NEW STAR INVESTMENT TRUST PLC 5. INVESTMENTS AT FAIR VALUE THROUGH PROFIT AND LOSS
At
At At
30th June
31st December 2020 31st December 2019
2020
GBP'000 GBP'000
GBP'000
GROUP AND COMPANY 111,261 101,518 103,015
ANALYSIS OF INVESTMENT
PORTFOLIO
Six months ended 31st December 2020
Total
Quoted* Unquoted**
(level 1 and 2) (level 3)
GBP'000
GBP'000 GBP'000
Opening book cost 67,731 8,448 76,179
Opening investment holding gains/(losses) 26,816 20 26,836
Opening valuation 94,547 8,468 103,015
Movement in period:
Purchase at cost 6,033 467 6,500
Sales
- Proceeds (8,931) - (8,931)
- Realised gains on sales 745 - 745
Movement in investment holding gains/(losses) 10,088 (156) 9,932
Closing valuation at 31 December 2020 102,482 8,779 111,261
Closing book cost 65,577 8,915 74,492
Closing investment holding gains/(losses) 36,905 (136) 36,769
Closing valuation 102,482 8,779 111,261 * Quoted investments include unit trust and OEIC funds which are valued at quoted prices. Included within Quoted Investments is one monthly valued investment fund of GBP4,103,000 (30th June 2020: GBP4,076,000) (2019: GBP3,721,000).
** The Unquoted investments, representing just over 7% of the Company's NAV, have been valued in accordance with IPEVC valuation guidelines. The largest Unquoted investment amounting to GBP6,990,000 (30th June 2020: GBP6,990,000) (2019: GBP3,990,000) was valued at the latest transaction price. The second largest investment has been valued based on cost and is in its development phase. A 10% increase or decrease in the earnings of the two largest investments would not have a material impact on the valuation of those investments. Neither investment has reached their maturity and are not valued on the basis of their current earnings.
There were no reclassifications for assets between Level 1, 2 and 3.
5. INVESTMENTS AT FAIR VALUE THROUGH PROFIT AND LOSS continued
Year
Six months ended Six months ended ended
31st December 2020 31st December 2019 30th June
GBP'000 GBP'000 2020
GBP'000
ANALYSIS OF CAPITAL GAINS AND LOSSES
Realised gains on sales of investments 745 8 (2,086)
Increase in investment holding gains/( losses) 9,932 5,014 1,874
10,677 5,022 (212) 6. RETAINED EARNINGS
At At
At
31st December 2020 30th June
31st December 2019
GBP'000 2020
GBP'000
GBP'000
Capital reserve - realised 5,395 6,769 5,686
Capital reserve - revaluation 36,770 29,959 26,836
Revenue reserve 1,457 1,640 2,172
43,662 38,368 34,694 7. NET ASSET VALUE PER ORDINARY SHARE
31st December 2020 30th June
31st December 2019
GBP'000 2020
GBP'000
GBP'000
Net assets attributable to Ordinary shareholders
122,813 117,559 113,885
Ordinary shares in issue at end of period
71,023,695 71,023,695 71,023,695
Net asset value per Ordinary share 172.92p 165.52p 160.35p 8. TRANSACTIONS WITH THE INVESTMENT MANAGER
During the period there have been no new related party transactions that have affected the financial position or performance of the Group.
Since 1st January 2010 Brompton has acted as Investment Manager to the Company. This relationship is governed by an agreement dated 17 May 2018.
Mr Duffield is the senior partner of Brompton Asset Management Group LLP the ultimate parent of Brompton. Mr Duffield owns a majority (59.14%) of the shares in the Company.
Mr Gamble has an immaterial holding in Brompton Asset Management Group Limited LLP.
The total investment management fee payable to Brompton for the half year ended 31st December 2020 was GBP370,000 (30th June 2020: GBP697,000) (2019: GBP364,000) and at the half year GBP190,000 (30th June 2020: GBP177,000) (2019: GBP177,000) was accrued. No performance fee was payable in respect of the six months ended 31st December 2020 (30th June 2020: GBP623,000) (2019: GBP623,000). The existing performance fee arrangements ceased with effect from 1 January 2020.
The Group's investments include seven funds managed by Brompton or its associates valued at GBP21,998,000 (30th June 2020: GBP19,712,000) (2019: GBP19,680,000). No investment management fees were payable directly by the Company in respect of these investments. -----------------------------------------------------------------------------------------------------------------------
ISIN: GB0002631041
Category Code: IR
TIDM: NSI
OAM Categories: 1.2. Half yearly financial reports and audit reports/limited reviews
3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 95947
EQS News ID: 1177081
End of Announcement EQS News Service
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(END) Dow Jones Newswires
March 22, 2021 03:01 ET (07:01 GMT)
