Annual Financial Report
Jupiter Green Investment trust Plc
Annual Financial Report for the year ended 31 March 2011
The following is an extract from the Company's Annual Report and Accounts for
the year ended 31 March 2011. The Annual Report and Accounts has been submitted
to the National Storage Mechanism and will shortly be available at
www.hemscott.com/nsm.do.
The Annual Report and Accounts will shortly be available to be viewed on or
downloaded from the Company's website at www.jupiteronline.co.uk.
CHAIRMAN'S STATEMENT
It is with pleasure that I present your Company's report and accounts for the
year ended 31 March 2011.
During the year under review your Company's total assets less current
liabilities, adjusted for share cancellations and warrant conversions, increased
by 13.0 per cent. to £41,085,000. This compares with an increase in the
Company's benchmark index, the MSCI World Small Cap Index, of 16.2 per cent.
over the same period.
The diluted Net Asset Value of the Company's Ordinary shares, which is the Net
Asset Value that would apply to the Ordinary shares in the event that all
Warrants in issue were to be exercised, rose by 10.4 per cent. to 116.47p during
the period under review, whilst their middle market price rose by 6.6 per cent.
to 97.5p.
Dividend
The Board has not set an objective of a specific portfolio yield for the Company
and the level of such yield is expected to vary with the sectors and
geographical regions to which the Company's portfolio is exposed at any given
time. However, substantially all distributable revenues that are generated from
the Company's investment portfolio are expected to be paid out in the form of
annual dividends.
For the first time in your Company's life, we have recently declared an interim
dividend of 0.40p per share in respect of the year ended 31 March 2011. In order
to retain our status as an investment trust under section 1158 of the
Corporation Taxes Act 2010 we are not permitted to retain more than 15 per cent.
of eligible investment income.
Investment Focus
At the time of the Company's launch in 2006 the Investment Manager identified
six green themes for investment. Over a period of time there have been many
changes in the global green investment landscape and the Investment Manager has
recently recommended that these themes could usefully be restated in order to
reflect the three macro environmental trends which continue to dominate the
Company's investment portfolio. Specifically, the Company looks to invest across
three key areas: 1) infrastructure, 2) resource efficiency and 3) demographics.
The identification of these areas is predicated on the belief that investment in
environmental solutions businesses is no longer a niche enterprise, but is
rather about investment in the long-term structural growth of the global
economy.
It is important for investors in the Company to note that the identification of
these key areas of investment represents a change in the way the fund manager
communicates the green investment opportunity. There has been no change in the
Company's investment policy or in the types of businesses the Investment Manager
selects for the Company or in his long-term stock focused investment approach.
The investment advisory agreement with Winslow Management Company LLC was
terminated with effect from 1 July 2010.
Share Buy Back Powers & Discount Management
The Board considers that it is not in Shareholders' interest for the Ordinary
shares to trade at a significant discount to their prevailing estimated Net
Asset Value.
The Board further believes that the most effective means of minimising any
discount at which its Ordinary shares may trade is for the Company to deliver
strong, consistent, long-term performance from the Company's investment
portfolio in both absolute and relative terms. However, wider market conditions
and other considerations will affect the rating of the Ordinary shares in the
short-term and the Board is, therefore, committed to seeking to limit the level
and volatility of the discount to Net Asset Value at which the Ordinary shares
may trade by seeking to repurchase Ordinary shares when the Investment Manager
considers it to be in the interests of Shareholders to do so.
The Board does not consider share repurchases to be a long-term panacea to
discount levels unless they are supported by strong relative and absolute
performance. An inflexible buy back policy can result in a rapid reduction in
the size of an investment trust. Other considerations, such as the impact of
share repurchases on total expense ratios and on liquidity for remaining
Shareholders would influence the Company's policy from time to time. Ultimately
the Board would prefer the Company's Ordinary shares to be acquired by willing
third party investors ahead of any demand from the Company to buy in for
cancellation or treasury.
