28th Oct 2013 16:58
LONDON (Alliance News) - The City Of London Investment Trust PLC Monday said its portfolio remained "biased" towards non-cynical and global companies, as it purchased a new holding in Germany's Siemens AG.
In an interim management statement for the period between July 1 and September 30, the company said it increased its holdings in British Sky Broadcasting Group PLC and Marks and Spencer PLC, while holding in energy giants Centrica PLC and SSE PLC were reduced.
The company said it's biggest investment was in Vodafone Group PLC, replacing HSBC Holdings PLC. This was followed by British American Tobacco PLC and GlaxoSmithKline PLC.
It had total net assets of GBP943.6 million, compared with GBP886.4 million at the end of June and a net asset value per share of 356.94 pence up from 343.58 pence.
During the period, gearing declined to 6.9% from 7.9% while it issued 5.3 million shares for total proceeds of GBP23.2 million.
Last month, the board declared a first interim dividend of 3.63 pence per share in respect of the year ending June 30 2014 to be paid in November 2013 to shareholders on the register on October 25 2013.
The stock closed at 372.40 pence Monday, up 4.10 pence or 1.1%.
By Anthony Tshibangu; [email protected];
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