Invesco Income Growth Trust plc
Interim Management Statement
for the Three Months ended 31 December 2013
Material Events
No material events, specifically in relation to the Company, occurred during
the period.
Dividends
During the period, a second interim of 2.05p per ordinary share was paid in
respect of the Company's financial year ending 31 March 2014. This dividend was
paid on 31 December 2013 to shareholders on the register on 6 December 2013 and
the shares were marked ex-dividend on 4 December 2013.
The Directors have also declared a third interim dividend for the financial
year of 2.1p per ordinary share payable on 14 March 2014 to shareholders on
the register on 21 February 2014. The shares will be marked ex-dividend on 19
February 2014.
Performance - Total Return
3 Months 1 Year 3 Years 5 Years
Share Price 6.4% 24.6% 64.7% 125.4%
Net Asset Value 7.9% 29.4% 59.4% 121.3%
FTSE All-Share Index 5.5% 20.8% 31.0% 95.2%
Source: Thomson Reuters Datastream
Share Price and Discount
As at For the Three Months Ended 31 Dec 2013
31 Dec 2013 High Low Average
Share Price (pence) 277.0 279.0 260.5 268.8
Discount 5.0%
Source: Thomson Reuters Datastream
Assets and Gearing
31 Dec 2013
Total Gross Assets (£m) 189.4
Cash (£m) -
Borrowings (£m) 18.6
Cum Income Net Asset Value (pence) 291.6
Gross Gearing 10.9%
Net Gearing 10.9%
`Gross Gearing' reflects borrowings, whereas `Net Gearing' reflects the amount
of net borrowings, i.e. borrowings less cash and cash equivalents in use by the
Company. Both are expressed as a percentage of shareholders' funds.
Sector Breakdown of Portfolio
31 Dec 2013
Consumer Services 23.6%
Industrials 15.2%
Financials 14.5%
Healthcare 10.2%
Utilities 10.1%
Consumer Goods 10.0%
Oil & Gas 8.1%
Telecommunications 5.4%
Basic Materials 2.9%
Top Ten Holdings
Ranking Top Ten Holdings at 31 Dec 13* %
of Portfolio
1 GlaxoSmithKline 3.9%
2 AstraZeneca 3.7%
3 British American Tobacco 3.4%
4 HSBC 3.4%
5 BP 3.3%
6 Imperial Tobacco 3.0%
7 Vodafone 2.7%
8 BT Group 2.7%
9 Young & Co.'s Brewery (non-voting) 2.5%
10 Legal & General 2.4%
* All Ordinary shares
Changes to Share Capital
Ordinary Shares of 25p each
Issued Treasury
As at 30 Sep 2013 58,551,530 0
Shares bought back 0 0
Shares issued 0 0
As at 31 Dec 2013 58,551,530 0
The Company has authority to buy back shares (for cancellation or into
treasury) and to issue new shares (disapplying pre-emption rights), in each
case within specified limits. The Company expects to renew these authorities at
the Annual General Meeting each year.
Administration
The Company's Ordinary shares are listed on the London Stock Exchange and the
price is published in The Financial Times, The Daily Telegraph and The Times.
The Company's net asset value is calculated on a daily basis and can be viewed
on the London Stock Exchange website at www.londonstockexchange.com.
Further information can be obtained from Invesco Perpetual as follows:
Free Investor Helpline: 0800 085 8677
Internet address: www.invescoperpetual.co.uk/investmenttrusts
The information provided in this statement should not be considered as a
financial promotion.
For and on behalf of
Invesco Asset Management Limited
- Company Secretary
20 January 2014