Annual report: Period Ended 31 December 2012 - Invesco Perpetual

City Merchants High Yield Trust Limited 9
Currency Exposure of Portfolio and Cash, including and excluding Currency
Hedging
at 31 December
2012 2011
Including Currency Hedging Excluding Including Currency Hedging Excluding
Sterling Other Total Hedging Sterling Other Total Hedging
% % % % % % % %
Fixed Interest
Loans & Debenture
Stocks 40.4 38.4 78.8 78.8 34.2 41.6 75.8 76.5
Convertibles — 6.7 6.7 6.7 0.1 5.8 5.9 6.0
Preference Stock 1.6 — 1.6 1.6 2.6 0.5 3.1 3.1
Total Fixed Interest 42.0 45.1 87.1 87.1 36.9 47.9 84.8 85.6
Convertible Preference 5.0 — 5.0 5.0 5.6 — 5.6 5.6
Equities 0.2 3.6 3.8 3.8 0.2 3.1 3.3 3.3
Portfolio Total 47.2 48.7 95.9 95.9 42.7 51.0 93.7 94.5
Cash 2.9 1.2 4.1 4.1 4.0 1.3 5.3 5.5
Portfolio and Cash Total 50.1 49.9 100.0 100.0 46.7 52.3 99.0 100.0
Currency Hedging
Forward currency sales 29.4 (29.4) — 34.9 (33.9) 1.0
Net Currency Exposure 79.5 20.5 100.0 81.6 18.4 100.0
Bond Rating Analysis
(Standard and Poor’s Ratings)
For the definitions of these ratings see the Glossary on page 18.
2012 2011
% of Cumulative % of Cumulative
Rating Portfolio Total % Portfolio Total %
Investment Grade:
A — — 0.5 0.5
A– 3.0 3.0 4.4 4.9
BBB+ 3.9 6.9 10.7 15.6
BBB 7.7 14.6 6.9 22.5
BBB– 9.3 23.9 5.2 27.7
Non-investment Grade:
BB+ 5.7 29.6 4.0 31.7
BB 12.7 42.3 13.9 45.6
BB– 10.5 52.8 8.8 54.4
B+ 11.4 64.2 7.7 62.1
B 4.0 68.2 7.3 69.4
B– 3.3 71.5 2.8 72.2
CCC+ 1.5 73.0 0.3 72.5
CCC 0.8 73.8 0.7 73.2
C — 73.8 0.1 73.3
D — 73.8 0.1 73.4
NR (including equity) 26.2 100.0 26.6 100.0
100.0 100.0