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JPMorganInc&CapTst (JPI)

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Wednesday 08 July, 2009

JPMorganInc&CapTst

Interim Management Statement

RNS Number : 3113V
JPMorgan Income & Capital Trust PLC
08 July 2009
 



JPMorgan Income & Capital Trust plc


Interim Management Statement


For the three months ended 31st May 2009


This interim management statement relates to the quarter from 1st March 2009 to 31st May 2009 and contains information that covers that period, unless otherwise stated.  


Financial performance - Cumulative Total Return *



1 month

3 months





Net asset value

+4.0%

+15.6%

Benchmark

+4.5%

+16.6%


Shareholder's funds total return with net dividends reinvested

Source: JPMAM/Fundamental Data


Financial position 



As at

31st May 2009

As at 

25th June 2009

Total assets (£'000)

£83.7m

£80.5m

Gearing (ordinary shares)

249.1%

260.1%

Gearing (units)

116.8%

114.8%


Ordinary Shares


As at

31st May 2009

As at

25th June 2009 

Net assets (£'000)

£33.7m

£30.5m

Net asset value per share

47.8p

42.8p

Share price

54.5p

53.3p

Premium

13.8%

24.3%


Zero Dividend Preference Shares

As at

31st May 2009

As at

25th June 2009 

Net assets (£'000)

£50.0m

£50.0m

Net asset value per share

108.5p

108.5p

Share price

99.0p

100.4p

Discount

8.76%

7.49%









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 March 2009

67,506,782

46,087,200

Shares bought back and cancelled

-

-

Shares bought back into treasury

-

-

Shares issued - from treasury

-

-

Shares issued 

-

-

As at 31st May 2009

67,506,782

46,087,200


During the quarter, the Company did not repurchase or issue any shares. 


Declaration of dividends


On 30th June 2009the Directors declared that a first interim dividend of 1.25 pence per ordinary share for the period from 1st March 2009 to 28th February 2010 would be paid on 31st July 2009 to shareholders on the register at the close of business on 10th July 2009, with an ex-dividend date of 8th July 2009.


Annual General Meeting ('AGM')


The Company held its AGM on 6th July 2009. The Board is pleased to report that all of the resolutions put to the shareholders were passed. 


Portfolio


Top ten holdings as at 31st May 2009


Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

9.3

HSBC

Financials

9.0

BP

Oil & Gas

7.6

Vodafone

Telecommunications

5.5

JPMorgan (Europe) S.A.R.L. Global Corporate Bond 'A'


Fixed Interest


4.7

GlaxoSmithKline

Healthcare

4.6

BHP Billiton

Basic Materials

3.9

British American Tobacco

Consumer Goods

3.3

AstraZeneca

Healthcare

3.2

Rio Tinto

Basic Materials

2.3








Sector analysis as at 31st May 2009



Portfolio %

Financials

20.6

Oil & Gas

20.4

Industrials

9.1

Consumer Services

8.3

Basic Materials

8.2

Health Care

7.8

Consumer Goods 

7.7

Telecommunications

6.1

Fixed Interest

4.7

Utilities

4.4

Technology

0.6

Cash

2.1



Total

100.00



By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

8th July 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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