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JPMorganInc&CapTst (JPI)

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Tuesday 13 January, 2009

JPMorganInc&CapTst

Interim Management Statement

RNS Number : 5757L
JPMorgan Income & Capital Trust PLC
13 January 2009
 



JPMorgan Income & Capital Trust plc


Interim Management Statement


For the three months ended 30th November 2008


This interim management statement relates to the quarter from 1st September 2008 to 30th November 2008 and contains information that covers that period, unless otherwise stated.  


Financial performance - Cumulative Total Return *



1 month

3 months





Net asset value

-1.82%

-23.39%

Benchmark

-1.17%

-23.21%


Shareholder's funds total return with net dividends reinvested

Source: JPMAM/Fundamental Data


Financial position 



As at

30th Nov 2008

As at 

7th Jan 2009

Total assets (£'000)

£81.7m

£85.8m

Gearing (ordinary shares)

229.7%

225.0%

Gearing (units)

114.3%

112.0%


Ordinary Shares


As at

30th Nov 2008

As at

7th Jan 2009 

Net assets (£'000)

£33.3m

£37.1m

Net asset value per share

49.3p

55.0p

Share price

53.5p

51.5p

Premium/Discount

8.6%

-6.4%


Zero Dividend Preference Shares

As at

30th Nov 2008

As at

7th Jan 2008 

Net assets (£'000)

£48.4m

£48.7m

Net asset value per share

105.0p

105.6p

Share price

93.3p

91.5p

Discount

11.2%

13.4%


 

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 1st September 2008

61,406,782

46,037,200

Shares bought back and cancelled

-

-

Shares bought back into treasury

-

-

Shares issued - from treasury

-

-

Shares issued 

6,100,000

50,000

As at 30th November 2008

67,506,782

46,087,200


During the quarter, the Company issued 6,100,000 for cash of its own ordinary shares, representing 9.8% of the ordinary shares in issue and 50,000 zero dividend preference shares, representing 0.11% of the zero dividend preference 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 23rd November 2008 the Directors declared that a third 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 30th January 2009 to shareholders on the register at the close of business on 9th January 2008


Portfolio


Top ten holdings as at 30th November 2008


Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

9.5

BP

Oil & Gas

8.6

HSBC

Financials

7.5

Vodafone

Telecommunications

6.0

Astra Zeneca

Health Care

3.5

British American Tobacco

Consumer Services

3.1

BG

Oil & Gas

2.7

GlaxoSmithKline

Healthcare

2.7

BHP Billiton

Basic Materials

2.6

Unilever

Consumer Goods

2.3



Sector analysis as at 30th November 2008



Portfolio %

Oil & Gas

22.1

Financials

19.7

Consumer Goods 

10.6

Industrials

9.8

Basic Materials

7.6

Telecommunications

6.9

Health Care

6.9

Consumer Services

5.9

Utilities

5.7

Technology

1.1

Cash

3.7

Total

100.00



By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

13th January 2009


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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