HERALD INVESTMENT TRUST plc ANNUAL REPORT ...
HERALD INVESTMENT TRUST plc ANNUAL REPORT ...
HERALD INVESTMENT TRUST plc ANNUAL REPORT ...
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CLASSIFICATION OF <strong>INVESTMENT</strong>S<br />
Classification<br />
EQUITIES:<br />
(including convertibles and warrants)<br />
OIL & GAS<br />
Oil equipment services and distribution<br />
BASIC MATERIALS<br />
Chemicals<br />
INDUSTRIALS<br />
Aerospace and defence<br />
Electronic and electrical equipment<br />
Industrial engineering<br />
Support services<br />
CONSUMER GOODS<br />
Leisure goods<br />
HEALTH CARE<br />
Health care equipment and services<br />
CONSUMER SERVICES<br />
Media<br />
Travel and leisure<br />
TELECOMMUNICATIONS<br />
Fixed line telecommunications<br />
Mobile telecommunications<br />
FINANCIALS<br />
Financial services<br />
Equity investment instruments<br />
TECHNOLOGY<br />
Software and computer services<br />
Technology hardware and equipment<br />
UK<br />
%<br />
0.1<br />
0.1<br />
7.2<br />
0.2<br />
1.3<br />
–<br />
5.7<br />
0.2<br />
0.2<br />
0.3<br />
0.3<br />
9.0<br />
9.0<br />
–<br />
3.2<br />
3.0<br />
0.2<br />
0.4<br />
0.1<br />
0.3<br />
37.8<br />
27.6<br />
10.2<br />
Continental<br />
Europe<br />
%<br />
USA<br />
%<br />
Asia<br />
Pacific<br />
%<br />
Emerging<br />
Markets<br />
%<br />
2010<br />
Total<br />
%<br />
–<br />
–<br />
–<br />
–<br />
–<br />
–<br />
–<br />
–<br />
0.1<br />
0.1<br />
–<br />
–<br />
–<br />
–<br />
–<br />
–<br />
0.6<br />
0.6<br />
0.2<br />
–<br />
–<br />
–<br />
0.2<br />
–<br />
–<br />
–<br />
–<br />
–<br />
1.8<br />
–<br />
1.8<br />
–<br />
–<br />
–<br />
–<br />
0.6<br />
0.6<br />
–<br />
–<br />
–<br />
–<br />
–<br />
9.2<br />
0.2<br />
3.1<br />
–<br />
5.9<br />
– – – – 0.2<br />
– – – – 0.2<br />
– 0.2 – – 0.5<br />
– 0.2 – – 0.5<br />
0.2 – – – 9.2<br />
0.2 – – – 9.2<br />
– – – – –<br />
– 0.6 0.1 – 3.9<br />
– 0.6 – – 3.6<br />
– – 0.1 – 0.3<br />
–<br />
–<br />
–<br />
1.9<br />
1.5<br />
0.4<br />
–<br />
–<br />
–<br />
21.9<br />
10.2<br />
11.7<br />
–<br />
–<br />
–<br />
3.0<br />
0.6<br />
2.4<br />
–<br />
–<br />
–<br />
0.4<br />
0.4<br />
–<br />
0.4<br />
0.1<br />
0.3<br />
65.0<br />
40.3<br />
24.7<br />
2009<br />
Total<br />
%<br />
–<br />
–<br />
0.5<br />
0.5<br />
9.3<br />
0.4<br />
4.2<br />
0.1<br />
4.6<br />
0.2<br />
0.2<br />
0.5<br />
0.5<br />
10.3<br />
9.1<br />
1.2<br />
3.6<br />
2.9<br />
0.7<br />
0.5<br />
–<br />
0.5<br />
64.3<br />
38.7<br />
25.6<br />
TOTAL EQUITIES<br />
58.2 2.3 22.7 5.5 0.4 89.1<br />
(including convertibles and warrants)<br />
Total equities – 2009<br />
56.7 2.9 22.0 7.3 0.3 89.2<br />
(including convertibles and warrants)<br />
BONDS 3.8 – – – – 3.8 6.6<br />
NET LIQUID ASSETS 6.7 – – 0.4 – 7.1 4.2<br />
TOTAL ASSETS<br />
68.7 2.3 22.7 5.9 0.4 100.0<br />
(before deduction of bank loans and derivative<br />
financial instruments)<br />
Total assets – 2009 65.6 2.9 23.6 7.6 0.3 100.0<br />
BANK LOANS (9.4) – – – – (9.4) (12.6)<br />
DERIVATIVE FINANCIAL<br />
INSTRUMENTS (1.7) – – – – (1.7) (1.6)<br />
SHAREHOLDERS’ FUNDS<br />
Shareholders’ funds – 2009<br />
Number of equity investments<br />
(including convertibles and warrants)<br />
57.6<br />
51.4<br />
2.3<br />
2.9<br />
22.7<br />
23.6<br />
5.9<br />
7.6<br />
0.4<br />
0.3<br />
88.9<br />
85.8<br />
123 14 51 31 1 220 234<br />
GEOGRAPHICAL SPREAD OF <strong>INVESTMENT</strong>S<br />
31 December 2010 31 December 2009<br />
Emerging Markets 0.4%<br />
Asia Pacific 5.5%<br />
Net Liquid Assets 7.1%<br />
Emerging Markets 0.3%<br />
Asia Pacific 7.3%<br />
Net Liquid Assets 4.2%<br />
USA<br />
22.7%<br />
USA<br />
23.6%<br />
Continental<br />
Europe 2.3%<br />
UK 62.0%<br />
Continental<br />
Europe 2.9%<br />
UK 61.7%<br />
<strong>HERALD</strong> <strong>INVESTMENT</strong> <strong>TRUST</strong> <strong>plc</strong> 15
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