The principal objective of the Company is to provide shareholders with an attractive income yield and the prospect of income and capital growth through investing in a portfolio of predominantly UK equities.
FSA Share Fraud Warning
Fraudsters use persuasive and high-pressure tactics to lure investors into scams. They may offer to sell shares that turn out to be worthless or non-existent, or to buy shares at an inflated price in return for an upfront payment.
While high profits are promised, if you buy or sell shares in this way you will probably lose your money.
Please click here to access a copy of the new FCA Share Fraud Warning leaflet, published August 2013
The Company have now appointed Equiniti, to offer ISA and Investment Account schemes for individuals. Application forms can be requested from Personal Assets Trust Administration Company on 0131 538 6610 or you can apply online. Please click here to be directed to the relevant website at Equiniti.
Manager's Monthly Report
During October the Trust delivered a Net Asset Value total return of +4.9% and share price total return of +5.1%. This compares with a +4.3% return for the FTSE All Share Index. In a good month for equities the strongest performances came from the holdings in AB Foods, Dairy Crest and BP. Conversely, utility shares lagged as the furore about retail energy prices continued to rage following retail price rises from both Centrica and SSE.
Since the height of the financial crisis, almost five years ago, Lloyds Banking Group has been undergoing a radical restructuring and has latterly made some significant steps in its long journey towards recovery. Most importantly Lloyds’ balance sheet has been steadily strengthening and the bank now looks increasingly well capitalised, progress that makes it ever more likely that the regulator will approve the reinstatement of the dividend. In addition, falling deposit rates and the green shoots seen in the UK economy mean that Lloyds is positioned to deliver attractive returns to its shareholders.
In September, another significant landmark was reached when the first tranche of the government’s stake was sold without difficulty. With the removal of this stock overhang no in train, and some clarity starting to appear in the regulatory environment, the risk and return profile being offered to investors in the shares of what was once Britain’s most highly regarded bank is again looking attractive. We judge this to be the right time to take the first steps towards buying back into the UK banking sector. The holding in Lloyds is likely to increase over time.