Malta: Interim Management Statement
Last Updated: 22 May 2015

New investment team and refreshed strategy driving strong Q1 performance

Key Highlights

  • Alliance Trust reiterates its focus on generating a real return for shareholders over the medium to long term through capital growth and rising dividend
  • TSR was 6.9% and NAV TR 7.9% for the quarter which are now both ranked in the top or second quartile of the Global Sector peer group over 1 year
  • The equity portfolio has outperformed the MSCI All Country World Index over 1, 3 and 6 months, reflecting the time since Peter Michaelis assumed the role of Head of Equities and Simon Clements was appointed to manage the equity portfolio of the Trust
  • Share price continues to reach new all-time highs, exceeding 500p for the first time in March 2015 and reaching an all-time high of 523p
  • This year will be an exciting period for both our subsidiaries and we remain confident that they will deliver long-term value for our shareholders:
    • Alliance Trust Investments (ATI) ended the quarter with over £2bn of third party assets under management (AUM). ATI has a pipeline of prospective institutional clients and the Monthly Income Bond Fund generated £26.2m of net inflows during the period
    • ATS increased account numbers and Assets under Administration (AUA) reached £7bn in March, before the pension changes come into effect in April and before the upgrade to the intermediary platform in the summer. Today AUA stands at £7.3bn
  • The investment process and portfolio are well-positioned to deliver an increasing value of our shareholders' investments

Katherine Garrett-Cox, Chief Executive of Alliance Trust PLC, said:

"We are pleased with the strong performance of Alliance Trust over the first three months of the year which we believe shows that our strategy is working. The Trust has outperformed the Global Sector over the first three months of the year, a continuation of the work Peter Michaelis and Simon Clements have done since they were appointed in September of last year. Both of our subsidiaries have also shown very encouraging progress and continue to grow, with Alliance Trust Investments seeing the strongest ever quarterly net inflows in its bond funds and Alliance Trust Savings exceeding £7 billion in assets under administration for the first time."

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