Eclectic Inv Tst PLC - Interim Management Statement

RNS Number:4819S
Eclectic Investment Trust PLC
17 April 2008

ECLECTIC INVESTMENT TRUST PLC

Interim Management Statement

for the period 1 December 2007 to 31 March 2008 (unaudited)

Investment Objective

The investment objective of Eclectic Investment Trust plc (the "Company") is to
maximise shareholder value by investing in a portfolio of securities anywhere in
the world.

Interim Management Review

Performance

In the period since the interim date, 30 November 2007, the net asset value
declined by 18.3% from 175.75p to 143.58p. During the period, the FTSE All
Share index declined by 17% and the Company's benchmark, the FTSE Actuaries
Government Securities UK Gilts 5 - 10 years, declined by 10.1%.

The underperformance of our NAV against the benchmark arises largely from the
relatively greater fall in the value of smaller capitalised Australasian stocks
in the period, reflected in the fall in the ASX Small Caps Index of 18.6%.
Since the end of the period, some recovery in the Company's investments in these
markets has already been seen.

Portfolio

During the period, significant further investments were made in Austral Pacific
and in Aurora Investment Trust, a UK listed investment trust focusing on UK
listed investments and trading at a discount to NAV. A new investment was made
in Midas Capital (formerly Iimia). The investment in Global Equity Market
Securities matured and the investments in Independent News & Media and Global
Mining Investments were realised during the period.

Hedging

The Company has established a substantial put option spread position in the
Standard & Poor's 500 Index to provide protection against general equity market
falls.

Financing

Net borrowings at 31 March 2008 were £1.4m, comprising cash of £5.3m and bank
debt of £6.7m. Purchases of investments in the period totalled £8.6m and sales
of £8.0m were made at a book profit of £0.7m. Gross assets less current
liabilities (excluding bank debt) fell to £32.9m (£37.3m at 30 November 2007).

Other

The ordinary share price decreased by 10.8% during the period, closing at 149p,
a premium of 3.8% to NAV per ordinary share of 143.58p at 31 March 2008.

There were no other material events or transactions in the period.

Outlook

The uncertainty in world financial and investment markets looks set to continue
at least in the short to medium term. We will continue to seek attractive
opportunities for investment and to protect the portfolio from downside risk
where possible.

Ten Largest Holdings

% of Gross Assets

Trust Company 22.15%
Austral Pacific 9.79%
Societe des Bains de Mer 8.96%
The Law Debenture Corporation 6.44%
Aurora Investment Trust 5.02%
Midas Capital 3.38%
Argus Group 3.2%
Intellect 3.06%
eBet 2.96%
DTI Group 2.79%

Total ten largest holdings 67.75%

Year End 31 May

Investment Manager

The Investment Manager of the Company is Ingot Capital Management Pty Limited.

Directors

A F Bushell - Chairman
P I Burrows
B C Hervey
W J McLeland

Secretary and Administrators

Phoenix Administration Services Limited

Springfield Lodge, Colchester Road, Chelmsford CM2 5PW

Tel: 01245 398950 Fax: 01245 398551

Other information

The Company's shares are listed on the London Stock Exchange.

Further information is available from the Company's website
www.eclectictrust.com.

17 April 2008

This information is provided by RNS
The company news service from the London Stock Exchange
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