Portfolio Update

JPMorgan Flem Russian Secs PLC
01 November 2005


31- October- 05
JPMorgan Investment Trust
Ten Largest Investments
in % of Total Assets.

                                                                                                                        
JPMorgan Fleming Russian Securities
Lukoil ADR                                                                      15.2
Surgutneftegaz                                                                  14.0
Sberbank Rossii                                                                 12.0
JSC MMC Norilsk Nickel                                                          10.5
Mobile Telesystems ADS                                                          10.0
Vimpel Communications ADR                                                        8.6
RBC information                                                                  4.9
Open Investments                                                                 3.4
Rostelcom ADR                                                                    3.2
OAO Pharmacy Chain 36.6                                                          3.2
                                                                                85.0





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