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JPMorganInc&CapTst (JPI)

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Thursday 17 July, 2008

JPMorganInc&CapTst

Interim Management Statement

RNS Number : 3403Z
JPMorgan Income & Capital Trust PLC
17 July 2008
 



JPMorgan Income & Capital Trust plc


Interim Management Statement


For the three months ended 31st May 2008


This interim management statement relates to the quarter from 3rd March 2008 (launch date) to 31st May 2008 and contains information that covers that period, unless otherwise stated.  


Financial performance - Cumulative Total Return *



1 month

3 months

since launch

Share price

6.6%

-3.0%

Net asset value

-0.65%

7.89%

Benchmark

-0.27%

4.62%


Ordinary share total return with net dividends reinvested

Source: JPMAM/Fundamental Data


Financial position 



As at

31st May 2008

As at 

16th July 2008

Total assets (£'000)

£112,604

£96,051

Gearing (ordinary shares)

161.5%

192.7%

Gearing (units)

109.1%

130.3%


Ordinary Shares


As at

31st May 2008

As at

16th July 2008 

Net assets (£'000)

£65,809

£49,001

Net asset value per share

106.05p

79.48p

Share price

97.0p

68.50p

Discount

6.8%

13.8%


Zero Dividend Preference Shares

As at

31st May 2008

As at

16th July 2008 

Net assets (£'000)

£46,795

£47,050

Net asset value per share

101.6p

102.2p

Share price

102.8p

101.5p

Premium/Discount

1.6%

-0.7%









Share prices shown are closing bid

Net asset values are shown with debt at fair value

Source: JPMAM/Fundamental Data




Material transactions 


Changes to share capital 



Issued Ordinary Shares of 1

Issued Zero Dividend Preference Shares of 1p




Shares in issue as at 3rd March 2008

62,249,782

46,037,200

Shares bought back and cancelled

195,000

-

Shares bought back into treasury

-

-

Shares issued - from treasury

-

-

Shares issued 

-

-

As at 31st May 2008

62,054,782

46,037,200


During the quarter, the Company made market purchases of 195,000 of its own ordinary shares for cancellation, representing 0.3% of the ordinary shares in issue at the beginning of the financial year. The Company has not issued any shares in this financial quarter.


Declaration of dividends


On 26th June 2008 the Directors declared that a first interim dividend of 1.25 pence per ordinary share for the period from launch (on 3rd March 2008) to 28th February 2009 would be paid on 31st July 2008 to shareholders on the register at the close of business on 4th July 2008


Portfolio


Top ten holdings as at 31st May 2008


Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

8.7

BP

Oil & Gas

7.5

HSBC

Financials

6.3

Vodafone

Telecommunications

5.8

Anglo American

Industrials

3.2

BHP Billiton

Basic Materials

3.1

Astra Zeneca

Health Care

2.4

Diageo

Consumer Goods

2.1

British American Tobacco

Consumer Services

2.0

Standard Chartered

Financials

2.0








Sector analysis as at 31st May 2008



Portfolio %

Financials

21.7

Oil & Gas

16.9

Industrials 

9.7

Basic Materials 

8.6

Consumer Goods

8.5

Telecommunications

8.1

Consumer Services

7.1

Utilities

5.8

Fixed Income

5.6

Health Care

2.4

Cash

5.6

Total

100.00



By order of the Board

Lucy Dina, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

17th July 2008


Registered office: Finsbury Dials, 20 Finsbury StreetLondonEC2Y 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.jpmincomeandcapital.co.uk 


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