Sector Breakdown

JPMorgan Fleming Japanese Smllr Cos
14 January 2003

Dec-02                                                               

JP Morgan Fleming Investment Trust                                   
Sector Breakdowns in % of Total Assets                               

JPMorgan Fleming Japanese Smaller Companies Investment Trust         
Cyclical Services                                                34.9
General Industries                                               19.6
Cash                                                             11.2
Cyclical Consumer Goods                                           9.1
Information Technology                                            6.9
Financials                                                        5.9
Basic Industries                                                  4.5
Non-Cyclical Services                                             4.1
Non-Cyclical Consumer Goods                                       3.8
Resources                                                           -
Total                                                           100.0



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