Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

JP Morgan Chin IT (JMC)

  Print      Mail a friend       Annual reports

Friday 02 June, 2006

JP Morgan Chin IT

Interim Results

JPMorgan Chinese Inv Tst PLC
02 June 2006


                           STOCK EXCHANGE ANNOUNCMENT

                       JPMORGAN CHINESE INVESTMENT TRUST

       UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31st MARCH 2006



Performance

I am pleased to report that the Company's total return to shareholders for the
six months to 31st March 2006 was +18.6%. This return comprises the 17.1% rise
in the Company's share price from 73.0p to 85.5p, and a net dividend of 0.9p per
share that was paid to shareholders on 23rd December 2005.

Over the same period, the Company's total return on net assets, which comprises
the percentage change in net asset value with this net dividend reinvested, was
+18.2%. This compares favourably with a total return for the Company's
benchmark, the MSCI Golden Dragon Index (in sterling terms), of +13.6%.


Investment Management Arrangements

On 22nd February 2006, the Board announced that Howard Wang would continue as
the Company's named Investment Manager following Ernest Liu's resignation from
the Company's Investment Manager, JPMorgan Asset Management. Howard, based in
Hong Kong, is Head of JPMorgan Asset Management's Greater China team, which is
responsible for the day-to-day management of the Company's portfolio.

Howard has recently been joined by Emerson Yip, a highly experienced investor in
the Greater China region.  I would like to welcome Emerson and hope to be able
to introduce him to shareholders at this year's Annual General Meeting.


Share Issues and Share Buybacks

At the Annual General Meeting in December 2005, shareholders gave the Board the
authority to issue up to 10% of the Company's shares as ordinary shares.  Since
then, approximately 4.6 million shares have been issued at an average premium to
net asset value of 4.3%. In addition, the authority to repurchase up to 14.99%
of the Company's issued share capital was renewed at the Annual General Meeting.
As previously stated, repurchases will only be made in the market at prices
below the prevailing net asset value per share.  At the time of writing, no
shares have been repurchased under this authority, but the Board is prepared to
repurchase shares for cancellation if the discount increases significantly and
any repurchases would result in an increase to the net asset value per share.
Since the end of the period, the Company's shares have in the main continued to
trade at a premium to their net asset value.


Outlook

Despite recent turbulence in the market, the Board remains confident that the
Greater China region will continue to offer good growth prospects in the
longer-term.  The Managers believe that ongoing Chinese domestic consumption,
combined with careful selection of stocks, should contribute to further good
performance of the Company.


Nigel Melville, Chairman
2nd June 2006



For further information please contact:
Lucy Sullivan, JPMorgan Asset Management (UK) Limited ............ 020 7742 6000




JPMorgan Chinese Investment Trust plc
Unaudited figures for the six months ended 31st March 2006
Income Statement

                              Six months to 31st March 2006  Six months to 31st March 2005   Year to 30th September 2005
                                                                                                      (restated)
                               Revenue    Capital     Total   Revenue   Capital      Total   Revenue   Capital     Total
                                 £'000      £'000     £'000     £'000     £'000      £'000     £'000     £'000     £'000

Realised gains on investments        -      4,122     4,122         -       646        646         -     2,919     2,919
Unrealised gains on investments      -      4,713     4,713         -     1,253      1,253         -     6,126     6,126
Currency gains/(losses) on cash 
and Short-term deposits held 
during the period                    -         17        17         -        10         10         -       (6)       (6)
Other capital charges                -       (12)      (12)         -      (24)       (24)         -      (42)      (42)
Overseas dividends                 239          -       239        94         -         94     1,410         -     1,410
Scrip dividends                     34          -        34        10         -         10       105         -       105
Deposit interest                    14          -        14        34         -         34        49         -        49
Stocklending fees                    -          -         -         6         -          6         6         -         6
                               _______   ________   _______    ______   _______   ________   _______   _______   _______

Gross return                       287      8,840     9,127       144     1,885      2,029     1,570     8,997    10,567
Management fee                   (264)          -     (264)     (200)         -      (200)     (423)         -     (423)
Other administrative expenses    (142)          -     (142)     (143)         -      (143)     (284)         -     (284)
Performance fee                      -      (406)     (406)         -     (175)      (175)         -     (211)     (211)
                               _______   ________   _______    ______   _______   ________   _______   _______   _______

(Loss)/return before finance
costs and taxation               (119)      8,434     8,315     (199)     1,710      1,511       863     8,786     9,649
Finance costs                      (1)          -       (1)         -         -          -         -         -         -
                               _______    _______   _______    ______   _______    _______   _______   _______   _______

