Interim Management Statement

RNS Number : 1893S

JPMorgan Overseas IT PLC

13 May 2009

 



JPMorgan Overseas Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 31st March 2009 

This interim management statement relates to the quarter from 1st January 2009 to 31st March 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	8.4%	-3.7%	-18.8%	-22.1%	27.6%	21.2%
Net asset value	10.2%	-4.8%	-18.5%	-22.6%	12.3%	10.1%
Benchmark	7.6%	-10.4%	-21.2%	-23.2%	6.2%	-7.4%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 31st March 2009	As at 8th May 2009
Total assets	£131.3m	£153.9m
Share price	453.5p	539.5p
Net asset value  Discount** Gearing	487.2p 6.9% 105.8%	569.6p 5.3% 106.1%

Share prices shown are closing bid

Source: JPMAM/Fundamental Data

** The Company aims to maintain an average discount of around 5%. Average over 3 months was 6.2%. On 30th April 2009, the Board agreed that any shares repurchased under this policy should be held in Treasury. Any shares held in Treasury will only be re-issued at a premium to net asset value.

Changes to share capital 

	Issued Shares
As at 1st January 2009	26,408,348
Shares bought back and cancelled	199,150
Shares bought back into Treasury  Shares cancelled from Treasury  Shares issued	- - -
As at 31st March 2009	26,209,198

During the quarter, the Company made market purchases of 199,150 shares for cancellation, representing 0.75% of the shares outstanding at the beginning of the financial year.

Portfolio Analyses 

Ten largest holdings as at 31st March 2009***

Stock name	Sector	Weight %
InterOil	Energy	3.3
Corning	Information Technology	2.9
JPMorgan Emerging Markets Inv Trust	Investment Companies	2.8
Bayer	Health Care	2.5
Capitaland	Financials	2.5
HengAn International	Consumer Staples	2.4
Zurich Financial Services	Financials	2.3
Banco Santander	Financials	2.2
Cisco Systems	Information Technology	2.1
Roche Holdings	Health Care	2.0

*** Excluding liquidity fund holdings which are held as an alternative to cash.

Portfolio analysis as at 31st March 2009

Sector	Portfolio %
Financials	25.0
Consumer Discretionary	16.9
Information Technology	16.4
Health Care	12.1
Industrials	11.2
Consumer Staples	9.6
Energy	7.1
Materials	5.6
Utilities	1.5
Cash	-5.4
Total	100.0

Geographical	Portfolio %
North America	35.0
Continental Europe	26.7
United Kingdom	14.9
Developed Asia	12.7
Japan	9.7
Emerging Markets	6.4
Cash	-5.4
Total	100.0

  By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

13th May 2009 

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, factsheets and portfolio information can be found at www.jpmoverseas.co.uk

 

END

 

 

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