Portfolio Update

JPMorgan Fleming Mercantile IT PLC
01 November 2005



31- October- 05
JPMorgan Investment Trust
Ten Largest Investments
in % of Total Assets.

                                                                                                                        
Ten Largest Investments
JPMorgan Fleming Mercantile Investment Trust

BPB                                                                              2.7
P&O                                                                              2.7
Persimmon                                                                        2.1
Pilkington                                                                       2.0
Corus                                                                            2.0
Taylor Woodrow                                                                   1.8
GKN                                                                              1.8
Slough Estates                                                                   1.7
EMI                                                                              1.7
Investec                                                                         1.6
                                                                                20.1




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