Interim Management Statement Interim Management Statement - Blue Planet Worldwide Financials Investment Trust
14 Mai 2009 - 11:35AM
UK Regulatory
TIDMBPW
Quarter Ended the 30th April 2009
Fund Manager's Review
April was a very good month for the Fund. Our NAV rose 22.1% in the month to 71.8p per share, while our benchmark index
rose 13.9%. The share price rose 46.2% to 57.0p. This month's NAV increase means that NAV has increased 18.9% over the
past 3 months compared to a 15.7% rise in its benchmark. As of 30th April 2009, shareholder funds were GBP10,105,311 and
total borrowings were GBP4,665,781.
We are confident that the worst of the economic downturn is behind us, which is being borne out by an improvement in the
economic indicators that we closely monitor. This has led to an improved outlook for banks. The share prices of banks
have fallen to very low levels, and we have positioned ourselves into the banks we feel represent the best value and
whose share prices have the greatest scope for high returns. Signs of more positive market sentiment and an improving
macro-economic picture make the sector very attractive, and we believe careful stock selection will add long-term value
to our portfolio.
This month banks began to report their financial results for the first quarter of 2009. Many of these results were ahead
of expectations as banks boosted income and cut costs, offsetting a ramp up in provisions for bad loans. A summary of
the first quarter financial results for banks held in our portfolio is provided below. The net income growth is a
comparison of this year against the previous year:
Bank of America Corp Net Income ("NI") rose 250%
Wells Fargo & Co. NI increased 52%
Bank of India NI rose 50% (full year to 31st Mar 09)
LIC Housing Finance NI rose 37% (full year to 31st Mar 09)
Goldman Sachs Group NI was up 20%.
Banco Santander NI rose 15%
JP Morgan Chase & Co NI fell 12.5%
Banco Bilbao Vizcaya Argentaria NI dropped 14%, excluding exceptionals
Erste Group Bank NI fell 26%
American International Group Net Loss narrowed by 44%
U. S. Bancorp NI fell 52%
American Express Co. NI fell 64%
UBS Net Loss narrowed by 79%
Metlife reported a fall of 193% in profits to record a net loss.
URSA 9 month 2008 NI fell 50% (nine-month result to September 2008)
Cumulative Performance (%) as of 30th April 2009
Current(p) 1 month 3 months 6 months 1 year 3 years 5 years
NAV 71.79 22.1% 18.9% 9.3% -54.1% -63.7% -4.9%
Share Price - 57.00 46.2% 62.9% 24.2% -53.4% -68.8% 14.7%
Total Return
Benchmark 54.66 13.9% 15.7% 4.2% -30.7% -36.4% -4.2%
Discount/Premium (%) -20.6 -33.7 -42.0 -30.4 -22.0 -8.1 -33.6
Source: Blue Planet, share price bid to bid, net income reinvested
Discrete Annual Performance (%) as of 30th April 2009
Share price Benchmark
1Q/08 - 1Q/09 -68.6% -34.1%
1Q/07 - 1Q/08 -44.7% -15.8%
1Q/06 - 1Q/07 31.8% -1.0%
1Q/05 - 1Q/06 137.3% 43.2%
1Q/04 - 1Q/05 33.7% 6.8%
Source: Blue Planet, share price bid to bid, net income reinvested
Portfolio Information as of 30th April 2009
Security Security Country Valuation Weighting
Type Name GBP %
61,696 Equity BP Global Financials-A Class Ireland 2,631,371 13.6
6,397,274 Equity URSA Bank Russia 1,247,946 6.5
81,285 Equity Bank Vozrozhdenie Russia 697,393 3.6
114,739 Equity Bank of America Corp USA 688,124 3.6
1,494,233 Equity Royal Bank of Scotland Group UK 624,589 3.2
277,820 Equity Federal Bank Ltd India 573,385 3.0
15,105 Equity BNP Paribas France 543,778 2.8
54,446 Equity UBS AG Switzerland 528,984 2.7
464,598 Equity Lloyds Banking Group plc UK 519,885 2.7
76,664 Equity Banco Santander SA Spain 498,495 2.6
21,277 Equity JP Morgan Chase & Co USA 472,582 2.4
29,200 Equity National Bank of Greece S.A. Greece 417,083 2.2
39,000 Equity Standard Chartered plc UK 411,060 2.1
28,252 Equity Erste Group Bank AG Austria 403,795 2.1
20,000 Equity MetLife Inc. USA 401,082 2.1
4,630 Equity Goldman Sachs Group Inc. USA 400,014 2.1
75,770 Equity LIC Housing Finance India 372,749 1.9
385,033 Equity Yapi Ve Kredi Bankasi Turkey 350,331 1.8
116,951 Equity Bank of Cyprus Ltd Cyprus 313,805 1.6
345,160 Equity South Indian Bank (P-Notes) India 295,451 1.5
17,034 Equity American Express Co USA 290,695 1.5
306,600 Equity American International Group USA 284,004 1.5
22,800 Equity U.S. Bancorp USA 280,722 1.5
6,310,392 Equity Other - 935,330 4.8
14,182,653 73.4
Security Cash Denomination Valuation Weighting
Type Security Name GBP %
Bonds Rusfinan Bank-4 7.74% 02/10 R Russia 175,040 0.9
Bonds AK BARS - 8.25% 06/10 $ Russia 126,437 0.7
301,477 1.6
Security Cash Denomination Valuation Weighting
Type Security Name GBP %
Liquid Assets Near Cash Assets GBP 0 0.0
Liquid Assets Cash GBP 354,212 1.8
Liquid Assets Cash Other Currency 4,461,798 23.2
4,816,010 25.0
19,300,140 100.0
For more information, please visit www.blueplanet.eu
You can also contact the Company on 0845 527 7588 or by emailing info@blueplanet.eu
Blue Planet (LSE:BPW)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Blue Planet (LSE:BPW)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024