(Loss)/return before taxation    (120)      8,434     8,314     (199)     1,710      1,511       863     8,786     9,649
Taxation                         (134)        132       (2)       (7)         -        (7)     (222)        69     (153)
                                ______    _______   _______    ______   _______     ______   _______   _______   _______

(Loss)/return attributable       (254)      8,566     8,312     (206)     1,710      1,504       641     8,855     9,496
to shareholders

(Loss)/return per ordinary     (0.36)p     12.20p    11.84p   (0.31)p     2.58p      2.27p     0.96p    13.23p    14.19p
share

Dividend per ordinary share        Nil                            Nil                          0.90p



The results for the year ended 3oth September 2005 have been restated in
accordance with Financial Reporting Standard 21. As the Company did not declare
and distribute an interim dividend for the half year ended 31st March 2005 it is
not necessary for the interim results ended 31st March 2005 to be restated in
accordance with Financial Reporting Standard 21.




JPMorgan Chinese Investment Trust plc
Unaudited figures for the six months ended 31st March 2006
Reconciliation of Movements in Shareholders' Funds
                                                           
                               Called-     Share Exercised   Capital    Capital    Capital                        
                              up share   Premium   warrant  reserve-   reserve- redemption    Other   Revenue
                               capital   account   reserve  realised unrealised    reserve  reserve   reserve     Total
                                 £'000     £'000     £'000     £'000      £'000      £'000    £'000     £'000     £'000

At 30th September 2004 (as      16,522     3,335         3  (20,531)      1,251        581   37,476       988    39,625
restated)
Shares issued                      581     1,069         -         -          -          -        -         -     1,650
Net capital return from              -         -         -     3,595      5,260          -        -         -     8,855
ordinary activities
Net revenue return from              -         -         -         -          -          -        -       641       641
ordinary activities
Dividends appropriated in the        -         -         -         -          -          -        -     (616)     (616)
year
                               _______   _______  ________  ________   ________    _______  _______   _______  ________
At 30th September 2005 (as      17,103     4,404         3  (16,936)      6,511        581   37,476     1,013    50,155
restated)
Adjustment to opening                -         -         -         -      (116)          -        -         -     (116)
shareholders' funds at 1st 
October 2005 due to                  
adoption of FRS26
Shares issued                    1,059     2,388         -         -          -          -        -         -     3,447
Net capital return from              -         -         -     7,040      1,526          -        -         -     8,566
ordinary activities
Net revenue return from              -         -         -         -          -          -        -     (254)     (254)
ordinary activities
Dividends appropriated in the        -         -         -         -          -          -        -     (620)     (620)
year
                               _______   _______  ________  ________   ________    _______  _______   _______  ________
At 31st March 2006              18,162     6,792         3   (9,896)      7,921        581   37,476       139    61,178





JPMorgan Chinese Investment Trust plc
Unaudited figures for the six months ended 31st March 2006


BALANCE SHEET                                             31st March 2006   31st March 2005    30th September 2005
                                                                                                        (restated)
                                                                    £'000             £'000                  £'000

Total investments at fair value                                    60,628            38,186                 49,269

Net current assets                                                    589             2,876                    924
                                                                  _______           _______                _______
Total assets less current liabilities                              61,217            41,062                 50,193


Deferred taxation                                                    (39)              (35)                   (38)
                                                                  _______           _______                _______
Total net assets                                                   61,178            41,027                 50,155
                                                                    =====             =====                  =====
Net asset value per ordinary share                                  84.2p             61.3p                  73.3p

CASH FLOW STATEMENT
                                                                     2006              2005                   2005
                                                                    £'000             £'000                  £'000

Net cash (outflow)/inflow from operating activities                 (299)              (81)                    615

Net cash outflow from returns on investments and
servicing of finance                                                  (1)                 -                      -
        
Net cash (outflow)/inflow from capital expenditure and
financial investment                                              (2,437)               582                (3,154)

Total equity dividends paid                                         (620)             (661)                  (661)

Net cash inflow from financing                                      3,447               514                  1,650
                                                                  _______            ______                 ______
Increase/(decrease) in cash for the period                             90               354                (1,550)
                                                                    =====              ====                   ====



The results for the year ended 30th September 2005 have been restated in
accordance with Financial Reporting Standard 21.  As the Company did not declare
and distribute an interim dividend for the half year ended 31st March 2005 it is
not necessary for the interim results ended 31st March 2005 to be restated in
accordance with Financial Reporting Standard 21.

The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. Statutory accounts for the
year ended 30th September 2005 have been delivered to the Registrar of
Companies.



JPMORGAN ASSET MANAGEMENT (UK) LIMITED



                      This information is provided by RNS
            The company news service from the London Stock Exchange