British Assets Trust plc is a United Kingdom-based investment trust. The Company�s investment objective is to achieve a total return in excess of a composite index, weighted as to 80% Financial Times and the London Stock Exchange (FTSE) All-Share Index and 20% FTSE World Index, by investing principally in a diversified international portfolio of equities and equity-related securities. The Company invests in sectors, such as oil and gas, basic materials, industrials, consumer goods, health care, consumer services, telecommunications, utilities, financials and technology. As of September 30, 2012, the Company�s investments portfolio included BP, Royal Dutch Shell, GlaxoSmithKline, BHP Billiton, HSBC, Vodafone, British American Tobacco, Standard Chartered, AstraZeneca and Centrica. It is managed by F&C Investment Business Limited, a wholly owned subsidiary of F&C Asset Management plc.