The North American Income Trust plc
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Investor Warning

Please be aware of scams that can affect investors.

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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.

 

Pre-investment Disclosure Document (PIDD)

The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of The North American Income Trust plc, to make available to investors certain information prior to such investors’ investment in the Company.

The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.

Read the PIDD for The North American Income 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.

Read the detailed Risk Warning
 

Past Performance

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

 
 

Daily Data

At close 25-Jul-2014

Ord
Price815.00p
NAV862.43p
Prem/-Disc-5.50%
Net Dividend Yield3.44%


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 Annual Report for the year to 31 Jan 2014
Paul Atkinson, Head of North American Equities

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

Click here to listen to the presentation.

 

 

Manager's Monthly Report

June 2014

US large-cap equities rose in June despite mixed economic data reports and ongoing concerns about geopolitical tensions in Ukraine and the Middle East. The strongestperforming sectors within the broader-market S&P 500 Index included energy, utilities and information technology. Conversely, telecommunication services was the only sector to record a negative return in June, while consumer staples and industrials also underperformed the overall market.

US GDP declined 2.9% in the first quarter of 2014 due mainly to weaker consumer spending and exports. Full year estimates of 2.5-3.0% GDP growth will be back-end-loaded. The Federal Reserve announced another US$10 billion reduction in its asset purchase plan effective in July, citing continued improvement in the employment situation. However, the outlook for the labour market remains mixed, as strong US payrolls expansion in June and the corresponding drop in the unemployment rate to 6.1% was offset by concerns over historically low labour participation rates.

Among the Trust’s holdings, retailer Target announced a 21% increase in its quarterly dividend payment from US$0.43 to US$0.52 per share, raising its current annualised forward dividend yield to 3.6% based on its closing share price on 30 June.

During the month we increased the Trust’s investment in Freeport-McMoRan Copper. Additionally, we initiated an investment in Ventas, a real estate investment trust specialising in healthcare with good dividend growth prospects. We divested our investment in Healthcare Realty Trust.

Our callable Seagate Technology 7% bonds due 2021 were tendered early by the company. We reinvested the proceeds into new Seagate Technology 4.75% due 2024 and energy services-related Hercules Offshore 6.75% due 2022. We also marginally reduced our holding in Taseko Mines 7.75% notes due 2014.

 
 

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