Interim Management Statement

RNS Number : 3764N

JPMorgan Asian Investment Tst PLC

25 July 2014

 

JPMorgan Asian Investment Trust plc

Interim Management Statement (unaudited)

For the three months ended 30th June 2014

This interim management statement relates to the quarter from 1st April 2014 to 30th June 2014 and contains information that covers that period, unless otherwise stated. 

Financial performance - Cumulative Total Return *

	1 month	3 months	1 Year	3 Years	5 Years	10 Years
Share price	-0.6%	2.9%	1.6%	-10.4%	36.0%	169.6%
Benchmark	0.4%	4.6%	3.2%	3.0%	62.2%	218.5%
Net asset value	0.3%	2.9%	0.4%	-8.0%	39.6%	165.0%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th   June 2014	As at 23rd July 2014
Total assets	£229.6m	£236.9m
Share price	204.8p	210.0p
Net asset value	229.8p	237.5p
Discount	-10.9%	-11.6%
Gearing	1.2%	1.5%

Share prices shown are closing bid

Net asset value (cum income)

Source: JPMAM/Morningstar

Material Events

On 23^rd May 2014, the Company's results for the six months ended 31^st March 2014 were announced.

On 20^th June 2014, Andrew Sykes stepped down from the Board and Ronald Gould was appointed as acting Audit Committee Chairman.

On 10^th April 2014, the Company announced that its full portfolio as at 28th February 2014 was available on its website and that the Company would be publishing the historic portfolio information, as at the end of the previous month, on the Company's website on a monthly basis going forward.

The final exercise date for the Subscription shares was on 31^st March 2014. The rights of the remaining 7,233,546 Subscription shares lapsed on 14^th April 2014.

Material events post 30th June 2014

On 1st July 2014, the Company entered into arrangements to ensure compliance with the Alternative Investment Fund Managers Directive ("AIFMD").

Material transactions

Changes to share capital

	Ordinary shares of 25p
Ordinary shares in issue on 1st April 2014	95,543,244
Shares bought back and cancelled	-
Shares issued due to exercise of Subscription shares	3,749
As at 30th June 2014	95,546,993

Since the period end and up to the date of this announcement, the Company has not bought back or issued any shares.

Portfolio Analyses

Top ten holdings as at 30th June 2014

Stock name	Weight %
Samsung Electronics	5.2
Taiwan Semiconductor  Tencent	4.5 4.4
AIA	2.8
POSCO KB Financial	2.6 2.4
HDFC Bank	2.0
DBS Infosys Technologies	1.9 1.9
China Construction Bank	1.9

Sector breakdown as at 30th June 2014

	Portfolio %
Financials	32.7
Information Technology	23.2
Consumer Discretionary	10.8
Materials	7.7
Energy	6.3
Industrials	6.1
Utilities	4.3
Consumer Staples	4.1
Health Care	1.0
Telecommunication Services Cash	0.6 3.2
Total	100.0

Geographical Breakdown as at 30th June 2014

	Portfolio %
China	28.7
South Korea	19.5
Taiwan	15.2
Hong Kong	11.0
India	11.0
Thailand	3.5
Singapore	3.0
Malaysia	2.0
Indonesia Philippines Cash	2.0 0.9 3.2
Total	100.0

By order of the Board

Alison Vincent, for and on behalf of

JPMorgan Funds Limited, Secretary

25th July 2014

Registered office: 60 Victoria Embankment, London EC4Y 0JP

Telephone: [phone]

This interim management statement has been prepared solely to provide information to meet the requirements of the UK Listing Authority's Disclosure and Transparency Rules.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

JPMORGAN FUNDS LIMITED

ENDS

Please note that up to date information on the Company, including daily NAV and share prices, factsheets and portfolio information can be found at www.jpmasian.co.uk

 

END

 

 

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