WITAN INVESTMENT TRUST PLC Witan Investment Trust plc Half Year Report 2022
Collective
Wisdom
Company overview
Our investment policy
Witan invests primarily in listed companies across global equity markets, using a multi-manager approach. The Company's actively managed portfolio covers a broad range of markets and sectors, offering a distinctive way for investors to access the opportunities created by global economic growth.
Our purpose
is to achieve significant growth in our investors' wealth by investing in global equity markets, using a multi-manager approach.
Our objective
is to achieve an investment total return exceeding that of the Company's benchmark(1) over the long term, together with growth in the dividend ahead of inflation.
Where to find us
Our website has a full range of information about Witan and regular commentary about investment markets.
Find us online @ www.witan.com
- Witan's benchmark is 85% Global (MSCI All Country World Index) and 15% UK (MSCI UK IMI Index).
CONTENTS
01 Financial highlights
- Our investment approach
- Interim management report
- Top 40 investments
- Portfolio structure
- Regulatory disclosures
- Financial Statements
- Notes to the Financial Statements
-
Additional Shareholder Information
IBC Contacts
The Half Year Report is intended to help shareholders assess the Company's strategy and performance. It contains certain forward-looking statements. These are made by the directors in good faith based on information available to them up to the time of their approval of this Report. Such statements should be treated with caution due to the inherent uncertainties, including economic and business risks, underlying any such forward-looking information.
Financial highlights
- high conviction yet well-diversified portfolio
To read more about
our diversified portfolio see page 9
78%(3)
Active share as at 30 June 2022
We are active investors with a highly selective approach to portfolio construction. This is different from a passive fund which replicates a particular index.
Witan Investment Trust plc
Half Year Report 2022
Key data as at 30 June 2022
206.0p | 226.2p |
SHARE PRICE | NAV PER ORDINARY |
31 DEC 2021: 252 .0p | SHARE (DEBT AT FAIR VALUE)(3) |
31 DEC 2021: 267.4p |
8.9% | 2.80p |
DISCOUNT (NAV INCLUDING | DIVIDEND PER SHARE |
INCOME, DEBT AT FAIR VALUE)(3) | 30 JUN 2021: 2 .72p |
31 DEC 2021: 5. 8% |
Total return performance
6 month | 1 year | 5 years | 10 years |
% return | % return | % return | % return |
SHARE PRICE TOTAL RETURN(1)(3) | -17.1 | -12.6 | 16.2 | 187.5 |
NAV TOTAL RETURN(1)(3) | -14.3 | -11.7 | 23.5 | 171.3 |
WITAN BENCHMARK(1) | -9.6 | -2.6 | 42.7 | 169.9 |
MSCI ACWI INDEX(2) | -10.7 | -3.7 | 53.8 | 214.9 |
MSCI UK IMI INDEX(2) | -2.9 | 3.7 | 17.0 | 90.4 |
Percentage of total funds
37% | 20% | 17% | 5% | ||
NORTH AMERICA UNITED KINGDOM | EUROPE | ASIA | |||
3% | 4% | 2% | 12% | ||
JAPAN | OTHER | UNQUOTED | INVESTMENT | ||
FUNDS | COMPANIES | ||||
SECTOR BREAKDOWN OF THE PORTFOLIO(5) | |||||
14% | Industrials | ||||
12% | Information Technology | ||||
11% | Healthcare | ||||
11% | Consumer Staples | ||||
9% | Financials | ||||
8% | Communication Services | ||||
8% | Consumer Discretionary | ||||
7% | Materials | ||||
4% | Energy | ||||
2% | Other | ||||
2% | Unquoted Funds | ||||
12% | Investment Companies | ||||
COMPANY SIZE BREAKDOWN OF THE PORTFOLIO(5)
72% Large Cap
10% Mid Cap
4% Small Cap
2% Unquoted Funds
12% Investment Companies
- Source: Morningstar.
- Source: Morningstar. See also MSCI for conditions of use (www.msci.com).
- Alternative performance measure (see page 20).
- 30 June 2022 data is unaudited.
(5) Source: BNP Paribas as at 30 June 2022. | 01 |
Our investment approach
Talent
We search for the best fund managers worldwide, choosing managers to complement each other, not to cover all styles. Our managers are active investors and construct high conviction portfolios focusing on their best ideas.
This high level of conviction produces portfolios which are differentiated from their benchmarks which they aim to outperform.
Experience
Founded in 1909, we have a long track record of producing capital and income growth. We have invested through challenging economic cycles, wars and political crises, helping put contemporary events into perspective. Since the adoption of the current multi-manager strategy in 2004, shareholders have enjoyed a share price total return of 463.4% versus 386.6% for Witan's benchmark and 231.8% for the MSCI UK Index.
Collective Wisdom
- one-stopshop for global equity investment, offering long-term growth in capital and income.
02 | Witan Investment Trust plc |
Half Year Report 2022 |
Independence
Witan is an independent and self- managed investment company - dedicated to sustainable growth in its shareholders' wealth. Witan's employees are solely focused on the success of the Company.
Our independence means we simply seek, without pre-set constraints, to select the best managers available, in the interest of our shareholders.
Adaptable
Our multi-manager strategy allows us to respond to changes in long-term trends either by changing managers and investment style or investing via our specialist portfolio with managers who have expert knowledge of particular sectors or regions. Using gearing and derivatives we can also adapt our portfolio to short-term opportunities
or to manage risk.
We search for the best managers around the world to create a portfolio that is diversified by region, investment sector and individual company level. This provides broad opportunities for investors and reduces the risks arising from reliance on a single manager.
Our highly experienced Board of directors and Executive have many years' collective experience of both managing assets, selecting managers and of delivering sound, independent governance.
Witan Investment Trust plc | 03 |
Half Year Report 2022 |
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Disclaimer
Witan Investment Trust plc published this content on 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 06:11:09 UTC.
