Interim Management Statement

RNS Number : 5976C

JPMorgan US Discovery IT PLC

16 November 2009

 



JPMorgan US Discovery Investment Trust plc

(the 'Company')

Interim Management Statement

For the three months ended 30th September 2009

This interim management statement relates to the quarter from 1st July 2009 to 30th September 2009 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	12.0%	20.4%	5.3%	-11.7%	14.7%	78.9%
Net asset value	7.7%	19.1%	4.5%	-13.4%	2.6%	61.3%
Benchmark	7.7%	22.7%	0.4%	0.6%	25.6%	61.1%

* Total return with net dividends (if any) reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 30th September  2009	As at 13th November  2009
Total assets	£42.8m	£39.0m
Share price	682.5p	625.0p
Net asset value	753.6p	692.5p
Discount	9.4%	9.8%
Gearing	97.1%	95.8%

Share prices shown are closing bid

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

Source: JPMAM/Fundamental Data

Material events 

There have been no material events during the quarter.

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Shares in issue as at 1st July 2009	5,935,367
Shares cancelled from Treasury	54,000
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- 53,500 -
As at 30th September 2009	5,881,367

During the quarter, the Company made market purchases of 53,500 of its own shares into Treasury. The Company has purchased a further 33,400 shares into Treasury since the quarter end. The Company did not issue any shares from Treasury in the quarter or since the quarter end.

Portfolio

Ten largest holdings as at 30th September 2009

Stock name	Sector	Weight %
ProAssurance	Financials	2.3
Deltek	Information Technology	2.2
First Service	Consumer Discretionary	2.1
Papa Johns	Consumer Discretionary	2.0
American Physicians Service Group	Health Care	1.9
PharMerica	Health Care	1.8
First Financial Bancorp	Financials	1.8
Monarch Casino & Resort	Consumer Discretionary	1.8
Approach Resources	Energy	1.8
OptionsXpress	Financials	1.7

Sector breakdown as at 30th September 2009

	Portfolio %
Financials	20.4
Information Technology	18.7
Consumer Discretionary	18.3
Health Care	14.8
Industrials	11.6
Telecommunication Services	4.9
Energy	4.6
Consumer Staples	2.6
Utilities	2.2
Materials	1.7
Cash	0.2
	100.0

By order of the Board

Jonathan Latter, for and on behalf of

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

16th November 2009

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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