Nevertheless, the Board intends to continue to implement its discount management
policy. Any purchases will be made only through the market at prices below the
prevailing estimated Net Asset Value per Ordinary share and in circumstances
where the Directors believe that such purchases will enhance Shareholder value
and assist in narrowing any discount to Net Asset Value at which the Ordinary
shares trade.
To this end, the Company bought back for treasury 242,949 shares and 6,529,070
shares for cancellation at discounts that varied between 14 per cent. and 19 per
cent. during the year under review. This represents 14.9 per cent. of the
Company's share capital at 31 March 2010.
At the AGM your Board will seek to renew its powers to buy back shares for
cancellation or holding in treasury. This can be a useful tool for enhancing the
Net Asset Value of the Ordinary shares.
As at 22 June 2011 the middle market price of the Company's Ordinary shares
represented a 12.89 per cent. discount to their net asset value.
AIFM Directive
This Directive, which emanates from the European Commission, will create new
obligations - and costs - for investment trusts. Fortunately the Commission's
initial proposals, which entailed an extra layer of
management and a requirement that shareholders should receive NAV when they sold
as opposed to the prevailing share price (in effect, therefore, turning them
into unit trusts and removing the great advantages of their present structure)
appear to have been considerably watered down, thanks in no small part to the
valiant efforts of the Association of Investment Companies, our trade body. We
await the final version and may be in a better position to comment by the time
of our AGM.
Retail Distribution Review
By 2012, the Retail Distribution Review should have ended the so-called
"commission bias" whereby independent investment advisers (IFAs) must not
restrict their recommendations to those investment products (such as unit
trusts) which reward them with commission. Hitherto this practice has militated
against investment trusts which, being listed companies, are unable to offer
this inducement. Time will tell how the new arrangements will work in practice
but, other things being equal, the new regime should be beneficial to investment
trusts in general.
Outlook
I recommend the Manager's Review in which he discusses the good performance of
the Company's US holdings and the emerging growth opportunities for the Company
in the Far East. Against these, he highlights the difficulties that were faced
by the wind sector due to policy uncertainty in the US and fiscal problems in
Europe.
Against a backdrop of economic uncertainty, global equity markets made
reasonable progress. This was driven by improvements in corporate profitability
in the West as well as further fiscal and monetary stimulus to shore up economic
growth. However, trading was far from smooth. At various points during the year,
market conditions were volatile as investors assessed the risks associated with
sovereign debt problems in southern Europe and Ireland, accelerating inflation
in emerging economies and political unrest in North Africa and the Middle East.
While the Company had a positive year, the conditions were most favourable for
mining and oil & gas companies which are not held due to the Company's
environmental focus. This proved an impediment to the Company's performance
against its generalist benchmark.
Overall, it has been a compelling year for green investment. There has been a
pronounced change in the investment landscape. China reinforced its growing
importance in this area with a raft of strong environmentally-led policies as
part of its 12th Five Year Plan. Meanwhile, the rhetoric among politicians in
the West has shifted to the economic rather than environmental benefits of green
policies. A swing back to the Republicans in the US mid-term elections, for
example, has seen issues of energy security and the potential jobs created
become more prominent in US climate change debate. Outlining his vision for
America's future energy security in January, President Obama suggested that as
part of a national energy policy, 80 per cent. of US energy could be supplied by
clean sources by 2035. His ambition is couched in a desire to reduce US
dependence on foreign energy supplies and position the US as a leader in new
globally competitive green industries.
The nuclear crisis in Japan following the country's tragic earthquake and
growing political unrest in the oil rich regions of North Africa and the Middle
East were two events late in the period which reignited debates about national
energy policies in many parts of the world. Both have the potential to lead to
more vigorous policies surrounding alternative energy and energy efficiency,
which could have longer term benefits to the Company.
While there has been a notable shift in emphasis away from climate change
science to the economic sustainability of energy policy in recent years, the
investment opportunities for the Company and the drivers for growth continue to
expand. For investors, the Company continues to provide important access to
businesses involved in creating a more sustainable global economy.
