Finsbury Int. Hedge - Interim Results
1999年6月10日 - 9:15PM
RNSを含む英国規制内ニュース (英語)
RNS No 6073f
FINSBURY INTERNATIONAL HEDGE INVESTMENT COMPANY LIMITED
10 June 1999
Chairmans' Statement for the half year ended 30 April 1999
I am pleased to report on the progress of your Company for the six months ended
30 April 1999.
The Company produced a total return of 14.5% over the half-year period with the
Net Asset Value (NAV) per share rising from US$11.31 to US$12.92.
The strong performance of the Company's investments has not been reflected in
the share price. The Board is conscious of the discount to NAV which has
emerged. Achieving a reduction in the level of the discount remains an objective
for the Board and the Manager.
The Company continues to provide a relatively low risk exposure to world
markets. The volatility of the NAV since the inception of the Company has been
approximately half that of the Company's benchmark, the MSCI World Index.
I have previously advised shareholders that the Company provides very little
investment income and accordingly no interim dividend is proposed.
Michael Sheehan, Chairman
10 June 1999
Balance Sheet
as at 30 April 1999
1999 1998
US$'000 US$'000
Fixed Assets
Investments at market value 66,669 67,180
Current Assets
Debtors 61 130
Cash at Bank 5,292 2,934
5,353 3,064
Creditors
Amounts falling due within one year (436) (225)
Net current assets 4,917 2,839
Net Assets 71,586 70,019
Capital and reserves
Called up share capital 55 55
Share premium 53,268 53,268
Other reserves:
Capital reserve - realised 3,478 604
Capital reserve - unrealised 15,813 16,548
Revenue reserve (1,028) (456)
71,586 70,019
Net asset value per ordinary share US$12.92 US$12.64
Consolidated Statement of Total Return
(incorporating the revenue account for the half year ended 30 April 1999)
Revenue Capital Total Revenue Capital Total
1999 1999 1999 1998 1998 1998
#'000 #'000 #'000 #'000 #'000 #'000
Gains on investment - 9,324 9,324 - 7,229 7,229
Income 250 - 250 168 - 168
Investment management
fee (348) (151) (499) (332) 824 492
Other expenses (155) - (155) (139) - (139)
Net return before
finance costs (253) 9,173 8,920 (303) 8,053 7,750
Interest payable
and similar charges - - - - - -
Return on ordinary
activities after
finance costs (253) 9,173 8,920 (303) 8,053 7,750
Dividends in respect
of finance costs - - - - - -
Transfer to reserves (253) 9,173 8,920 (303) 8,053 7,750
Return per ordinary
share US$(0.05) US$1.66 US$1.61 US$(0.05) US$1.45 US$1.40
These accounts are not statutory accounts. Statutory accounts for the period
ended 31 October 1998 have been delivered to the Guernsey Financial Services
Commission and received an audit report which was unqualified.
Rea Brothers (Guernsey) Fund Managers Limited
Secretary
END
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