Witan Investment Trust PLC — Fund Information / Factsheet 2013

Jun 14, 2013

Factsheet

Investment Objective

The objective of Witan Investment Trust plc is to be the preferred choice for wealth creation, delivering long-term capital growth and a growing real income to shareholders through investment in global equity markets.

Witan's portfolio is managed with a multi-manager structure. The latest manager allocations as at 31.03.2013 can be found on our website at www.witan.com/portfolio-and-performance

Trust Information

Epic Code	WTAN
Sector	Global Growth
Trust Type	Conventional
Launch Date	1909
Financial Year End	31 December
Dividend Payment Dates	Mar, Jun, Sep, Dec
Last Ex Div Date	22 May 2013
AGM	May
Shares in Issue	189,410,000

Geographic Breakdown (%)†

Sector Allocation (%)†

Financials	24.8
Consumer services	13.8
Consumer Goods	13.5
Industrials	13.2
Health Care	6.9
Oil & Gas	6.0
Technology	5.8
Telecommunications	3.4
Other	4.4
Open Ended Funds	5.3
Equity Index Futures	2.4
Cash / Bonds	0.5
Source: BNP Paribas as at 31.05.13. †

Trust Statistics†

Gross Assets	£1,446m
NAV per ordinary share	670.30p
Share price	617.50p
Premium/(Discount)	(7.9%)
Gearing	11%
Yield	2.14%
Ongoing Charges* inc. Performance Fee	0.97%
Ongoing Charges* ex. Performance Fee	0.69%
†

Source: BNP Paribas as at 31.05.13. *Ongoing charges as at 31.12.12.

Monthly Commentary

Global stock markets rose strongly at the start of May before a correction began, which saw much of the gain given back. The Japanese stock market corrected following very strong gains earlier in the year. Overall the Witan benchmark rose 2.3% over the month of May and has increased 31% over the past twelve months.

The market rise over recent months had been led by the US and Japan. The US has been strong due to signs of economic recovery, particularly in the housing market. Japan has been boosted by actions by new Prime Minister Abe and the Bank of Japan to boost the money supply in order to end deflation, weaken the yen and boost economic growth. The correction in Japan, which was accompanied by bond market volatility was a sign that the market had run ahead of events, which are nonetheless beginning to suggest underlying economic improvement.

Over the month of May, both the Witan NAV and share price total returns were +4%, an outperformance of 1.7% compared to the benchmark. Over the past twelve months, the trust has performed well, with an NAV total return of 39%, an outperformance of 8%.

Following the introduction of quarterly dividends the Trust will pay a dividend of 3.3p to shareholders on the 18th June 2013 (ex-dividend 22nd May 2013).

You can watch video and read regular comment on investment issues from the Witan Investment Trust CEO, Andrew Bell on our website. www.witan.co.uk

Ten Largest Holdings† **

Diageo	2.2%
London Stock Exchange	1.6%
Electra Private Equity	1.6%
Unilever	1.5%
Schroders	1.5%
BP	1.4%
Reed Elsevier	1.3%
Princess Private Equity	1.3%
Aberforth Geared Income	1.2%
Sage	1.1%

† Source: BNP Paribas as at 31.05.13. Based on net assets.

**On a look through basis across managers, excluding collective funds.

Please remember, past performance is not a guide to future performance, and the value of shares and the income from them can rise and fall, so investors may not get back the amount originally invested. This marketing communication is issued and approved by Witan Investment Services. Witan Investment Services Limited is registered in England no. 5272533 of 14 Queen Anne's Gate, London, SW1H 9AA. Witan Investment Services Limited provides investment products and services and is authorised and regulated by the Financial Conduct Authority. Calls may be recorded for our mutual protection and to improve customer service.

Investment Performance

Relative Performance (Total Return)*

Total performance over†	3 m	6 m	1 yr	3 yrs	5 yrs	10 yrs
Share Price (Total Return)	5.9%	27.3%	47.4%	51.1%	55.3%	179.7%
Net Asset Value** (Total Return)	5.1%	23.4%	39.1%	43.7%	45.9%	167.3%
Benchmark* (Total Return)	4.5%	17.2%	31.0%	39.0%	37.4%	147.0%
Relative NAV Performance	0.6%	6.2%	8.1%	4.7%	8.5%	20.3%

† Source: Datastream & FE Analytics, percentage growth to 31.05.13. Total return includes the notional investment of dividends.

Discrete performance††	Q1 2008 Q1 2009	Q1 2009 Q1 2010	Q1 2010 Q1 2011	Q1 2011 Q1 2012	Q1 2012 Q1 2013
Share Price (Total Return)	-24.2%	52.7%	10.1%	-1.3%	23.3%
Net Asset Value** (Total Return)	-24.6%	55.2%	9.6%	-2.2%	20.9%
Benchmark* (Total Return)	-24.5%	50.0%	8.5%	-1.2%	17.2%
Relative NAV Performance	-0.1%	5.2%	1.1%	-1.0%	3.7%

††Source: Datastream & FE Analytics, percentage growth to 31.03.13. Total return includes the notional investment of dividends.

*Since 01.10.2007 the benchmark has been a composite of 40% FTSE All-Share/20% FTSE All-World North America/20% FTSE All-World Europe (ex UK) /20% FTSE All-World Asia Pacific. From 01.09.2004 to 30.09.2007 the benchmark comprised of 50% FTSE All-Share/50% FTSE World (ex UK) and prior to this 60% FTSE All-Share/40% FTSE World (ex UK).

**The Net Asset Value figures value debt at fair value except for 10 year figure where debt is valued at par value.

Source: FTSE International Limited ("FTSE"). FTSE is a trade mark of the London Stock Exchange Group companies and is used by FTSE under license. For more information go to http://www.witan.com/legal-information.

Please remember, past performance is not a guide to future performance, and the value of shares and the income from them can rise and fall, so investors may not get back the amount originally invested. This marketing communication is issued and approved by Witan Investment Services. Witan Investment Services Limited is registered in England no. 5272533 of 14 Queen Anne's Gate, London, SW1H 9AA. Witan Investment Services Limited provides investment products and services and is authorised and regulated by the Financial Conduct Authority. Calls may be recorded for our mutual protection and to improve customer service.

Important Information

The value of investments and the income from them may go down as well as up and you may not get back your original investment. Investment trusts can borrow money to make additional investments on top of shareholders' funds (gearing). If the value of these investments falls, gearing will magnify the negative impact on performance. If an investment trust incorporates a large amount of gearing the value of its shares may be subject to sudden and large falls in value and you could get back nothing at all. Emerging markets tend to be more volatile than more established stock markets and therefore your money is at greater risk. Other risk factors such as political and economic conditions should also be considered. Funds which specialise in investing in a particular region or market sector are more risky than those which hold a very broad spread of investments. Funds investing in overseas securities are exposed to and can hold currencies other than Sterling. As a result, exchange rate movements may cause the value of investments to decrease or increase. Some, or all, of the annual management fee may be charged to the capital of the Fund. Whilst this increases the yield, it will restrict the potential for capital growth. Net Asset Value ("NAV") performance is not the same as share price performance and investors may not realise returns the same as NAV performance. Where a fund holds a limited number of investments and one or more of those investments declines or is otherwise adversely affected, it may have a more pronounced effect on the Fund's value than if a larger number of investments were held.

Contact Details

0800 082 81 80 www.witan.com