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JPMorgan Claver IT (JCH)

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Thursday 13 May, 2010

JPMorgan Claver IT

Interim Management Statement

RNS Number : 8962L
JPMorgan Claverhouse IT PLC
13 May 2010
 



JPMorgan Claverhouse Investment Trust plc

 

Interim Management Statement

 

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. 

 

Cumulative performance *


1 month

3 months

1 Year

3 Years

5 Years

10 Years

Share price

8.2%

4.5%

57.7%

-11.4%

34.4%

11.6%

Net asset value

7.7%

8.5%

54.9%

-9.0%

37.8%

21.3%

Benchmark

6.8%

6.4%

52.3%

-0.7%

41.3%

29.3%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

 

Financial position

 


As at 31st March 2010

12th May 2010

Total assets

                 £303.9m

£289.4m

Share price

   437.3p

412.5p

Net asset value

   475.7p

445.3p

Discount

     8.1%

7.4%

Gearing

      111.5%

112.7%

Share prices shown are closing bid

Net asset values shown are capital only, with debt at fair value

Source: JPMAM/ Morningstar

 

Material events

At the Company's Annual General Meeting held on 14th April 2010, all resolutions were passed, including three special resolutions which allow the Company to repurchase its own shares, to disapply pre-emption rights on allotment of new ordinary shares and adopted new Articles of Association.

 

Material transactions

 

Changes to share capital


Ordinary Shares of 25p

Shares in issue as at 1st January 2010

56,765,653

Shares bought back and cancelled

-

Shares bought into Treasury

238,800

Shares cancelled from Treasury

-

Shares issued

-

As at 31st March 2010

56,765,653

 

During the quarter, the Company repurchased 238,800 shares into Treasury. The Company did not issue any shares in the quarter.

Portfolio

 

Ten largest holdings as at 31st March 2010

Stock name

Sector

Weight %

BP

Oil & Gas

8.5

Royal Dutch Shell

Oil & Gas

7.3

Vodafone

Telecommunications

5.5

HSBC

Financials

5.0

GlaxoSmithKline

Health Care

4.3

AstraZenca

Health Care

4.2

Rio Tinto

Basic Materials

3.4

Anglo American

Basic Materials

3.1

Barclays

Financials

3.0

Unilever

Consumer Goods

2.7

 

Sector analysis as at 31st March 2010


Portfolio %

Financials

20.6

Oil & Gas

18.4

Basic Materials

15.1

Consumer Services

10.2

Consumer Goods

10.0

Health Care

8.5

Industrials

7.9

Telecommunications

6.0

Technology

1.4

Cash

1.3

Utilities

0.6

Total

100.0

 

 

By order of the Board

Jonathan Latter, 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.jpmclaverhouse.co.uk 


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