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JPMorgan Overseas (JMO)

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Thursday 13 May, 2010

JPMorgan Overseas

Interim Management Statement

RNS Number : 8752L
JPMorgan Overseas IT PLC
13 May 2010
 



JPMorgan Overseas Investment Trust plc

 

Interim Management Statement (Unaudited)

 

For the three months ended 31st March 2010

 

This interim management statement relates to the quarter from 1st January 2010 to 31st March 2010 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

 13.1%

13.9%

79.8%

40.0%

101.9%

59.6%

Net asset value

9.2%

12.3%

71.8%

33.9%

80.5%

36.2%

Benchmark

6.8%

9.8%

46.9%

10.6%

 45.1%

 7.6%

 

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

 

Financial position


As at 31st March 2010

As at 5h May 2010

Total assets

£218.8m

£210.8m

Share  price

800.5p

778.0p

Net asset value

Discount**

Gearing***

822.6p

2.7%

103.9%           

789.7p

1.5%

102.7%

 

Share prices shown are closing bid

Source: JPMAM/Fundamental Data

 

** The Company aims to maintain an average discount of around 5%. Average over 3 months was 6.2%. On 30th April 2009, the Board agreed that any shares repurchased under this policy should be held in Treasury. Any shares held in Treasury will only be re-issued at a premium to net asset value.

 

*** Actual Gearing is based on the most recently available month-end data.

 

Changes to share capital

 


Issued Shares 





As at 1st January 2010

26,174,698


Shares bought back and cancelled

-


Shares bought back into Treasury

Shares cancelled from Treasury

Shares issued                                               

-

-

-


As at 31st March 2010

26,174,698


 

 

Portfolio Analyses

 

Ten largest holdings as at 31st March 2010****

 

Stock name

Sector

Weight %




Rhodia

Materials

3.2

Lanxess

Materials

2.8

Mitsubishi Electric

Industrials

2.6

Credit Suisse

Financials

2.2

Intercontinental Hotels

Consumer Discretionary

2.1

Japan Tobacco

Consumer Staples

2.1

Kubota

Industrials

2.0

Hewlett Packard

Information Technology

2.0

McDonald's

Consumer Discretionary

2.0

Abbott Laboratories

Health Care

2.0




 

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

 

Portfolio analysis as at 31st March 2010

 

Sector

Portfolio %



Financials

21.6

Industrials

16.2

Consumer Discretionary

15.0

Information Technology

11.0

Materials

10.0

Energy

8.2

Consumer Staples

7.3

Health Care

5.7

Telecommunication Services

5.3

Utilities

3.5

Cash

-3.8

Total

100.0

 

 

Geographical

Portfolio %



North America

26.5

Europe Ex UK

26.2

United Kingdom

22.8

Japan

13.5

Pacific Ex Japan

8.1

Emerging Markets

6.7

Cash

-3.8

Total

100.0



By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

 

13th May 2010

 

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
 
END
 
 
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