Assets and dividend information

NAV is net asset value per share.
In line with out reporting policy, the NAVs are calculated taking the valuation of investments at closing bid or last price, as the case may be. The latest NAVs are unaudited.
Borrowings at par is the nominal value of the borrowings less any unamortised issue expenses.
Borrowings at market value is the company's estimate of the fair value of its borrowings. The current estimated fair value of the company's secured bonds is based on the redemption yield of the reference gilt plus a margin of 100 basis points. The reference gilt is the 6% Treasury Stock 2028.
Total assets means total assets less current liabilities.
Gearing is based on ex-income figures with borrowings at par.

Please remember that past performance may not be repeated and is no indicator of future performance. The value of shares and the income from them can go down as well as up as a result of market and currency fluctuations and investors may not get back the amount originally invested. SIT has a long term policy of borrowing money to invest in equities in the expectation that this will improve returns and, should stockmarkets fall, such borrowings would magnify losses on these investments. The Trust can buy back and cancel its own shares.  All other things being equal, this would have the effect of increasing gearing.  For planning purposes, an investment in The Scottish Investment Trust PLC should be viewed as a long term commitment.

All sources SIT unless otherwise stated. Industry Classification Benchmark (ICB): Source and copyright© FTSE International Limited and Dow Jones & Company, Inc. All rights therein are reserved. ICB is jointly owned by FTSE and Dow Jones and has been licensed for use. FTSE and Dow Jones do not accept liability to any person for any loss or damage arising out of any error or omission in the ICB.