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Edinburgh UK Tracker Trust plc

 

Objective

The objective of Edinburgh UK Tracker Trust plc is to invest in a portfolio designed to track closely the FTSE All-Share index, both in terms of capital and income.

Manager's Monthly Report

December 2008


Performance

The capital NAV of the Trust fell by 2.2% in November which was slightly ahead of the return from the FTSE All-Share Index. UK equities rallied at the start of the month in response to the Bank of England’s dramatic cut in base rates by 1.5% to 3.0%. However, as more evidence emerged of the extent of the slowdown in the economy, equities gave back all of these early gains and more. With some high profile retailers (Woolworths and MFI) being forced into administration and daily announcements of redundancies across many industries, further cuts in interest rates are likely. The FTSE 100 Index fell by 2.0%, the FTSE 250 fell by 3.0% while the FTSE SmallCap fell by 8.0%.

Activity

The stocks added to the FTSE 350 Index in November were Fidessa and BTG replacing Taylor Nelson Sofres and Benfield respectively.

Strategy

The Trust’s portfolio replicates in full the constituents and weightings of the FTSE 350 Index and also holds most of the constituents of the FTSE SmallCap Index.


Source: Monthly Factsheet Aberdeen Asset Managers Limited