Transcript NORTHERN IRELAND CENTRAL INVESTMENT FUND FOR …

NI CENTRAL INVESTMENT FUND FOR CHARITIES
Investment Factsheet as at 31 March 2014
Background
The Northern Ireland Central Investment Fund for Charities (NICIFC) was set up in 1965 through the Charities Act (Northern
Ireland) 1964, with the aim of providing Charities with the opportunity to invest all or part of their assets in a centrally pooled fund,
administered by the Department for Social Development. The Fund is managed by recognised fund managers, with its investment
policy and performance reviewed on a quarterly basis by a locally based Advisory Committee, appointed by the Department.
The NICIFC operates as a Discretionary Managed Fund, with participating Charities allocated a proportionate number of shares
based on the size of their investment and the most recent valuation (share price). The Fund invests in Fixed-interest securities, UK
& Foreign Equities and selected Unitised Funds. The allocation between these asset classes is reviewed and adjusted periodically,
in line with the Fund’s investment policy.
Fund Performance to 31st March 2014
Fund Information
Aim
The primary objective of the Fund is to
generate income and thereafter longterm capital growth in real terms.
Income
To achieve an annual income return in
excess of the benchmark yield.
20%
LIBID 7 Day
5%
0.4%
7.7%
Dividend Yield (Fund)
3.8%
Dividend Yield (Target)
2.9%
Portfolio and benchmark returns for the quarter to 31/03/2014 are preliminary
estimates provided by Standard Life Wealth and have not been verified externally.
They could, therefore, be liable to subsequent adjustment.
Key Details
Long-term Total Return (Gross)
Fund
Share Price
1104.03p
Dividend Payment Dates
Jun &
Dec
Year End
30 Sept
Currency
Sterling
Annual Management Fee
0.35%
Currency
Sterling
Benchmark
20
15
10
5
0
-5
2009
£32m
2008
Fund Size
2007
1965
2006
Launch Date
-10
YTD 2014
FTSE World ex UK
Composite Benchmark
2013
50%
8.3%
2012
FTSE All Share
1.4%
2011
25%
3 Years Annualised
NICIFC
2010
Benchmark
FTA Govt All Stocks
3 months
-15
Risk Factors
-20
Year
2006
2007
2008
2009
2010
2011
2012
2013
YTD
2014
NICIF
11.1
4.7
-17.8
20.1
12.6
-0.7
10.7
15.6
1.4
Benchmark
10.7
5.7
-16.5
19.3
12.9
1.2
9.3
13.6
0.4
The portfolio is being managed with a
Medium Risk approach.
The value of any investment may go
down as well as up, as can the income
generated from it.
Perspective Shareholders may wish to
seek independent advice before
investing in this Fund.
Northern Ireland Central Investment Fund for Charities is a registered charity.
Charity Tax Reference Number XR 3429.
This is a financial promotion and is not intended as investment advice.
NI CENTRAL INVESTMENT FUND FOR CHARITIES
Investment Factsheet as at 31 March 2014
Fund Manager
NICIFC Fund Composition
Ethical Restriction: No direct investment permitted
In tobacco stocks
The current Fund Manager is
Standard Life Wealth. 30 Lothian
Road, Edinburgh EH1 2OH.
Standard
Life
Wealth
are
regulated
by
the
Financial
Conduct Authority.
Sector Allocation as a % of Total Market Value
British Government Bonds 9.989
Overseas Govt Index Linked Bonds
2.734
GBP Bonds 10.3
Standard Life Wealth is a global
thematic stock picking company.
This focus on themes helps to
identify the catalysts for change
and
capture
opportunities
wherever they occur.
Oil & Gas 7.142
4.45% 4.67%
2.46%
9.99%
2.98%
Basic Materials 7.029
2.73%
Industrials 6.343
Food & Beverages 5.027
Historic Fund Information
10.30%
10.13%
Health Care 11.289
Retail 1.555
As at
30
Sept
Share
Price (p)
Annual
Dividend
(p)
Yield (%)
7.14%
5.15%
Media 2.535
Telecommunications 6.221
2007
1036.16
40.00
3.86
2008
856.11
44.00
5.14
2009
881.43
39.00
4.42
2010
942.75
39.00
4.14
2011
893.25
40.00
4.48
2012
973.84
40.00
4.11
2013
1057.62
40.00
3.78
6.22%
2.54%
1.56%
7.03%
Utilities 5.148
11.29%
6.34%
5.03%
Financials 10.125
Technology 2.974
Unitised Investments Equities 2.464
Shares in issue as at 31/12/2013
2,923,253
Shares in issue as at 31/03/2014
2,895,144
Property & Alternative 4.45
Cash 4.673
Source: Standard Life Wealth 31st March 2014
Market Commentary
The state of the world in 2014 for financial investors requires a dualistic interpretation: financial markets
continued to offer the long term investor a means of achieving specific financial objectives, but this came
alongside continued short term volatility. Indeed, a see-saw effect was in evidence during the opening months of
the year with markets down in January, up in February and then for completeness, broadly flat in March.
Headline news was reflective of this: markets rise, the recovery stalls, economic green shoots strengthen. Will
Markets have reacted with moderate indifference to events in Eastern Europe, certain governments continue to
look beyond their borders, either to enhance their interests, or to deflect from domestic issues.
With an increasing divergence between economies and geographically focused stock markets, we are convinced
that our thematic stock-picking approach is well suited to the current environment, particularly given the flexibility
of our investment strategies and the depth of our investment research capability. Despite the challenges that we
may face in the future, both predicable and unseen, investment opportunities will always exist for the long term
investor, particularly for those invested in businesses that have the ability to weather short term macroeconomic
turbulence.
Contact
Central Investment Fund for Charities. c/o Department for Social Development, The Lighthouse Building, 4th Floor, 1 Cromac Place,
Gasworks Business Park, Ormeau Road, Belfast BT7 2JB. Tel: (028) 90829240 or email [email protected] or
[email protected].
Issued by Northern Ireland Central Investment Fund for Charities (NICIFC). NI CIFC is managed by the Department for Social Development through
recognised fund managers, and its investment policy is guided by a locally based Advisory Committee appointed by the Department.
All information (excluding Historic Fund Performance) is sourced from Standard Life Wealth Ltd.
All data as at 31 March 2014