Valor (es) del activo neto
Reparto/Emisión
€7.51
16:30 24/04/24
Athelney confianza plc
Identificador de entidad legal:
213800ON67TJC7F4DL05
El valor liquidativo no auditado de Athelney Trust era de 204.7 peniques a 31 de enero de 2024.
Comentario del gestor del fondo de enero de 2024
The US consumer continues to drive the US Economy, with consumer spending growing at an annualised rate of 2.8% during the last quarter of 2023, after increasing by 3.1% in the previous quarter. The net result was that the US economy grew at an annualised rate of a 3.3% during the final quarter of last year. Separately, in spite of consumer prices rising at an annual rate of 1.7% in the fourth quarter, down from 2.6% three months earlier and with inflation heading towards its 2% target, the Federal Reserve held the benchmark federal funds rate at a 23 year high of between 5.25% and 5.5%. A similar approach was adopted by the European Central Bank which indicated it would hold Eurozone rates steady at a record high of 4% but it did note that inflation was declining as expected.
En el Reino Unido, headline inflation is now at 4%, compared with its 2022 peak of more than 11%. The January Purchasing Managers Indices (PMIs) showed some improvement, with the composite improving to 52.5 and, according to mortgage provider Nationwide, UK house prices rose more than expected, increasing by 0.7% between December and January. A positive view shared by the Bank of England which upgraded its growth forecast for 2024 to +0.25% from zero. Nevertheless, the BOE held interest rates steady at 5.25%.
Globally the stock markets continued their positive performance for the third month in a row as they responded positively to the improved inflationary and interest rate outlook for the world economy with the tech heavy NASDAQ up by 1.02%. The S&P500 also benefited from the positive sentiment in the equity markets, reporting an 1.59% improvement over the month as did the MSCI which was up by 1.14%. However, after an excellent performance in December, investors in the UK were not as optimistic with the major indices softening over the month. The FTSE250 declined by 1.68% while the FTSE100 was down by 1.33%. The smaller end of the market was mixed with the Small Cap Index down by 2.0%, the AIM All-Share Index down by 1.12% and the Fledgling Index also down but by only 0.51%.
The Athelney portfolio performed similarly to the major UK index, declining by 1.68% during the month. After allowing for expenses, including a substantial increase in audit and related fees, the NAV reflected a decline of 2.1%.
UK small to mid-cap stocks remain under-valued in a global context and we expect further mergers and take overs during the year, similar to the recent bid to take over Smart Metering. Our cash holding at month end declined slightly to 2.9% of the portfolio.
Hoja informativa
En el sitio web del Fondo www.athelneytrust.co.uk, en "Acerca de", seleccione "Última hoja informativa mensual" en el sitio web del Fondo, que incluye la información anterior, así como detalles más amplios.
Información de fondo
Dr. Emmanuel (Manny) Pohl AM
Manny es presidente y director de inversiones de EC Pohl & Co ("ECP"), una empresa de gestión de inversiones y ha sido un importante accionista de Athelney Trust durante muchos años.
EC Pohl & co tiene licencia de los servicios financieros australianos (licencia número 421704).
www.ecpohl.com
www.ecpam.com
Manny Pohl y el grupo ECP gestionan 2.7 millones de dólares australianos (1.5 millones de libras esterlinas), incluidas cuatro sociedades de inversión cotizadas, tres cotizadas en Australia y una en el Reino Unido:
· Inversiones emblemáticas (código ASX: FSI)
95 millones de AUD https://flagshipinvestments.com.au
· Barrack St Investments (código ASX: BST)
37 millones de dólares australianos www.barrackst.com
· Global Masters Fund Limited (código ASX: GFL)
33 millones de dólares australianos www.globalmastersfund.com.au
· Athelney Trust plc (código LSE: ATY)
6 millones de libras esterlinas www.athelneytrust.co.uk
Política de inversión de Athelney Trust plc
El objetivo de inversión del Fideicomiso es brindar a los accionistas perspectivas de crecimiento del capital a largo plazo con los riesgos inherentes a la inversión de pequeña capitalización minimizados mediante una distribución de participaciones en empresas de pequeña capitalización de calidad que operan en diversas industrias y sectores. El Gestor del Fondo también considera que es importante mantener un historial de dividendos progresivo.
Los activos del Fideicomiso se asignan principalmente a empresas con una cotización completa en la Bolsa de Valores de Londres o un mecanismo de negociación en AIM o ISDX. Los activos del Fideicomiso se han distribuido de dos formas principales: en primer lugar, a las acciones de aquellas empresas que han crecido de forma sostenida a lo largo de los años en términos de beneficios y dividendos pero, a pesar de este avance, la calificación de mercado es favorable en comparación con los beneficios futuros. y dividendos; en segundo lugar, a aquellas empresas cuyas acciones se encuentran en un nivel favorable en comparación con el valor de los terrenos, edificios o efectivo en el balance.
Athelney Trust was founded in 1994. In 1996 it was one of the ten pioneer members of the Alternative Investment Market ("AIM"). In 2008 the shares became fully listed on the main market of the London Stock Exchange. Athelney Trust has a successful progressive dividend growth record and the dividend has grown every year since 2004. According to the Association of Investment Companies (AIC) Athelney Trust is a "Dividend Hero" being one of only a few investment companies that have increased their dividend every year for 20 years or more. See link
https://www.theaic.co.uk/income-finder/dividend-heroes
Página web
www.athelneytrust.co.uk
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