Presentation on theme: "Aim The primary objective of the Fund is to generate income and thereafter long- term capital growth in real terms. Income To achieve an annual income."— Presentation transcript:
Aim The primary objective of the Fund is to generate income and thereafter long- term capital growth in real terms. Income To achieve an annual income return in excess of the benchmark yield. Benchmark NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 30 September 2014 Fund Information Launch Date1965 Fund Size£34.08m Share Price1116.58p Dividend Payment DatesJun & Dec Year End30 Sept CurrencySterling Annual Management Fee0.35% CurrencySterling Key Details Long-term Total Return (Gross) Northern Ireland Central Investment Fund for Charities is a registered charity with HMRC This is a financial promotion and is not intended as investment advice. 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. Risk Factors Fund Performance to 30 th September 2014 3 months 3 Years Annualised FTA Govt All Stocks25% FTSE All Share50% FTSE World ex UK20% LIBID 7 Day5% NICIFC1.4% 12.6% Composite Benchmark1.1% 11.2% Dividend Yield (Fund)3.8% Dividend Yield (Target)2.9% Portfolio and benchmark returns for the quarter to 30/09/14 are preliminary estimates provided by Standard Life Wealth and have not been verified externally. They could, therefore, be liable to subsequent adjustment. The portfolio is being managed with a Medium-High Risk approach. The value of any investment may go down as well as up, as can the income generated from it. Prospective Shareholders may wish to seek independent advice before investing in this Fund. Year 20062007200820092010201120122013 YTD 2014 NICIF 11.14.7-17.820.112.6-0.710.715.64.7 Benchmark 10.75.7-16.519.318.104.22.1683.63.5
NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 30 September 2014 Fund Manager The current Fund Manager is Standard Life Wealth. 1 George Street, Edinburgh EH2 2LL. Standard Life Wealth are regulated by the Financial Conduct Authority. Standard Life Wealth applies a global thematic stock picking strategy. This focus on themes helps to identify the catalysts for change and capture opportunities wherever they occur. 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 30 September 2014. Source: Standard Life Wealth 30 th September 2014 Market Commentary Historic Fund Information As at 30 Sept Share Price (p) Annual Dividend (p) Yield (%) 2008 856.11 44.005.14 2009 881.43 39.004.42 2010 942.75 39.004.14 2011 893.25 40.004.48 2012 973.84 40.004.11 2013 1057.62 40.003.78 2014 1116.58 40.003.48 Shares in issue as at 31/06/2014 3,015,936 Shares in issue as at 30/09/2014 3,052,370 Ethical Restriction: No direct investment permitted In tobacco stocks Sector Allocation as a % of Total Market Value NICIFC Fund Composition Contact As the financial crisis of 2008 subsides from our memory, we note a clear divergence in global recovery rates. The US is growing at its fastest rate since 2011, at 4.6% per annum, and the UK is expected to grow at a rate of 3.1% in 2014. This is a really positive story but when compared with previous recoveries the conclusion must be that this is a very different type of recovery and it is one which has passed many people by. There’s evidence that investment is starting to be made back into businesses, as well as an increase in mergers and acquisitions. It’s uncertain at present whether these developments will lead to the earnings growth that is being demanded by investors. But with markets having rallied to recent highs its important that companies start to deliver sustainable earnings to justify their ratings. By and large, economic news has continued along the same trend over the summer. The UK and the US continue to enjoy above-average growth rates and steadily falling unemployment rates. The US should finish tapering off its stimulus package in October and, like the UK, all eyes will be on the timing of the first interest rate rise and the pace of subsequent rises. In such an uncertain world, the natural reaction is to focus on short term political and economic noise, ignoring the markets’ longer term prospects. Standard Life Wealth’s thematic investment process focuses on identifying long term drivers of change. This allows them to generate investment ideas that can benefit from growth trends, whilst also helping to steer away from areas of inherent risk. Standard Life Wealth continue to believe that in any economic environment, there will be opportunities for investors who are willing to take a certain level of risk, to achieve defined investment objectives over the long term. NI Central Investment Fund for Charities. c/o Department for Social Development, The Lighthouse Building, 4 th Floor, 1 Cromac Place, Gasworks Business Park, Ormeau Road, Belfast BT7 2JB. Tel: (028) 90829240 or email firstname.lastname@example.org or email@example.com@dsdni.gov.uk firstname.lastname@example.org
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