New Star Investment Trust : 06/21 fund manager’s AGM presentation

New Star Investment Trust

Prepared for the annual general meeting - November 2021

New Star Investment Trust - performance

	Year ended 30th	3 years ended	5 years ended
	June 2021 %	30th June 2021 %	30th June 2021 %
Net assets (£'000)	138,132
NSIT (NAV)	21.2	27.4	58.9
IA Mixed Investment 40-85% Shares	17.4	21.6	48.7
MSCI AC World	25.1	45.9	96.4
MSCI United Kingdom	17.5	1.3	28.0

Source: Maitland Institutional Services Limited, Thomson Reuters Lipper IM.

Index performance is total return. All performance data is quoted in sterling terms. NSIT performance is presented gross of dividend distributions. and performance fee Past performance should not be seen as an indication of future performance

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New Star Investment Trust - dividend history

New Star Investment Trust - dividend history

Pence per share

1.5		Dividends per share (GBp)

1.40 1.40 1.40

1.0

1.00

0.80

0.5

0.30

0.0
2015	2016	2017	2018	2019	2020	2021

NSIT financial year ending 30th June

Source: Maitland Institutional Services Limited

Past performance should not be seen as an indication of future performance

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New Star Investment Trust - 2021 performance

Positive

• UK smaller companies outperformed and gained 49.77% and benefited the performance of Aberforth Split Level Income Trust and Chelverton UK Equity Income
• Strong performance from some emerging market equity funds including Stewart Investors Indian Subcontinent Sustainability up 47.52% and Liontrust Asia Income up 28.60%
• Amongst private equity investments, the Embark share price was written up from 119p to 253p per share Negative
• Sterling rose 11.80% against the dollar
• Gold and gold equities fell and contributed to a 15.46% fall for BlackRock Gold and General
• Lindsell Train Japan fell 8.01% and underperformed a 10.71% gain in sterling for Japanese stocks as the manager's bias towards high-quality growth stocks was out of favour

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New Star Investment Trust - performance

Comparative performance at 30.09.2021

NSIT (NAV)

IA Mixed Investment 40-85% Shares

MSCI AC World

MSCI United Kingdom

S&P 500

MSCI Emerging Markets

Markit iBoxx Sterling Gilts Overall

SONIA

UK Consumer Price Index

Discrete period performance %
3 months	1 year
0.93	21.01
1.34	16.85
1.48	22.71
2.16	25.83
3.05	24.65
-5.71	13.70
-1.92	-7.08
0.01	0.05
0.99	3.08

Source: Maitland Institutional Services Limited, Refinitiv Lipper IM.

Index performance is total return. All performance data is quoted in sterling terms. NSIT performance is presented gross of dividend distributions Past performance should not be seen as an indication of future performance

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