Sector Breakdown

JPMorgan Fleming Japanese Smllr Cos
10 September 2002


                             Aug-02                                                        

                             Fleming Investment Trust Sector Breakdown                    
                             in % of Total Assets.
                                         
                            
                             JPMorgan Fleming Japanese Smaller Companies Investment Trust           

                             Cyclical Services                                       39.9  
                             General Industries                                      20.0  
                             Financials                                              12.0  
                             Assets / Liabilities                                     7.5   
                             Cyclical Consumer Goods                                  7.4   
                             Non-Cyclical Services                                    6.0   
                             Information Technology                                   5.6   
                             Basic Industries                                         0.9   
                             Non-Cyclical Consumer Goods                              0.7   
                             Resources                                                 -     
                             Total                                                  100.0 
                            


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