Interim Management Statement

RNS Number : 2410D

JPMorgan Smaller Cos IT PLC

27 November 2009

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 31st October 2009

This interim management statement relates to the quarter from 1st August 2009 to 31st October 2009 and contains information that covers that period, unless otherwise stated.  

Investment objective

Capital and income growth from a diversified portfolio of smaller UK companies.

Financial performance - Cumulative Total Return *

	1 Month	3 Months	1 Year	3 Years	5 Years	10 Years
Share price	-3.9%	28.4%	54.0%	-21.6%	64.5%	103.2%
Net asset value	-2.1%	24.5%	53.3%	-14.7%	56.7%	102.9%
Benchmark	-3.7%	21.1%	52.2%	-23.9%	8.3%	24.1%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 31st  October 2009
Total assets	£97.9m
Share price	371.0p
Net asset value per share	453.5p
Discount	18.2%
Gearing	106.8%

Share prices shown are closing bid

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

Source: JPMAM/Fundamental Data

Material events

At the Company's Annual General Meeting held today, all of the resolutions put to shareholders were passed, including Special Resolutions which allow the Company to make market purchases of up to 14.99% of its issued ordinary shares, to disapply pre-emption rights on the allotment of new ordinary shares and to adopt new Articles of Association.

A final dividend of 8p per share will be paid on 11th December 2009 to shareholders on the register at the close of business on 13th November 2009.

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Shares in issue as at 1st August 2009	19,612,222
Shares bought back and cancelled	-
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- - -
As at 31st October 2009	19,612,222

During the quarter, the Company made no market purchases of its own shares. The Company has not issued any shares in this financial quarter.

Portfolio Analyses

Top ten holdings as at 31st October 2009:

Stock name	Sector	Weight %
Unite Intec Delta Quintain Estates & Development Spice Fenner Pace Healthcare Locums International Personal Finance Senior	Financials Technology Industrials Financials Industrials Industrials Technology Industrials Financials Industrials	3.6 3.5 2.8 2.4 2.2 2.1 2.0 1.9 1.8 1.8

Sector breakdown as at 31st October 2009:

Sector	Portfolio %
Industrials	36.8
Financials	19.1
Consumer Services	12.7
Technology	11.8
Consumer Goods	5.3
Basic Materials	4.4
Health Care	3.7
Oil & Gas	3.4
Telecommunications	1.2
Utilities	0.7
Cash	0.9
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

27th November 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, fact sheets and portfolio information can be found at www.jpmsmallercompanies.co.uk. 

 

END

 

 

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