Perry Crosthwaite
Chairman
27 June 2011
MANAGER'S REVIEW
Performance Review
For the 12 months ended 31 March 2011 the return on the Total Assets of the
Company  was 13 per cent.* compared to a return of 16 per cent.* for the Trust's
benchmark index, the MSCI World Small Cap Index.
Market and Policy Review
Global equity markets made solid progress in the year under review, although
conditions were volatile. Early in the period, markets came under pressure,
weighed down by the Deepwater Horizon oil disaster in the Gulf of Mexico, the EU
bailout of Greece, uncertainty over the macro-economic climate and signs that
growth in China and the US was slowing. However, during the September quarter of
2010, stocks started to rally as Europe's sovereign debt crisis eased,
expectations grew that the US would restart its quantitative easing programme
and emerging markets continued to power ahead. The rally continued throughout
the final quarter of 2010 and into 2011 as confidence started to return to
developed markets and emerging economies continued their strong growth
performance despite tighter monetary policy. Sentiment took a big knock towards
the end of the period as geopolitical upheaval in the Middle East and North
Africa combined with the geophysical impact of a huge earthquake off the coast
of Japan to push oil prices back over US$100 a barrel. However, after a short
pause, the index continued its upward progress as fundamentals in emerging
markets and an improving situation in the US outweighed problems in Europe.
The Company underperformed its broad-based global equities benchmark, in part
due to the strong performance of the oil & gas and basic materials sectors
during the period. Companies from these sectors fall outside the portfolio's
environmental investment focus.
Renewable energy companies struggled to make headway as a result of
uncertainties over the policy outlook, sovereign risk issues and low gas prices
in the US. Infigen (clean energy) shares fell after it scrapped a planned sale
of its US wind assets because it failed to attract high enough bids, while
Vestas (clean energy) suffered from poor investor sentiment despite strong
fundamentals. Its share price recovered towards the end of the period on the
back of a number of order announcements and the unveiling of a new 7MW turbine
for the offshore wind market.
Strong performance from our US sustainable living holdings helped to lift the
Trust, with Green Mountain Coffee Roasters, United Natural Foods and Whole Foods
Market leading the way. Green Mountain Coffee Roasters was buoyed by a series of
upgrades and news that the company had struck a significant agreement with
Starbucks. From mid 2009 to 2011 the business has seen its earning estimates
treble, showing the strength of its earnings model. Other US holdings also had a
positive impact on returns including railway services company Wabtec and
recycled metals business Horshead. Elsewhere cyclical stocks Latchways and Tomra
performed well, as did energy efficiency company SKF.
We brought the management of the US portion of the portfolio in-house on 1 July
2010 and subsequently modified our list of regional holdings, adding names such
as Whole Foods Market, where we felt retail consumer trends within the 'healthy
foods' categories were more robust than anticipated, and Itron (smart meters).
We also added to our position in Green Mountain Coffee Roasters due to its
positive outlook, and sold out of Activity Brands and Prologis. Our overall
exposure to the region, however, is similar to last year. Other changes to the
portfolio included a new holding in EDP Renovaveis. Despite concerns surrounding
Portugal's sovereign risk, the company was fundamentally trading below asset
value, which in our view did not reflect the quality of its wind generating
assets. We also modestly increased in exposure to businesses operating in China
where there are growing opportunities in the environmental solutions sector.
Investment Outlook
The last financial year saw a number of disruptive events, the impact of which
will continue to be felt in the months and perhaps years to come. Any continuing
instability in the Middle East and North Africa, for example, is likely to
support oil prices. Meanwhile, the disaster at the Fukushima nuclear plant has
prompted a review of the sector and its risks by governments around the world.
Many are reconsidering whether they should expand their nuclear fleets and
extend the life of existing power stations. Events in Japan have the potential
to bring about some significant changes in national energy policies, but these
may take time to come through.
