*

SIT's monthly statement

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4 March 2008

THE SCOTTISH INVESTMENT TRUST PLC

NAV and Monthly Statement

SUMMARY BALANCE SHEET

 


29 February
2008
£’m

Year End
31 October 2007
£’m


Change

%

Equity investments

763.1

835.4

 

Net current assets

35.9

66.0

 

Total assets

799.0

901.4

 

Borrowings at market value

(106.7)

(112.3)

 

Pension Liability

(0.8)

(0.8)

 

Equity Stockholders' funds
with borrowings at market value

691.5

788.3

 

Net asset value per ordinary unit
with borrowings at market value

522.0p

587.1p

-11.1

Net asset value per ordinary unit
with borrowings at par

521.4p

590.8p

-11.7

Effective gearing ratio
with borrowings at market value

1.10

1.06

 

Effective gearing ratio
with borrowings at par

1.10

1.05

 

 

DISTRIBUTION OF ASSETS

 


29 February
2008
%

Year End
31 October
2007
%

Equities

UK

37.6

32.4

Europe

16.8

17.9

North America

23.5

23.0

Latin America

3.7

1.0

Japan

2.9

3.1

Asia Pacific (ex Japan)

9.9

14.5

Middle East & Africa

1.1

0.8

Total Equities

95.5

92.7

Net Current Assets

4.5

7.3

Assets Employed

100.0

100.0

 

TOP TEN HOLDINGS AT 29 February 2008

 

%

BG Group

2.9

Barclays

2.5

Petrobras

2.4

Monsanto

2.3

China Mobile

2.2

Rio Tinto

2.2

Lloyds TSB

2.1

AT&T

1.8

McKesson

1.7

De La Rue

1.7

 

Total

21.8

No investment amounts to more than 5% of total investments.

UK LISTED INVESTMENT COMPANIES AT 29 February 2008
(* Has a declared policy not to invest more than 15% in Listed Investment companies)

 

%

HG Capital Trust*

1.3

Impax Enviromental Markets*

0.5

Merril Lynch World Mining Trust*

0.3

Invista European Real Estate Trust

0.3

Invista Foundation Property Trust*

0.3

Standard Life Investments Property Income Trust *

0.3

Thompson Clive Investment Trust*

0.0

 

Total

3.0


In line with our reporting policy, the Net Asset Values are calculated taking the valuation of investments at closing bid or last price, as the case may be.
The Net Asset Values are unaudited and exclude accrued income for the current financial year and are calculated after deducting dividends proposed
but not yet paid.

Market value is the company’s estimate of the fair value of its borrowings.

Par value is the nominal value of the borrowings less any unamortised issue expenses.

Total assets means total assets less current liabilities

All percentages are of total assets


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Registered Office 6 Albyn Place, Edinburgh, EH2 4NL ©2006 The Scottish Investment Trust PLC
An investment company registered in Scotland number 1651

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