The North American Income Trust plc
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Investor Warning

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NMPI Status

The Company currently conducts its affairs so that securities issued by The North American Income Trust plc can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream Pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.

The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are securities in an investment trust.

 
 

Morningstar Ratings

Fund Rating

4 Star Rating
 
 

Risk Warning

The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.

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Past Performance

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 

Daily Data

At close 16-Apr-2014

Ord
Price803.50p
NAV828.86p
Prem/-Disc-3.06%
Net Dividend Yield3.36%


Source: Morningstar, NAV = Net Asset Value, excluding income.

 
 
 

The North American Income Trust plc

Objective

To provide investors with above average dividend income and long term capital growth through active management of a portfolio consisting predominantly of S&P 500 US equities. Dividends - paid semi-annually in first year; quarterly thereafter.

 

The North American Income Trust plc Half Yearly Report for the six months ended 31 Jul 13
Paul Atkinson, Head of North American Equities

In this webcast, Paul Atkinson gives an update on a wide range of subjects including performance, sector breakdown and the twenty largest investments.

Click here to listen to the presentation.

 

 

Manager's Monthly Report

February 2014

Both the North American equity and US fixed income markets posted gains in February. Stock prices were bolstered largely by an overall positive start to the quarterly corporate earnings season, while generally disappointing US economic data had a positive impact on the bond market. Reflecting the “risk-on” environment during the month, the more cyclical sectors of materials and energy were the strongest performers within the broader-market S&P 500 Index. Conversely, the more stable and dividend-rich sectors underperformed, including telecommunications, which posted a negative return and was the primary market laggard.

In February, we added to the position in diversified global technology company Emerson Electric following a period of share price weakness, and reduced our position in technologyrelated REIT Digital Realty Trust following a period of share price strength. We also trimmed our position in health insurer Aflac.

During the month, Digital Realty Trust announced a 6% increase in its quarterly dividend payout to US$0.83 per share, which, at the month-end share price, was equivalent to an annualised yield of 6.1%. Management noted that the company was able to boost the payment due to expected continued growth in funds from operations (FFO). Digital Realty Trust has raised its dividend 12 times since the company’s initial public offering in 2004. Emerson Electric maintained its quarterly dividend at US$0.43 per share, which represented an annualised yield of 2.6% at the stock’s closing price at 28 February. Aflac’s dividend also was unchanged at US$0.37 a 12-month yield of 3.1% based on the stock price at the end of February.

 
 

Trust Details

The North American Income Trust plc

Registered Office:
7th Floor
40 Princes Street,
Edinburgh,
EH2 2BY

Registered in Scotland as an Investment Company Number 005218