Ongoing geopolitical risk, the reassessment of nuclear power and longer term
growth in emerging markets suggests oil prices are likely to remain high for
some time. This should underpin the investment case for renewable energy and
energy efficient stocks in the longer term. While budgetary constraints and de-
leveraging, particularly in Europe, are likely to depress sentiment, Asia's
infrastructure build-out looks likely to continue for the foreseeable future.
Despite shorter term risks from tighter monetary policies, long term growth in
the region appears robust and measures such as China's 12th Five Year Plan and
South Korea's green growth initiatives put environmental issues at the centre of
their future growth strategies. This should be favourable for many of our
investment focuses.
Given the relative strength of Asian economies, we have sought to participate in
a number of recent IPOs in the region. There are signs of a pick-up in Merger
and Acquisition activity. In the renewables sector, for example, we have seen
Iberdrola Renovables being bought back by its parent company. We continue to see
strong drivers for growth in all the areas we focus on. Green investment is
starting to take a much more central role in policy considerations, with recent
events strengthening rather than weakening the case for investment in this area.
Recent years have seen a number of severe weather-related events in countries
ranging from Russia to Australia, while concerns over energy security have been
heightened by events in the Middle East and North Africa. The case for
increasing investments in nuclear as one of the main alternatives to fossil
fuels has been thrown into question by the earthquake's devastation of Fukushima
and the radiation leaks that have followed. In the longer term, this can only
increase the importance of renewable energy and energy efficiency to the energy
mix and we will continue to look for investment opportunities that are
positioned to benefit from these factors over the longer term.
Charles Thomas
Jupiter Asset Management Limited
Investment Adviser
27 June 2011
* Â Â Source: Jupiter Asset Management
Investment Objective
The Company's investment objective is to generate long-term capital growth
through a diverse portfolio of companies providing environmental solutions.
Investment Policy
The Company invests globally in companies which have a significant focus on
environmental solutions. Specifically, the Company looks to invest across three
key areas: infrastructure, resource efficiency and demographics.
The Company's portfolio has a bias towards small and medium capitalisation
companies. It invests primarily in securities which are quoted, listed or traded
on a recognised exchange. However, up to 5 per cent. of the Company's Total
Assets (at the time of such investment) may be invested in unlisted securities.
The portfolio manager selects each stock on its individual merits as an
investment rather than replicating the relevant company's weighting within the
Company's benchmark indices. The Company's investment portfolio is therefore
unlikely to represent the constituents of its benchmark indices, but instead is
intended to offer a well diversified investment strategy focused on maximising
returns from the prevailing economic background.
The portfolio manager may enter into contracts for differences in order to gain
both long and short exposure for the Company to indices, sectors, baskets or
individual securities for both investment purposes and for hedging or efficient
portfolio management purposes. The ability to maintain a portfolio of both long
and short positions provides the flexibility to hedge against periods of falling
markets, to reduce the risk of absolute loss at portfolio level and to reduce
the volatility of portfolio returns. The portfolio manager may also invest in
single stock, sector and equity index futures and options.
Risk is also mitigated by investing mainly in quoted companies on registered
exchanges, ensuring full regulatory compliance for all underlying quoted
investments. There are no specific stock and sector size limitations within the
portfolio, but the manager is expected to provide sufficient stock, sector and
geographic diversification to ensure an appropriate trade-off between risk and
return within the portfolio. In order to ensure compliance with this objective
there is a two tier monitoring system. Firstly, the manager's portfolio is
assessed monthly by the Jupiter Asset Management Limited Performance Committee,
which is headed by the Chief Executive of Jupiter Asset Management Limited.
Secondly, the Board is provided with a detailed analysis of stock, sector and
geographic exposures at the Trust's regular Board meetings.
Any material change in the investment policy of the Company described above may
only be made with the approval of Shareholders by an ordinary resolution.
