Page 1 of 2 | Morningstar Factsheets | All data as at 02 Dec 2014 unless stated otherwise The North American Income Trust plc Morningstar Peer Group Classification North America NAIT Total Return Performance (GBP) over 5 years (or since inception) Investment Objective To provide investors with above average dividend income and long-term capital growth through investing predominantly in S&P 500 constituents. Valuation statistics (NAVs estimated1) GBX 02 Dec 2014 Price 875.50 Fair Cum NAV 948.97 Fair Ex NAV 935.06 Par Cum NAV 951.91 Par Ex NAV 936.81 Fair Cum Discount -7.69 Fair Ex Discount -6.32 Par Cum Discount -7.97 Par Ex Discount -6.54 Peer Group Discount -1.27 -1.28 Z-Statistic2 12 m High 882.00 Low 765.50 943.30 785.56 +5.14 -7.56 Last Actual NAVs (GBX) as at 01 Dec 2014 Fair Cum NAV 939.30 Fair Ex NAV 925.39 Par Cum NAV 942.21 Par Ex NAV 928.30 Key Data Domicile Launch Date Financial Year-end Exchange Next AGM NAV Frequency Dividend Frequency Total Assets (GBP) Net Assets (GBP) Shares Outstanding Gross Gearing3 Net Gearing4 Average Daily Shares Traded (1yr) Average Daily Value Traded (1yr) Total Expense Ratio5 (2014) Market Capitalisation (GBP) Net Dividend Yield6 UK 05 Jun 1997 31 Jan London (LSE) May 2015 Daily Quarterly 349.7m 309.2m 33,007,082 113 109 0.025m 0.333m 1.04% 289.0m 3.20% Performance (Total Return %)8 GBP 1 month 3 months Price +1.98 +4.98 NAV +3.81 +6.56 Peer Group (Price) +4.06 +7.15 Peer Group (NAV) +3.80 +6.59 Benchmark +4.92 +9.40 6 months +8.54 +12.36 +12.47 +12.80 +16.10 1 year +5.96 +18.39 +15.45 +19.01 +22.46 YTD +6.58 +17.59 +15.15 +17.64 +20.56 3 years +51.89 +52.34 +61.16 +59.45 +76.83 5 years +86.04 +87.88 +106.04 +96.43 +120.23 Peer Group: Morningstar IT North America P Morningstar Benchmark: S&P 500 Composite Fund distributions reinvested on ex-dividend date8 Dividend Yields over 5 years (or since inception) Dividend Policy The fund intends to pay quarterly dividends Year-on-Year Dividend Growth % (financial year 31 Jan) 2015 3.70 2014 38.46 2013 107.45 2012 2.73 2011 -8.50 Distributions (GBP) over 5 years (or since inception) Dividend Growth % (annualised on current financial year)7 1 year 3.70 2 years 19.83 3 years 43.88 4 years 32.26 5 years 22.87 Directors James G D Ferguson (Chairman), Guy Crawford, Archie Hunter Fund Manager: Paul Atkinson (29 May 2012) Aberdeen Asset Management 40 Princes Street, Edinburgh, UK, EH2 2BY Telephone: +44 (0)131 528 4000 Website: http://www.northamericanincome.co.uk Stockbroker: Winterflood Securities Limited Management Fee Summary Management fee 0.80% p.a. of Gross Assets. Contract terminable on 3 months notice. Latest Dividend History (GBp) Type Income Income Income Income Income Income Income Income Income Dividend Declared Date 6.000 12 Sep 14 19 Jun 14 6.000 14 Mar 14 10.000 16 Jan 14 6.000 18 Sep 13 5.500 27 Jun 13 5.500 22 Mar 13 13.000 18 Sep 12 6.500 30 Mar 12 5.200 Ex Div Date 01 Oct 14 02 Jul 14 07 May 14 22 Jan 14 02 Oct 13 03 Jul 13 24 Apr 13 26 Sep 12 02 May 12 Record Date 03 Oct 14 04 Jul 14 09 May 14 24 Jan 14 04 Oct 13 05 Jul 13 26 Apr 13 28 Sep 12 04 May 12 Payment Date 31 Oct 14 01 Aug 14 03 Jun 14 14 Feb 14 01 Nov 13 02 Aug 13 24 May 13 26 Oct 12 01 Jun 12 Initial Public Offering on 21 Oct 1952 The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these factbook pages. Financial Year 2015 2015 2014 2014 2014 2014 2013 2013 2012 Page 2 of 2 | Morningstar Factsheets | All data as at 02 Dec 2014 unless stated otherwise The North American Income Trust plc NAIT Risk & Return9 Discrete Monthly Price & NAV Total Return % (GBP) Sector Breakdown (%) Discrete Yearly Price & NAV Total Return % (GBP) Geographic Breakdown (%) Risk & Correlation Alpha (NAV) 11 Beta (NAV)12 R-squared (NAV)13 Sharpe (NAV)14 Price Volatility15 NAV Volatility15 Benchmark Volatility15 Peer Group Price Volatility15 Peer Group NAV Volatility15 3 months -0.02 0.82 0.91 2.16 14 13 12 15 15 6 months 0.78 0.81 2.22 13 10 10 12 12 1 year 0.23 0.52 0.41 1.85 12 10 11 11 11 3 years -0.18 0.85 0.76 1.46 12 11 12 11 11 5 years -0.17 0.94 0.90 1.12 14 15 16 14 15 Additional Performance (Total Return%8) GBX Largest Holdings (% Portfolio10) as at 31 Oct 2014 Microsoft Corporation Philip Morris International, Inc. Verizon Communications Inc Wisconsin Energy Corporation Chevron Corp Freeport-McMoRan Copper & Gold Target Corp Republic Services, Inc. TransCanada Conocophillips