Interim Management Statement

RNS Number : 1969G

JPMorgan Chinese Inv Tst PLC

27 January 2010

 



JPMorgan Chinese Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 31st December 2009 

This interim management statement relates to the quarter from 1st October 2009 to 
31st December 2009 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	2.6%	10.2%	61.5%	53.2%	163.4%	133.5%
Net asset value**	5.3%	8.4%	50.9%	51.0%	153.8%	93.0%
Benchmark	4.9%	6.8%	48.4%	40.3%	110.2%	73.9%

* Total return with net dividends reinvested

** Capital only, diluted for Subscription shares. 

Source: J.P. Morgan/Morningstar

Financial position 

	As at 31st December 2009	As at 25th January 2010
Total assets	£118.0m	£111.4m
Share price*	148.25p	129.50p
Net asset value **	146.57p	138.65p
Premium/(Discount)	1.07%	(8.46%)
Gearing Subscription share price	103.3% 28.5p	104.3% 21.25p

* Share prices shown are closing bid

** Capital only, diluted for Subscription shares.

Source: J.P. Morgan/Morningstar

Material events 

AGM

At the Company's Annual General Meeting ('AGM') held on 15th December 2009, all of the resolutions put to shareholders were passed, including the following items of Special Business which:

• allow the Company to allot new Ordinary shares up to an aggregate nominal amount of £1,888,537 representing approximately 10% of the Company's issued Ordinary share capital (including shares held in Treasury);

• allow the Company to disapply pre-emption rights on allotment of relevant securities; and

• allow the Company to make market purchases of up to 11,210,640 Ordinary shares and 2,107,136 Subscription shares, representing 14.99% of the Company's issued share capital (excluding shares held in Treasury);

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Shares in issue as at 1st October 2009	75,541,461
Shares held in Treasury at 1st October 2009	2,904,000
Shares bought back and cancelled	-
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	500,000 - 2,904,000
Shares in issue at 31st December 2009	76,041,461
Shares held in Treasury at 31st December 2009	-

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

	Subscription Shares of 1p
Shares in issue as at 1st October 2009	14,056,947
Shares exercised	-
Shares repurchased	-
As at 31st December 2009	14,056,947

Portfolio Analyses 

Top ten holdings as at 31st December 2009

Stock name	Sector	Portfolio %
China Mobile	Telecommunication Services	4.8
JF China Pioneer 'A' Share Fund	Investment Companies	4.5
China Construction Bank 'H'	Financials	4.2
Taiwan Semiconductor	Information Technology	4.1
Industrial & Commercial Bank of China 'H'	Financials	4.1
China Life Insurance 'H'	Financials	3.9
Hon Hai Precision industry	Information Technology	3.7
CNOOC	Energy	3.4
Bank of China	Financials	3.2
China Shenhua Energy 'H'	Energy	2.8

Sector breakdown as at 31st December 2009

Sector	Portfolio %
Financials	43.6
Information Technology	21.6
Energy	8.6
Materials	6.6
Industrials	6.4
Telecommunication Services	4.8
Consumer Discretionary	3.7
Consumer Staples	2.9
Utilities	0.9
Cash	0.9

By order of the Board

Christopher Legg, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

27th January 2010

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

 

 

IMSFDLFLBFFBBBQ