RISKS AND UNCERTAINTIES
The principal risks relating to the Company can be divided into the following
areas:
1. Investment policy and process
2. Market movement
3. Accounting, legal and regulatory
4. Operational
5. Financial
The financial risks faced by the Company include:
a. Market price risk i.e. movements in value of investment holdings caused
by factors other than interest rate or currency movement and
b. Foreign currency risk
The investment Manager's policies for managing the financial risks are
summarized below and have been applied throughout the year.
Policy
a. Market Price Risk
By the very nature of its activities, the Company's investments are exposed to
market price fluctuations. Â Further information on the investment portfolio and
investment policy is set out in the Manger's Review.
b. Foreign Currency Risk
A proportion of the Company's portfolio is invested in overseas securities and
their sterling value can be significantly affected by movements in foreign
exchange rates. The Company does not normally hedge against foreign currency
movements affecting the value of the investment portfolio, but takes account of
this risk when making investment decisions.
STATEMENT OF COMPREHENSIVE INCOME
for the year ended 31 March 2011
 Year ended 31 March Year ended 31 March
2011 2010
 Revenue Capital Total Revenue Capital Total
 £'000 £'000 £'000 £'000 £'000 £'000
Gain on investments at fair fair - 3,811 3,811 - 13,493 13,493
value
Foreign exchange (loss)/gain 8 (191) (183) (13) (1,061) (1,074)
Income  (Note 1) 583 - 583 685 - 685
 ______ _____ _____ ______ _____ _____
Total Income 591 3,620 4,211 672 12,432 13,104
 ______ _____ _____ ______ _____ _____
Investment management (34) (307) (341) (348) - (348)
fee
Other expenses (327) - (327) (330) - (330)
 ______ _____ _____ ______ _____ _____
Total expenses (361) (307) (668) (678) - (678)
 ______ _____ _____ ______ _____ _____
Return on ordinary activities
before finance costs and taxation
230 3,313 3,543 (6) 12,432 12,426
Taxation (33) - (33) (36) - (36)
 ______ _____ _____ ______ _____ _____
Net return after taxation 197 3,313 3,510 (42) 12,432 12,390
 ______ _____ _____ ______ _____ _____
Return per Ordinary share  (p) 0.51p 8.63p 9.14p (0.10)p 28.93p 28.83p
Diluted return per Ordinary share 0.51p 8.63p 9.14p (0.10)p 28.93p 28.83p
 (p)
The total column of this statement is the income statement of the Company,
prepared in accordance with IFRS. The supplementary revenue return and capital
return columns are both prepared under guidance produced by the Association of
Investment Companies. All items in the above statement derive from continuing
operations.
No operations were acquired or discontinued during the year.
All income is attributable to the equity holders of Jupiter Green Investment
Trust Plc. There are no minority interests.
STATEMENT OF FINANCIAL POSITION
at 31 March 2011
 2011 2010
 £'000 £'000
Non current assets
Investments held at fair value through profit or loss 40,692 42,870
 _______ _______
Current assets
Prepayments and accrued income 55 102
Cash and cash equivalents 683 939
 _______ _______
 738 1,041
 _______ _______
Total assets 41,430 43,911
 _______ _______
Current liabilities
Other payables (345) (321)
 _______ _______
Total assets less current liabilities 41,085 43,590
 ======= =======
Capital and reserves
Called up share capital 37 44
Share premium 26,229 26,229
Redemption reserve 233 226
Special reserve 24,292 24,292
Retained earnings (9,706) (7,201)
 _______ _______
Total equity shareholders' funds 41,085 43,590
 ======= =======
Net Asset Value per Ordinary share 120.49p 106.65p
Diluted Net Asset Value per Ordinary share 116.47p 105.53p
STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2011
