Monthly Archives: July 2023

The Aurora Investment Trust

The Aurora Investment Trust is a London listed investment trust.

Holdings above 3%

Frasers Group 20.3% of the fund
Castelnau Group Ltd 15.7% of the fund
Barratt Developments 14.120.3% of the fund
Ryanair 8% of the fund
Netflix 6.8% of the fund
easyJet 6.5% of the fund
Lloyds Banking Group 5% of the fund
RHI Magnesita 4% of the fund
Bellway 3.6% of the fund
AO World 3% of the fund
Others <3% 12.8*
Cash & Cash Equivalents 0.2%

Courtesy of The London Stock Exchange


The Baillie Gifford China Growth Trust Trust

The Baillie Gifford China Growth Trust Trust aims to produce long term capital growth by investing in an actively managed portfolio of Chinese companies

Its top ten holdings:-

Bytedance Ltd Series E-1 Pref. 6.32%
Tencent Holdings Ltd 6.02%
Alibaba Group Holding Ltd Ordinary Shares 5.87%
Kweichow Moutai Co Ltd Class A 4.77%
Ping An Insurance (Group) Co. of China Ltd Class H 4.43%
Li Ning Co Ltd 3.51%
China Merchants Bank Co Ltd Class H 3.37%
Meituan Class B 3.28%
Zhejiang Sanhua Intelligent Controls Co Ltd Class 2.54%
Proya Cosmetics Co Ltd Class A 2.27%

Courtesy of The London Stock Exchange

The Edinburgh Investment Trust Plc

The Edinburgh Investment Trust Plc is a famous London listed investment trust.

Top Ten holdings are:-

1 Shell PLC – United Kingdom 7.26% of the fund
2 BAE Systems PLC – United Kingdom 5.32% of the fund
3 Unilever PLC – United Kingdom 5.03% of the fund
4 Tesco PLC – United Kingdom 5.02% of the fund
5 AstraZeneca PLC – United Kingdom 4.45% of the fund
6 NatWest Group PLC- United Kingdom 4.32% of the fund
7 Centrica PLC – United Kingdom 3.97% of the fund
8 HSBC Holdings PLC- United Kingdom 3.16% of the fund
9 Ashtead Group PLC- United Kingdom 3.10% of the fund
10 Anglo American PLC- United Kingdom 2.93% of the fund

top 10 holdings make up 44.55% of the total fund.

Managed by Liontrust Fund Partners LLP.

Courtesy of the London Stoc Exchange

HM Government Borrowings: June 2023

Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties.
Now we are in a post Covid 19 world. UK’s HM Government needs to fund many new demands. []

Another deficit month, thus to bridge the gap, needs to borrow on the bond market in June 2023, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is the PSNCR: The Public Sector Net Cash Requirement. There were “only” 6 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

28-Jun-2023 3¾% Treasury Gilt 2038 3,437.4990 Million
27-Jun-2023 0¾% Index-linked Treasury Gilt 2033 3 months 1,690.3500 Million
20-Jun-2023 4½% Treasury Gilt 2028 4,687.4990 Million
13-Jun-2023 3¼% Treasury Gilt 2033 3,500.0000 Million
07-Jun-2023 3½% Treasury Gilt 2025 4,076.1620 Million
06-Jun-2023 3¾% Treasury Gilt 2053 3,112.4990 Million

£3,437.4990 Million + £1,690.3500 Million + £4,687.4990 Million + £3,500.0000 Million + £4,076.1620 Million + £3,112.4990 Million = £20,504.009 Million

£20,504.009 Million = £20.504009 Billion

On another way of looking at it, is in the 30 days in June 2023, HM Government borrowed:- £683.46696666666666666666666666667 Million each day for the 31 days.

We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bonds maturing from 2025 to 2053. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……

Severn Trent July Dividend.

A few days ago, Severn Trent PLC paid out its July dividend.

64.09p a share.

The total number of voting rights in Severn Trent Plc is 252,265,839


252,265,839 x £0.6409 = £161,677,176.2151

That is £161 million paid to shareholders

Courtesy of The London Stock Exchange.

HSBC Holdings PLC

On Monday 26th June, a few weeks ago, the news broke, that HSBC Holdings PLC, decided to move to a new London HQ.

They are relocating to 81 Newgate Street, the former head office of the telecoms giant BT. the premier telecommunications giant, connecting for good.

Last week, HSBC paid out its June 2023 dividend.

$0.1 = (7.9378p) a share.

The total number of voting rights in HSBC Holdings plc is 19,950,090,268


19,950,090,268 x £0.079378 = 1,583,598,265.293304

That is £1.583 Billion paid to shareholders.

3i Infrastructure July 2023 dividend

Tomorrow, the UK Infrastructure investor, 3i Infrastructure pays out this July 2023 dividend.


3i Infrastructure plc (the “Company”) had 922,350,000 issued ordinary shares


922,350,000 x £0.05575 = £51,421,012.5

That is £51.421 million paid to shareholders

Shell June 2023 Dividend.

Last week, Shell PLC paid out to its shareholders its latest quarterly dividend.

$0.2875 = (22.99p)

Shell plc’s capital as at May 31, 2023, consists of 6,792,047,866 ordinary shares of €0.07 each. Shell plc holds no shares in Treasury.


6,792,047,866 x £0.2299 = £1,561,491,804.3934

That is £1561 Million = £1.561 Billion paid to shareholders

BP June 2023 Dividend.

Last week, BP PLC paid out to its shareholders its latest quarterly dividend.

$0.0661 = (5.3089p)

The total number of voting rights in BP p.l.c. is 17,550,941,554


17,550,941,554 x £0.053089 = £931,761,936.160306

That is £931 Million paid to shareholders

Direct Line Group.

One of the UK largest insurance companies, is the Direct Line Group.

Its origins are the from the ownership of Direct Line by the Royal Bank of Scotland Group, then spun out from the RBS group after the UK Government bailout in 2008.

Today it is a standalone PLC.

Motor Insurance £1,432.7m in premiums received
Home, Commercial, Rescue and other personal lines – ongoing operations £1,537.1m in premiums received

Total premium income £2,969.8m

What is interesting to see is what Direct Line does with its insurance premiums that it collects, and what investments it holds:-

Courtesy of Direct Line PLC

Debt (credit) assets in total (such as high quality bonds = debt) = £3,247.3 million
Total assets it holds = 4,917.0 million

thus (£3,247.3 million) / (4,917.0 million) = 66% of its assets are in bonds.

Only £13m of its investments are in shares (equities) = 0.26% of its assets are in shares

Investment income £124.0m on its investment portfolio of 4,917.0 million
That is a yield of 2.52%