Interim Management Statement

RNS Number : 8676G

JPMorgan Emerging Mkts Invest Trust

12 May 2014

 



JPMorgan Emerging Markets Investment Trust plc

Interim Management Statement

For the three months ended 31st March 2014

This interim management statement relates to the quarter from 1st January 2014 to 31st March 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	4.3%	-1.5%	-12.7%	-6.8%	75.1%	289.2%
Benchmark	3.6%	-1.1%	-10.2%	-11.9%	69.0%	188.7%
Net asset value	5.3%	-0.5%	-11.6%	-5.1%	86.8%	271.0%

* Total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st March 2014	As at 9th May 2014
Total assets	£730.1m	£737.5m
Share price	537.5p	542.5p
Subscription Share price	14.0p	11.0p
Diluted net asset value*	607.3p	613.2p
Net asset value+	612.8p	619.1p
Discount to diluted net asset value	11.5%	11.5%
Gearing/(Net Cash)	(4.7)%	(4.6)%

Share prices shown are closing, bid

* Net asset value (cum income), assuming that all outstanding subscription shares have been converted into ordinary shares

+ Net asset value (cum income)

Source: JPMAM/Morningstar

Material events

On 24th February 2014, the Company announced the half year results for the six months ended 31st December 2013.

Material events since the period end

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

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Ordinary shares in issue as at 1st January 2014, excluding shares held in Treasury	119,259,129
Shares bought back into Treasury	110,000
Shares issued due to exercise of Subscription shares	330
Shares in issue as at 31st March 2014	119,149,459

Since 31st March 2014, the Company has issued, due to exercise of Subscription shares, a further 167 shares and has repurchased 30,000 shares into Treasury.

Portfolio Analyses

Top ten holdings as at 31st March 2014

Stock name	Country	Weight %
Housing Development Finance	India	3.8
Taiwan Semiconductor Manufacturing ADS	Taiwan	3.4
Hyundai Motor	South Korea	2.9
Tata Consultancy Services	India	2.8
International Personal Finance	UK	2.7
Magnit	Russia	2.5
AIA	Hong Kong	2.5
Ultrapar Participacoes	Brazil	2.4
Weg	Brazil	2.2
Infosys Technologies ADR	India	2.2

Sector analysis as at 31st March 2014

Sector	Portfolio %
Financials	28.5
Consumer Staples	20.3
Information Technology Industrials	14.6 10.6
Consumer Discretionary	9.3
Materials	4.3
Energy	3.8
Telecommunication Services	3.3
Health Care	0.6
Cash	4.7
Total	100.00

Geographical Analysis as at 31st March 2014

Country	Portfolio %
India	18.2
China/Hong Kong	15.9
Brazil	15.6
South Africa	11.3
Taiwan	7.0
Mexico	6.3
South Korea	4.5
Indonesia	4.3
Russia	3.7
UK	2.7
Turkey	2.3
Argentina	1.4
Others	2.1
Cash	4.7
Total	100.00

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

12th May 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 ASSET MANAGEMENT (UK) 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.jpmemergingmarkets.co.uk 

 

END

 

 

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