 Share Share Special Redemption Retained
 Capital Premium Reserve Reserve Earnings Total
 £'000 £'000 £'000 £'000 £'000 £'000
For the year ended 31 March
2011
Balance at 31 March 2010 44 26,229 24,292 226 (7,201) 43,590
Net profit for the year - - - - 3,510 3,510
Ordinary shares repurchased (7) - - 7 (6,015) (6,015)
 ______ _____ _____ _____ _______ _______
Balance at 31 March 2011 37 26,229 24,292 233 (9,706) 41,085
 ______ _____ _____ _____ _______ _______
 Share Share Special Redemption Retained
 Capital Premium Reserve Reserve Earnings Total
 £'000 £'000 £'000 £'000 £'000 £'000
For the year ended 31 March
2010
Balance at 31 March 2009 44 26,228 24,292 226 Â (16,981) 33,809
Net profit for the year - - - - 12,390 12,390
Ordinary shares issued - 1 - - - 1
Ordinary shares repurchased - - - - (2,610) (2,610)
 ______ _____ _____ _____ _______ _______
Balance at 31 March 2010 44 26,229 24,292 226 (7,201) 43,590
 ______ _____ _____ _____ _______ _______
CASH FLOW STATEMENT
for the year ended 31 March 2011
 Year ended Year ended
 31 March 2011 31 March 2010
 £'000 £'000
Cash flows from operating activities
Investment income received 611 645
Interest received 2 9
Other cash receipts - 1
Investment management fee paid (231) (341)
Other cash expenses (286) (335)
 _______ _______
Cash generated from operations (Note 2) 96 (21)
Taxation (33) (36)
 _______ _______
Net cash inflow/(outflow) from operating activities 63 (57)
 _______ _______
Cash flows from investing activities
Purchases of investments (8,639) (27,311)
Sales of investments 14,422 25,786
 _______ _______
Net cash inflow/(outflow) from investing activities 5,783 (1,525)
 _______ _______
Cash flows from financing activities
Shares issued - 1
Shares repurchased (5,919) (2,610)
 _______ _______
Net cash outflow from financing activities (5,919) (2,609)
 _______ _______
Decrease in cash (73) (4,191)
Change in cash and cash equivalents
Cash and cash equivalents at start of year 939 5,162
Realised loss on foreign currency (183) (32)
 _______ _______
Cash and cash equivalents at end of year 683 939
 _______ _______
NOTES:
1. Income
 Year ended Year ended
 31 March 2011 31 March 2010
 £'000 £'000
Income from investments:
Dividends from UK companies 315 363
UK Bond Interest 22 36
Dividends from overseas companies 244 276
 581 675
Other income:
Deposit interest 2 9
Underwriting commission - 1
Total Income 583 685
Income from investments is derived:
Listed on the UK Stock Exchange 343 399
Listed overseas 238 276
 581 675
2 Reconciliation of net cash outflow from operating activities
 2011 2010
 £'000 £'000
Net return before finance costs and taxation 3,543 12,426
Gain on investments (3,811) (13,493)
Decrease/(increase) in prepayments and accrued income 47 (36)
Increase in accruals and other creditors 134 7
Foreign exchange loss 183 1,075
 ___ ___
Net cash inflow/(outflow) from operating activities 96 (21)
3. Related parties
    Mr Hillgarth is a director of Jupiter Asset Management Limited which
receives investment management fees pursuant to the agreement described below.
Additionally Jupiter Administration Services Limited, a sister company, receives
administration fees again pursuant to the agreement described below.
Jupiter Asset Management Limited is contracted to provide investment management
services to the Company (subject to termination by not less than twelve months'
notice by either party) for a fee payable monthly, of one twelfth of 0.85 per
cent. of the net assets of the Company after deduction of the value of any
Jupiter managed investments. The fee payable for the year ended 31 March 2011
was £341,766 (2010: £348,172) with £141,742 (2010: £31,176) outstanding at the
year end.
