Interim Management Statement

RNS Number : 3491A

JPMorgan Chinese Inv Tst PLC

31 July 2008

 



JPMorgan Chinese Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 30th June 2008 

This interim management statement relates to the quarter from 1st April 2008 to 30th June 2008 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	-17.5%	-5.9%	-4.5%	61.9%	121.2%	194.7%
Net asset value	-13.4%	-7.2%	-4.4%	70.5%	149.8%	181.1%
Benchmark	-12.2%	-6.2%	-1.3%	47.7%	117.3%	103.2%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 30th June 2008	As at 30th July 2008
Total assets	£86.6m	£83.6m
Share price	100.0p	103.0p
Net asset value	111.5p	111.0p
Discount	10.3%	7.2%
Gearing	104.7%	102.9%

Share prices shown are closing bid

Net asset values are shown with debt at fair value

Source: JPMAM/Fundamental Data

Material events 

At a General Meeting of the Company held on 14th April 2008 resolutions were passed approving the Bonus Issue of Subscription Shares as described in the Company's Prospectus dated 18th March 2008, renewing the Company's buy-back authority which permits the Company under certain circumstances to buy back up to 14.99 per cent of its issued Ordinary Share Capital, and approving the continuation of the Company in its current form until the end of the Annual General Meeting to be held in 2013.

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Shares in issue as at 1st April 2008	75,462,001
Shares bought back and cancelled	-
Shares issued – new Shares bought back into Treasury Shares issued – from Treasury	- - -
As at 30th June 2008	75,462,001

Of the 75,462,001 shares in issue, 4,779,900 shares are held in Treasury.  The Company has not cancelled or issued any shares in this financial quarter.

Portfolio Analyses 

Top ten holdings as at 30th June 2008 

Stock name

Sector

Weight %

China Mobile                                                 Telecommunication Services        7.2

JF China Pioneer 'A' Share Fund                    Financials                                     7.1

Taiwan Semiconductor                                   Information Technology              5.1

China Construction Bank 'H'                          Financials                                    5.0

Cheung Kong                                                  Financials                                    3.7 

CNOOC                                                         Energy                                         3.4

China Life Insurance                                       Financials                                    3.2

China Merchant Bank 'H'                                Financials                                    3.1

China Petroleum & Chemical                         Energy                                         3.0

Hon Hai Precision                                          Information Technology              2.8

Sector breakdown as at 30th June 2008

Sector

Portfolio %

Financials                                                              41.8
Information Technology                                        17.4
Telecommunication Services                                 11.7
Energy                                                                   8.6
Consumer Discretionary                                        5.6
Materials                                                               4.4
Industrials                                                             3.2
Utilities                                                                 2.4
Other                                                                    2.0
Consumer Staples                                                 0.6
Cash                                                                     2.3
Total                                                                    100.0

By order of the Board

Lucy Dina, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

31st July 2008 

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

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. 

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

 

END

 

 

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