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JPMorgan Claver IT (JCH)

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Friday 24 October, 2008

JPMorgan Claver IT

Interim Management Statement

RNS Number : 6805G
JPMorgan Claverhouse IT PLC
24 October 2008
 



JPMorgan Claverhouse Investment Trust plc


Interim Management Statement


For the three months ended 30th September 2008


This interim management statement relates to the quarter from 1st July 2008 to 30th September 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

-15.9%

-15.0%

-25.3%

-4.9%

44.9%

23.1%

Net asset value

-15.3%

-15.0%

-25.0%

-3.8%

48.6%

35.6%

Benchmark

-13.2%

-12.2%

-22.3%

0.0%

44.5%

43.3%


* total return with net dividends reinvested

Source: JPMAM/Fundamental Data


Financial position 



As at 30th September 2008

As at 23rd October 2008

Total assets

  £271.0m

£218.4m

Share price

   388.0p

  318.0p

Net asset value

   415.6p

  335.2p

Discount

   6.6%

   5.1%

Gearing

   108.3%

113.4%


Share prices shown are closing bid

Net asset values are shown excluding income with debt at fair value

Source: JPMAM/Fundamental Data


Material events 



Humphrey van der Klugt was appointed a Director with effect from 1st September 2008.


A second quarterly interim dividend of 3.5p was paid on 1st September 2008.



Material transactions 


Changes to share capital 



Ordinary Shares of 25p 



Shares in issue as at 1st July 2008

57,456,153

Shares bought back and cancelled

587,000

Shares issued 

-

As at 30th September 2008

56,869,153


During the quarter, the Company made market purchases of 587,000 of its own shares for cancellation, representing 0.99% of the shares in issue at the beginning of the financial year. The Company has not issued any shares in this financial quarter.



Portfolio


Top ten holdings as at 30th September 2008


Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

8.4

HSBC

Financials

7.0

BP

Oil & Gas

6.8

GlaxoSmithKline

Health Care

4.8

AstraZeneca

Health Care

4.4

Vodafone

Telecommunications

3.7

British American Tobacco

Consumer Goods

3.6

Unilever

Consumer Goods

3.4

BHP Billiton

Basic Materials

3.1

Rio Tinto

Basic Materials

3.1


Sector analysis as at 30th September 2008



Portfolio %

Financials

27.5

Oil & Gas

20.7

Basic Materials

9.6

Health Care

9.1

Consumer Goods

8.4

Industrials

5.9

Telecommunications

5.2

Utilities

4.7

Consumer Services

4.4

Technology

0.4

Cash

4.1

Total

100.00



By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

24th October 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.jpmclaverhouse.co.uk 


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