Interim Management Statement

RNS Number : 7847G

JPMorgan US Discovery IT PLC

27 October 2008

 



JPMorgan US Discovery Investment Trust plc

(the 'Company')

Interim Management Statement

For the three months ended 30th September 2008 

This interim management statement relates to the quarter from 1st July 2008 to 30th September 2008 and contains information that covers that period, unless otherwise stated.  

Financial performance - Cumulative Performance *

	1 Month	3 Months	1 Year	3 Years	5 Years	10 Years
Share price	-10.3%	1.7%	-22.2%	-16.6%	11.4%	141.4%
Net asset value	-10.0%	3.7%	-19.9%	-21.2%	8.2%	98.5%
Benchmark	-5.9%	10.3%	-2.5%	4.0%	36.0%	96.5%

* Total return with net dividends (if any) reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 30th September 2008	As at 24th October  2008
Total assets	£44.4m	£34.1m
Share price	648.5p	497.5p
Net asset value	721.2p	555.9p
Discount	10.1%	10.5%
Gearing	100.4%	95.8%

Share prices shown are closing bid

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

Source: JPMAM/Fundamental Data

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Shares in issue as at 1st July 2008	6,591,453
Shares bought back and cancelled	141,086
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury Shares cancelled from Treasury	- - - 85,000
As at 30th September 2008	6,365,367

During the quarter, the Company cancelled 85,000 of its own shares previously held in Treasury, representing 1.0% of the shares outstanding at the beginning of the financial year, at an average discount of 9.05%. The Company purchased a further 141,086 shares for cancellation representing 1.7% of the shares outstanding at the beginning of the financial year. The Company has not issued any shares from treasury in this financial quarter.

Portfolio

Top ten holdings as at 30th September 2008

Stock name	Sector	Weight %
Gaylord Entertainment  Imax  Alloy  PDF Solutions  Summer Infant  Enzo Biochem  Spark Networks  Genoptix Callidus Software  Ashworth	Consumer Discretionary  Consumer Discretionary Consumer Discretionary Information Technology  Consumer Staples  Health Care Consumer Discretionary Health Care  Information Technology  Consumer Discretionary		3.2 3.0 2.8 2.7 2.6 2.6 2.5 2.5 2.4 2.4

Sector breakdown as at 30th September 2008

Consumer Discretionary Information Technology  Health Care  Industrials  Financials  Consumer Staples  Energy  Telecommunications Services  Materials  Utilities  Cash  Total

Portfolio % 26.4 25.7 17.6 11.5 8.5 6.4 2.6 1.1 0.8 0.0 -0.6 100.0

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary - Telephone [phone]

27th October 2008

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.jpmusdiscovery.co.uk 

 

END

 

 

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