AI Terminal
Temple Bar Investment Trust PLC
Fund Information / Factsheet • Nov 15, 2023
5205_rns_2023-11-15_1af7bcab-2a33-434c-b4ca-57e600bbf4be.pdf
Fund Information / Factsheet
Open in ViewerOpens in native device viewer
Trust objective
To provide growth in income and capital to achieve a long-term total return greater than the benchmark FTSE All-Share Index, through investment primarily in UK–listed securities. The Company's policy is to invest in a broad spread of securities with typically the majority of the portfolio selected from the constituents of the FTSE 350 Index.
Trust facts
Launch date 1926 ISIN GB00BMV92D64 Sedol BMV92D6 Ticker TMPL Dividends paid Quarterly in March, June, September and December Benchmark FTSE All-Share Association of Investment Companies (AIC) sector UK Equity Income ISA status May be held in an ISA& Junior ISA Capital Structure Ordinary Shares in issue: 292,250,952 in circulation 42,112,873 in treasury
Exposure analysis*
0.0%
Information Technology
United Kingdom
- Netherlands
- United States
- Germany
- Cash & equivalents
* Exposures expressed as a % of the gross assets (investments plus cash) of the Company.
| 4.05% Private Placement Loan 2028 £50m |
|---|
| 2.99% Private Placement Loan 2047 £25m |
| Year end |
| 31 December |
| Ongoing charge |
| 0.54%, effective 31 December 2022 |
| Includes a management fee of 0.325%. |
| Excludes borrowing and portfolio transaction costs. |
| AIFM, Administrator & Company Secretary |
| Frostrow Capital LLP with effect from 1 July 2023 |
| Portfolio Manager |
| RWC Asset Management LLP with effect from 30 October |
| 2020 |
| Portfolio Management Team |
| Ian Lance and Nick Purves |
| Registrar |
| Equiniti Financial Services Limited |
| Depositary & Custodian |
| Bank of New York Mellon |
Top 10 equity holdings (%)
| Shell | 7.9 |
|---|---|
| Marks & Spencer | 7.6 |
| BP | 7.3 |
| TotalEnergies | 5.9 |
| Centrica | 5.4 |
| ITV | 4.6 |
| Aviva | 4.3 |
| Anglo American | 4.3 |
| Pearson | 4.1 |
| NatWest | 4.0 |
| Total | 55.4 |
| Financial data | |
| Gross Assets | £754.7m |
| Share price (p) | 223.50 |
| NAV (p) (cum income, debt at mkt)* | 238.26 |
| Premium/(Discount), Cum income* | -6.2% |
| Historic net yield | 4.3% |
| Net gearing* | 8.4% |
| *Calculated with debt at fair value |
Dividend history
| Type | Amount (p) | XD date | Pay date |
|---|---|---|---|
| 3rd interim – 2023 | 2.50 | 30.11.23 | 29.12.23 |
| 2nd interim – 2023 | 2.30 | 24.08.23 | 29.09.23 |
| 1st interim – 2023 | 2.30 | 01.06.23 | 30.06.23 |
| 4th Interim – 2022 | 2.50 | 02.03.23 | 31.03.23 |
Performance (total return)
Past performance is not a guide to future performance. The value of investments and the income from them may fall as well as rise and is not guaranteed; an investor may receive back less than the original amount invested. This Trust may not be appropriate for investors who plan to withdraw their money within the short to medium term.
Cumulative returns (%)
| Share price |
NAV | FTSE All Share |
|
|---|---|---|---|
| 1 month | -5.3 | -4.9 | -4.1 |
| 3 months | -4.1 | -3.9 | -4.8 |
| 1 year | 10.5 | 11.1 | 5.9 |
| 3 year | 78.8 | 74.6 | 39.4 |
| 5 year | 14.3 | 11.7 | 21.1 |
| 10 year | 34.5 | 42.6 | 58.0 |
| Since 30/10/2020 | 78.8 | 74.6 | 39.4 |
Rolling 12 month returns (%)
| Share price |
NAV | FTSE All Share |
|
|---|---|---|---|
| 31.10.22 - 31.10.23 | 10.5 | 11.1 | 5.9 |
| 31.10.21 - 31.10.22 | 0.5 | -0.6 | -2.8 |
| 31.10.20 - 31.10.21 | 61.0 | 58.1 | 35.4 |
| 31.10.19 - 31.10.20 | -43.6 | -40.9 | -18.6 |
| 31.10.18 - 31.10.19 | 13.4 | 8.2 | 6.8 |
Performance, price and yield information is sourced from Morningstar as at 31.10.23.
Temple Bar Investment Trust Plc Risk Warnings
This document is for information purposes only and does not constitute an offer or invitation to purchase shares in the Company and has not been prepared in connection with any such offer or invitation. Before investing in the Company, or any other investment product, you should satisfy yourself as to its suitability and the risks involved, and you may wish to consult afinancial adviser.
Any return you receive depends on future market performance and is uncertain. The Company does not seek any protection from future market performance so you could lose some or all of your investment. For information on the principal risks the Company is exposed to please refer to the Company's Annual Report, Key Information Document or Investor Disclosure Document, available at https://www.templebarinvestments.co.uk/documents/.
Company share price risk
Shares in the Company are bought and sold on the London Stock Exchange. The price you pay or receive, like other listed shares, is determined by supply and demand and may be at a discount or premium to the underlying net asset value of the Company. Usually, at any given time, the price you pay for a share will be higher than the price you could sell it.
Borrowing/leverage risk
The Company has increased its exposure to investments via borrowings and this could potentially magnify any losses or gains made by the Company.
The Company's gearing and discount management policies can be found at https://www.templebarinvestments.co.uk/ investment-approach/investment-policies/
Interest rate risk
The value of fixed income assets & liabilities (e.g. bonds) tends to decrease when interest rates and/or inflation rises, and increase when interest rates and/or inflation falls.
Concentration risk
The fund may be concentrated in a limited number of geographical regions, industry sectors, markets and/or individual positions. This may result in large changes in the value of the fund, both up or down, which may adversely impact the performance of the fund.
Target Market
The Company is suitable for investors seeking an investment that aims to deliver total returns over the longer term (at least five years), is compatible with the needs for retail clients, professional clients and eligible counterparties, and is eligible for all distribution channels.
The Company may not be suitable for investors who are concerned about short-term volatility and performance, have low or no risk tolerance or are looking for capital protection, who are seeking a guaranteed or regular income, or a predictable return profile. The Company does not offer capital protection.
Value Assessment
Frostrow Capital LLP has conducted an annual Value Assessment on the Company in line with Financial Conduct Authority (FCA) rules set out in the Consumer Duty regulation. The Assessment focuses on the nature of the product, including benefits received and its quality, limitations that are part of the product, expected total costs to clients and target market considerations.
Within this, the assessment considers quality of services, performance of the Company (against both benchmark and peers), total fees (including management fees and entry and exit fees as applicable to the Company), and also considers whether vulnerable consumers are able to receive fair value from the product.
Frostrow Capital LLP concluded that the Company is providing value based on the above assessment.
Important Information
This financial promotion is issued by Frostrow Capital LLP which is authorised and regulated by the Financial Conduct Authority ("FCA").
All rights in any referenced index are vested in the index owner and/or its licensors, who do not accept any liability for any errors or omissions in the index or any underlying data.
How to Contact Us
Frostrow Capital LLP Website: www.frostrow.com 25 Southampton Buildings Email: [email protected] London, WC2A 1AL Tel.: 0203 008 4910