Total Capital Structure Number of Shares 33,007,082 Loan CCY USD GBP USD 4.1% 4.0% 3.6% 3.3% 3.1% 3.0% 3.0% 2.9% 2.9% 2.9% 32.9% Share Type Ord 25p £m 32.7 1.5 6.4 Redemption Period 2014 2013 2012 2011 2010 2009 Since FTSE 2009 Low (13 Mar 09) Since Sub-Prime (20 Nov 07) Since FTSE 2007 Peak (13 Oct 07) Price +6.58 +28.15 +7.92 +1.02 +20.45 +9.63 +137.70 +85.24 +66.89 NAV Peer Price +17.59 +15.15 +19.73 +26.14 +6.42 +7.61 +2.52 +4.11 +17.89 +21.21 +12.20 +11.89 +156.90 +166.41 +87.05 +117.19 +69.98 +96.64 Peer NAV Benchmark +17.64 +20.56 +25.08 +29.93 +7.16 +10.91 +1.93 +2.87 +17.86 +18.68 +11.88 +12.60 +174.81 +200.94 +102.49 +120.86 +85.65 +101.08 Wind-up Provisions/Buy Back Policy Shareholders are given the opportunity to vote on the continuation of the company every 3 years at the AGM in that year. The Company has the authority to allot shares up to 33.33% of the nominal value of the existing issued share capital of the company (10% non pre-emptively) and the authority to purchase up to 14.99% of the issued share capital. This authority will be renewed at every AGM. The fund will aim to establish a long-term level of the discount to the NAV of no greater than 5%. Coupon 2.180% 1.403% 1.056% Net Dividend Yield – This is calculated by dividing the current financial years dividends (this will include prospective dividends) by the current price. Dividend Growth – The annualised percentage growth in dividends. Based upon the current financial year, including any future estimates or forecasts. Performance – Calculated using start and end period Share Prices or NAV Dividends are reinvested on the ex-dividend date at the prevailing Share Price or NAV. Risk & Return – 1 Year ex income par NAV total return performance against 1 Year NAV volatility. Please see notes 8 and 15 for performance and volatility definitions respectively. 2 10 Portfolio – In order to calculate the portfolio value we deduct any holdings in cash only (Note that Fixed Interest is not included). 11 Alpha – The difference between the fund’s average excess total return and the benchmark’s average excess total return. 3 12 Beta – The sensitivity of the fund to broad market movements. A Beta of 0.5 would imply the fund will move by half as much as the index. 4 13 R-squared – A measure of correlation between the fund and index. A value of 0.8 means that 80% of the fund’s NAV changes can be explained by changes in the index. 14 Sharpe – A risk-adjusted return measure, calculated by dividing the fund’s average monthly excess total return over the risk-free rate by the standard deviation of those returns. 5 The figure shown is the annualized Sharpe Ratio. 15 Volatility – The annualized standard deviation of the logged daily returns, adjusting for distributions from capital. The factbook pages are compiled by Morningstar and have no regard to the particular needs of any specific recipient. All price information is indicative only. Nothing herein is to be construed as a solicitation or an offer to buy or sell any financial products. The factbook pages are prepared by Morningstar and based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, nor are they a complete statement of these securities. Morningstar accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of these factbook pages. 1 NAV Estimation - Fair value of debt refers to the market price of the debt if it is traded or, if it is not traded, an estimation of its value calculated using points over gilt methodology. Cum Income NAVs include net revenue in the financial year to date. All estimates are fully diluted for the effects of warrants, convertibles or treasury shares. NAV estimations are created and maintained by Morningstar. For more detailed methodology document please contact [email protected] Z-Statistic 1y – Shows whether the fund’s current discount is significantly higher or lower than the average over the past year, calculated as (Current Discount – Mean) / Std Dev Gross Gearing – The ratio of estimated gross Assets to the Net Assets, expressed as a percentage Net Gearing – The ratio of estimated Gross Assets minus cash and fixed interest to the Net Assets, expressed as a percentage. Cash and fixed interest represents not-equity exposure. Total Expense Ratio – (Total Expenses – Performance Fees – Cost of Leverage – Tax – Restructuring Costs) / Average Net Assets 6 7 8 9
© Copyright 2024