Jupiter Asset Management Limited is also entitled to an investment performance
fee which is based on the outperformance of the Net Asset Value per Ordinary
Share over the total return on the Benchmark Index in an accounting year. Any
performance fee payable will equal the time weighted average number of Ordinary
shares in issue during the period multiplied by 15 per cent. of the amount by
which the increase in the Net Asset Value per Ordinary Share (plus any dividends
per Ordinary Share paid or payable and any accrual for unpaid performance fees
for the period) exceeds the total return on the Benchmark Index. The performance
fee will only be payable if the Net Asset Value per Ordinary Share (adjusted as
described above) exceeds the highest of (i) the Net Asset Value per Ordinary
Share on the last business day of the previous performance period; (ii) the Net
Asset Value per Ordinary Share on the last day of a performance period in
respect of which a performance fee was last paid: and (iii) 100p. The total
amount of management fees and any performance fee payable in respect of one
accounting period is limited to 1.75 per cent. of the Net Asset Value of the
Company on the last business day of the relevant performance period.
The Benchmark Index from 1 April 2010 is the total return on the MSCI World
Small Cap Index, expressed in Sterling. No performance fee was payable for the
year ended 31 March 2011 (2010: £Nil).
    Jupiter Administration Services Limited is contracted to provide
secretarial, accounting and administrative services to the Company for an annual
fee of £83,459 (2010: £80,867) adjusted each year in line with the Consumer
Prices Index which is payable half yearly in advance.
    The Company has invested from time to time in funds managed by Jupiter
Fund Management plc or its subsidiaries. The only such holding as at 31 March
2011 was Alon Technology Ventures representing 0.1 per cent. of total
investments.
4. Going Concern
The financial statements have been prepared on a going concern basis. The
Directors consider that this is the appropriate basis as they have a reasonable
expectation that the Company has adequate resources to continue in operational
existence for the foreseeable future. In considering this, the Directors took
into account the Company's investment objective, risk management policies and
capital management policies, the diversified portfolio of readily realisable
securities which can be used to meet short-term funding commitments and the
ability of the Company to meet all of its liabilities and ongoing expenses. Thus
the Directors continue to adopt the going concern basis of accounting in
preparing the financial statements.
5. Directors' Responsibilities For The Accounts
The Companies Act 2006 requires the Directors to prepare accounts for each
financial period which give a true and fair view of the state of affairs of the
Company at the end of the financial period and of the revenue for that period.
In preparing these accounts, the Directors are required to:
i. select suitable accounting policies and then apply them consistently;
ii. present information, including accounting policies, in a manner that
provides relevant, reliable, comparable and understandable information;
iii. provide additional disclosures when compliance with the specific
requirements in IFRSs is insufficient to enable users to understand the
impact of particular transactions, other event and conditions on the
entity's position and financial performance; and
iv. state whether applicable accounting standards have been followed, subject
to any material departure disclosed and explained in the accounts.
The Directors are responsible for keeping proper accounting records which
disclose with reasonable accuracy at any time the financial position of the
Company and enable them to ensure that the accounts comply with the Companies
Act 2006. Â They are also responsible for safeguarding the assets of the Company
and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
So far as each Director is aware at the time the report is approved, there is no
relevant audit information of which the auditors are unaware and that each
Director has taken all reasonable steps to make themselves aware of any relevant
information and to establish that the auditors are aware of that information.
The Directors, who are listed on page 5 of the Report and Accounts for the year
to 31 March 2011, confirm to the best of their knowledge that:
i. the financial statements, prepared in accordance with the applicable set of
accounting standards, give a true and fair view of the assets, liabilities,
financial position and profit or loss of the Company; and
ii. the Management Report includes a fair view of the development and
performance of the business and the position of the Company, together with
a description of the principal risks and uncertainties that the Company
faces.
On behalf of the Board
Perry Crosthwaite
Chairman
27 June 2011
The annual report will be sent to all registered shareholders and copies may be
obtained from the registered office of the Company at 1 Grosvenor Place, London,
SW1X 7JJ.
The Annual General Meeting of the Company is scheduled to take place at 11.00
a.m. on 7 September 2011 at the Company's registered office.
By order of the Board
Jupiter Asset Management Limited
Company Secretary
Enquiries:
Richard Pavry
Jupiter Asset Management Limited
020 7412 0703
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Jupiter Green Investment Trust PLC via Thomson Reuters ONE
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