Interim Management Statement

RNS Number : 7805G

JPMorgan Japanese Inv. Trust PLC

05 February 2010

 



JPMorgan Japanese Investment Trust plc

(the 'Company')

Interim Management Statement

For the three months ended 31^st December 2009

This interim management statement relates to the quarter from 1st October 2009 to

31^st December 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	10.3%	-0.6%	5.2%	-33.7%	-15.7%	-63.8%
Net asset value	6.0%	0.0%	-5.8%	-29.8%	-15.7%	-61.5%
Benchmark	1.6%	-5.0%	-6.8%	-12.2%	10.7%	-35.5%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position

	As at 31st December 2009	As at 4th February 2010
Total assets	£291.3m	£312.0m
Share price	153.0p	155.0p
Net asset value	180.2p	193.2p
Discount	15.1%	19.8%
Gearing	112.2%	108.5%

Share prices shown are closing mid

Net asset values are shown excluding income with debt at par value

Source: JPMAM/Fundamental Data

Material events

Annual General Meeting

At the Company's Annual General Meeting ('AGM') held on 18th December 2008, resolutions were passed, including Special Resolutions which would allow the Company to allot relevant securities up to an aggregate nominal amount of £2,172,423 or, if less 5% of the total ordinary share capital, to disapply pre-emption rights on such allotments, to make market purchases of up to 26,082,887 of its ordinary shares, representing 14.99% of the Company's issued share capital, and to adopt new Articles of Association.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st October 2008	174,001,919
Shares bought back and cancelled	2,645653
Shares issued - new	-
Shares bought back into treasury	-
Shares issued - from treasury	-
As at 31st December 2008	171,356,266

The Company bought back 2,645,653 ordinary shares for cancellation during the financial quarter.

Portfolio

Top ten holdings as at 31^st December 2009

Stock name	Sector	Weight %
Nippon Telegraph & Telephone	Information & Communication		5.8
Honda Motor	Transportation Equipment		4.2
Mitsui & Co	Wholesale Trade		3.5
JFE	Iron & Steel		3.3
Mitsubishi UFJ Financial Group	Banks		3.1
Asahi Glass	Glass & Ceramics Products		2.9
KDDI	Information and Communication		2.9
Nomura	Securities and Commodity Futures		2.9
Toyota Motor	Transportation Equipment		2.9
Mitsui O.S.K Lines	Marine Transportation		2.8

Sector Breakdown as at 31^st December 2009

	Portfolio %
Transportation Equipment	16.0
Other	13.5
Electric Appliances	13.4
Information & Communication	12.3
Wholesale Trade	11.3
Chemicals	7.8
Iron & Steel	6.1
Banks	5.2
Glass & Ceramics Products	4.9
Securities & Commodity Futures	4.8
Pharmaceutical	4.2
Foods	2.8
Marine Transportation	2.8
Other Financing Business	2.6
Nonferrous Metals	2.4
Retail Trade	2.1
Cash	-12.2
Total	100.0

By order of the Board

Andrew Norman, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

5th February 2010

020 7742 6000

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

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.jpmjapanese.co.uk 

 

END

 

 

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