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Edinburgh US Tracker Trust plc

 

Objective

The objective of Edinburgh US Tracker Trust plc is to invest in a portfolio designed to track closely the S&P Composite Index, both in terms of capital and income.

Manager's Monthly Report

August 2008


Performance

The capital NAV of the Trust fell by 0.5% in July which was in line with the return from the S&P 500 Composite Index. Weaker than expected economic data, including the suggestion that the economy may have entered a recession late last year, kept equities under pressure. The dollar rose modestly. The advance report on Q2 GDP growth came in at +1.9% and included revisions back to 2005 – these changes suggest that a recession may have begun late last year. Q1 GDP growth was revised down modestly to +0.9%, but Q4 2007 GDP was revised sharply lower to -0.2% from +0.6%.

Activity

The changes to the constituents of the Index in July were AK Steel, MasterCard and DaVita replacing Countrywide Financial, Ace and Clear Channel respectively.

Strategy

The portfolio replicates in full the constituents and weightings of the S&P 500 Composite Index.


Source: Monthly Factsheet Aberdeen Asset Managers Limited

Fund Manager Interview - December 2007


David McCraw, Head of Index Trackers at Aberdeen, talks about the strategies that he and his team use to run Edinburgh US Tracker Trust plc.



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David McCraw