0.6Switzerland 0.5Netherlands 0.4Sweden -0.3 ----- Total 100.0 =====
Market Exposure (Quarterly) 31.08.23 30.11.23 29.02.24 31.05.24 % % % % Long 112.7 111.3 117.9 114.9 Short 4.5 3.8 3.2 2.3 Gross exposure 117.2 115.1 121.1 117.2 Net exposure 108.2 107.5 114.7 112.6
Ten Largest Investments Company % of Total Gross Assets Oxford Instruments 3.1 Breedon 3.0 Gamma Communications 2.9 Grafton Group 2.7 IntegraFin 2.6 Hill & Smith Holdings 2.5 Rotork 2.5 WH Smith 2.4 Tatton Asset Management 2.3 4imprint Group 2.3
Commenting on the markets,
The Company returned 7.6% in May, outperforming its benchmark the Deutsche Numis Smaller Companies + AIM (excluding Investment Companies) Index, which returned 6.4%. 1
Despite a bout of volatility in the last few days of May, it was a strong month for risk assets broadly, with most developed markets delivering a positive return. As for the macro, May did see some softer global growth data points while US and
The largest contributor during the month was from Zotefoams, which rallied sharply in response to a positive trading statement. The company reported positive growth across a number of its High-Performance Products (HPP) including footwear, aviation and insultation products, while also updating investors on its ReZorce mono-material barrier packaging product, which is currently entering late-stage quality and technical validation in preparation for market trials with a European retailer. IntegraFin, the operator of the Transact investment platform, reported a 13% year-on-year increase in funds under direction, which rose to £61bn as at the end of
Elevated levels of M&A activity remained an ongoing feature in the
Overall, a lot to contend with in May. Indeed, there are many stocks worth talking to clients about this month, both good and bad. As discussed earlier, we think the outlook for the
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.
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