Perpetual Income & Growth Investment Trust plc
Interim Management Statement
for the Four Months ended 31 July 2009
Material Events
1,357,905 ordinary shares were issued on 9 July 2009 and 250,000 ordinary
shares were issued on 15 July 2009, both issues being made in accordance with a
block listing authority previously granted by the UK Listing Authority and the
London Stock Exchange for 7,500,000 ordinary shares of 10p each fully paid in
the Company.
Mr James D'Albiac retired from the Board after the Company's Annual General
Meeting on 8 July 2009, at which all resolutions were carried.
Dividends
On 5 June 2009, the Directors declared the second interim dividend for the year
ending 31 March 2009 of 5.2p per ordinary share. In addition, they declared a
special dividend of 0.84p per ordinary share. Both dividends were paid on 9
July 2009 to ordinary shareholders on the register on 19 June 2009.
Performance - Total Return
4 Months 1 Year 3 Years 5 Years
Share Price 13.3% -8.8% -9.0% 41.0%
Net Asset Value 14.3% -10.7% -12.1% 37.5%
FTSE All-Share Index 20.3% -10.5% -12.3% 28.2%
Source: Fundamental Data
Share Price and Discount
For the Four Months Ended 31 July 2009
As at 31 July High Low Average
2009
Ordinary shares mid- 187.50 198.25 170.00 187.00
market price (pence)
(Discount)/Premium -5.7%
Subscription shares 28.00 34.00 23.50 29.70
mid-market price
(pence)
Source: Datastream
Assets and Gearing
31 July 2009 31 March 2009 Change
Total Gross Assets (£m) 493.2 445.2 10.8%
of which cash (£m) - -
Borrowings (£m) 75.8 66.0
Cum income Net Asset Value - diluted 198.7 *176.0 12.9%
(pence)
Actual Gearing 118 117
Asset Gearing 118 116
* ex dividend
`Actual Gearing' reflects loans drawn down, whereas `Asset Gearing' reflects
the amount of loans invested in the portfolio. A figure of 100 means that the
Company has no gearing.
Sector Breakdown of Portfolio
31 July 2009 31 March 2009
Consumer Goods 19.8% 17.0%
Utilities 16.4% 17.3%
Health Care 14.2% 14.0%
Industrials 11.0% 10.8%
Financial 9.7% 8.4%
Telecommunications 9.5% 7.2%
Oil & Gas 9.1% 15.6%
Consumer Services 8.0% 7.0%
Technology 1.5% 2.3%
Basic Materials 0.8% 0.4%
Top Ten Holdings
Ranking Investment % of Bought/Sold Ranking at
Portfolio
Now in Period 30 March
20098
1 AstraZeneca 5.6 B/S 5
2 Imperial Tobacco 5.5 B/S 2
3 Reynolds American 5.3 B 6
(US Common Stock)
4 BG 5.3 - 1
5 British American 4.9 - 7
Tobacco
6 Vodafone 4.8 B 8
7 GlaxoSmithKline 4.8 B/S 4
8 Tesco 4.2 - 9
9 BT 4.2 B 16
10 National Grid 3.2 B 12
All ordinary shares unless otherwise stated.
Changes to Share Capital
Ordinary Shares of 10p Subscription
each
Shares
Issued Treasury
As at 31 March 2009 208,404,620 - 17,720,924
Ordinary shares bought - - n/a
back
Ordinary shares issued 1,607,905 - n/a
Subscription shares - - -
exercised
As at 31 July 2009 210,012,525 - 17,720,924
The Company has authority to buy back shares (for cancellation or into
treasury) and to issue new shares (disapplying pre-emption rights), in each
case within specified limits. The Company expects to renew these authorities at
the Annual General Meeting each year.
Price and Performance
The Company's ordinary shares are listed on the London Stock Exchange and the
price is published in the Financial Times under `Investment Companies' and in
the Daily Telegraph under `Investment Trusts'.
The Company's net asset value is calculated on a daily basis and can be viewed
on the London Stock Exchange website at www.londonstockexchange.com
Further information can be obtained from Invesco Perpetual as follows:
Free Investor Helpline: 0800 085 8677
Internet address: www.invescoperpetual.co.uk/investmenttrusts
The information provided in this statement should not be considered as a
financial promotion.
Interim management statements are expected to be published in January and July
each year.
Issued by Invesco Asset Management Limited
for and on behalf of the Board of Perpetual Income and Growth Investment Trust
plc
8 September 2009
Contact: Andrew Watkins
020 7065 4000
Registered Office
30 Finsbury Square, London, EC2A 1AG
Telephone: 020 7065 4000
Facsimile: 020 7065 3166
Registered in England No 3156676
An Investment Company under Section 833
of the Companies Act 2006