Asset Analysis

Fleming Japanese Smaller Cos IT PLC
5 November 2001



ASSET ANALYSIS AS AT 31st October 2001


THE FLEMING JAPANESE SMALLER COMPANIES INVESTMENT TRUST plc

                                                     % funds as at 31/10/01
UK                                                                            0
Japan 1st section                                                            59
Japan 2nd section                                                             4
Japan OTC/regional                                                           22
Japan bonds                                                                   0
Cash and non Japanese fixed interest                                         15
                                                                            100