Hastings Income Trust
Performance
Hastings is pleased to advise that HIT continued to perform in line with expectations during the year ended 30 June 2007.
The latest Unit Price for HIT can be obtained from the HIT Investor Centre.
Portfolio update
The primary investment of HIT is units in the Hastings Yield Fund. The proceeds of the April 2004, December 2005 and June 2006 redemption of units in the Hastings Yield Fund, together with the proceeds of distribution reinvestment have been invested in other authorised investments in accordance with the Constitution of HIT.
At 30 June 2007, HIT comprised the following investments:
| Investment | Type of security | Investment | Portfolio Weighting |
| Hastings Yield Fund | Units | 34.0 | 85.6 |
| Macquarie Airports | Tradeable Interest-bearing Convertible to Equity Trust Securities | 2.0 | 5.0 |
| Santos | Franked Unsecured Equity Listed Securities | 2.1 | 5.3 |
| St George Bank | Subordinated Adjustable Income Non-Refundable Tier 1 Securities | 1.5 | 3.8 |
| Cash | Cash | 0.1 | 0.3 |
| Total Investment |
| 39.7 | 100.0 |
Subsequent to 30 June 2007, all ASX listed hybrid securities were sold to fund the June 2007 redemption offer. The sale disposed of hybrid securities in:
- Macquarie Airports;
- Santos; and
- St George Bank.
Returns
Returns generated by unitholders in HIT comprise two components: firstly, the periodic distribution; and secondly, the movement in the net asset value (NAV) of units in HIT during the return period.
Returns for the period ended 30 June 2007 are as follows:
|
| 6 months | 1 year | 2 years | 3 years | Since Inception (1) |
| Distribution | 3.79 | 5.98 | 6.65 | 6.67 | 7.25 |
| Movement in NAV of units | 0.73 | 2.36 | 1.32 | 1.06 | 1.26 |
| Total return | 4.52 | 8.34 | 7.97 | 7.73 | 8.51 |
(1) HIT commenced on 21 October 2003.
In addition to the returns outlined above, imputation and withholding tax credits are being consistently generated and distributed to unitholders.
DISTRIBUTION HISTORY
Information on distribution history can be obtained from the HIT Investor Centre.
