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.

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JP Morgan Inc & Cap (JPI)

  Print      Mail a friend       Annual reports

Friday 22 June, 2007

JP Morgan Inc & Cap

Interim Management Statement

JPMorgan Income & Capital IT PLC
22 June 2007

                 JPMorgan Income & Capital Investment Trust plc



                          Interim Management Statement



                    For the three months ended 31st May 2007



This interim management statement relates to the quarter from 1st March 2007 to
31st May 2007 and contains information that covers that period, unless otherwise
stated.



Financial performance - Cumulative Total Return *


                         1 month      3 months       1 Year       3 Years      5 Years      Since
                                                                                            inception
Share price              3.2%         6.5%           32.3%        197.2%       140.3%       149.8%
Net asset value          4.9%         9.4%           29.9%        146.1%       117.4%       121.2%
Benchmark                1.9%         6.2%           15.4%        53.5%        55.7%        54.4%



* Ordinary share total return with net dividends reinvested

Source: JPMAM/Fundamental Data



Financial position


                                                        As at 31st May 2007     As at 21st June 2007
Total assets (£'000)                                  £205,026                 £200,740
Gearing                                               157%                     £158%


Ordinary Shares                                         As at 31st May 2007     As at 21st June 2007


Net assets (£'000)                                    £110,448                 £106,166
Net asset value per share                             156.29p                  150.23p
Share  price                                          145.25p                  143.50p
Discount                                              7.07%                    4.48%


Zero Dividend Preference Shares                         As at 31st May 2007     As at 21st June 2007
Net assets (£'000)                                    £94,563                  £94,563
Net asset value per share                             145.29p                  145.29p
Share  price                                          146.50p                  146.50p
Premium                                               0.83%                    0.83%



Share prices shown are closing mid

Net asset values are shown with debt at fair value

Source: JPMAM/Fundamental Data







Material events



There were no material events to report during the first quarter.



Material transactions



Changes to share capital


                                          Issued Ordinary Shares  of Issued Zero Dividend Preference
                                          1p                         Shares of 1p

As at 28th February 2007                  71,453,900                 65,085,982
Shares bought back and cancelled          785,000                    -
Shares issued                             -                          -
As at 31st May 2007                       70,668,900                 65,085,982



During the quarter, the Company made market purchases of 785,000 of its own
ordinary shares for cancellation, representing 1.10% of the shares outstanding
at the beginning of the financial year, at an average discount of 8.70%.



Payment of dividends



On 2nd April 2007 a fourth interim dividend of 3.00 pence per ordinary share was
paid to holders of ordinary shares and units on the register as at the close of
business on 2nd March 2007. This fourth payment, when added to the three interim
dividends of 1.75 pence per ordinary share already paid by the Company, brought
the total dividend for the year ended 28th February 2007 to 8.25 pence per
ordinary share (2006: 7.25 pence).



Portfolio



Top ten holdings as at 31st May 2007


Stock name                                          Sector                             Weight %
European Inv Bank 4.5% 07/12/2007                   Financials                         4.8
UK Treasury 5.0% 07/03/2008                         Financials                         4.8
UK Treasury 4.0% 07/03/2009                         Financials                         4.7
Royal Dutch Shell                                   Resources                          2.1
Rio Tinto                                           Basic Materials                    1.8
HSBC                                                Financials                         1.6
BP                                                  Oil & Gas                          1.6
Invensys                                            Industrials                        1.6
Aviva                                               Financials                         1.6
Kelda                                               Industrials                        1.5









Sector analysis as at 31st May 2007


Sector                                                Portfolio %
Financials                                            24.3
Fixed Income                                          14.3
Industrials                                           9.2
Consumer Services                                     8.7
Utilities                                             8.3
Oil & Gas                                             6.2
Consumer Goods                                        6.0
Basic Materials                                       4.5
Telecommunications                                    2.6
Health Care                                           2.2
Cash                                                  13.7
Total                                                 100.00









By order of the Board
Lucy Dina, for and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary
22nd June 2007



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.jpmincomeandcapital.co.uk


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