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JP Morgan Overseas (JMO)

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Tuesday 29 April, 2008

JP Morgan Overseas

Interim Management Statement

JPMorgan Overseas IT PLC
29 April 2008

                     JPMorgan Overseas Investment Trust plc

                    Interim Management Statement (Unaudited)

                   For the three months ended 31st March 2008



This interim management statement relates to the quarter from 1st January 2008
to 31st March 2008 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      10 Years
Share price              -4.3%        -11.9%         -4.1%        38.3%        97.9%        60.9%
Net asset value          -2.8%        -11.7%         -4.4%        28.8%        72.9%        47.5%
Benchmark                -0.9%        -8.9%          -4.5%        25.3%        66.7%        37.2%



* total return with net dividends reinvested

Source: JPMAM/Fundamental Data



Financial position
                                                       As at 31st March 2008   As at 28th April 2008
Total assets                                                  £170.6m                 £181.4m
Share  price                                                   573.0p                  615.0p
Net asset value                                                611.8p                  655.0p
Discount                                                        6.3%                    6.1%
Gearing                                                        104.1%                  103.4%



Share prices shown are closing bid

Source: JPMAM/Fundamental Data



Changes to share capital


                                           Issued Shares

As at 1st January 2008                     28,140,948
Shares bought back and cancelled           432,000
Shares bought back into Treasury           -
Shares cancelled from Treasury             -
Shares issued                              -
As at 31st March 2008                      27,708,948



During the quarter, the Company made market purchases of 432,000 shares for
cancellation, representing 1.5% of the shares outstanding at the beginning of
the financial year.



Portfolio Analyses



Ten largest holdings as at 31st March 2008*


Stock name                                Sector                        Weight %

JPMorgan Emerging Markets Inv Trust       Financials                         2.9
Total                                     Energy                             2.7
Mitsubishi                                Industrials                        2.6
El Paso                                   Energy                             2.2
Nokia                                     Information Technology             2.1
Vodafone                                  Telecommunication Services         2.0
Roche Holdings                            Health Care                        2.0
Intesa Sanpaolo                           Financials                         2.0
Cisco Systems                             Information Technology             1.9
Taiwan Semiconductor                      Information Technology             1.7



* Excluding liquidity fund holdings which are held as an alternative to cash.


Portfolio analysis as at 31st March 2008
                                                      Portfolio %

Sector
Financials                                            27.9
Information Technology                                14.7
Energy                                                13.6
Industrials                                           11.4
Consumer Staples                                      10.9
Materials                                             7.7
Consumer Discretionary                                7.2
Health Care                                           5.0
Telecommunication Services                            4.4
Utilities                                             2.1
Cash                                                  -4.9
Total                                                 100.00




Geographical                                          Portfolio %

North America                                         38.0
Continental Europe                                    31.0
United Kingdom                                        12.6
Japan                                                 10.3
Emerging Markets                                      7.6
Developed Asia                                        5.4
Cash                                                  -4.9
Total                                                 100.00




By order of the Board
Divya Amin, for and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary
29th April 2008


Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ
Telephone: 020 7742 6000


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.jpmoverseas.co.uk


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