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JPMorganInc&CapTst (JPI)

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Tuesday 11 January, 2011

JPMorganInc&CapTst

Interim Management Statement

RNS Number : 2979Z
JPMorgan Income & Capital Trust PLC
11 January 2011
 



JPMorgan Income & Capital Trust plc

 

Interim Management Statement

 

For the three months ended 30th November 2010

 

This interim management statement relates to the quarter from 1st September 2010 to 30th November 2010 and contains information that covers that period, unless otherwise stated. 

 

Financial performance - Cumulative Total Return *

 


1 month

3 months

 




Net asset value

-2.1%

7.5%

Benchmark

-2.2%

5.9%

 

* Shareholder's funds total return with net dividends reinvested

Source: JPMAM/Morningstar

 

Financial position

 


As at

30th Nov 2010

As at

6th Jan 2011

Total assets (£'000)

£104.8m

£113.1m

Gearing (ordinary shares)

208.4%

194.7%

Gearing (units)

114.9%

114.2%

 

Ordinary Shares

 

As at

30th Nov 2010

As at

6th Jan 2011

Net assets (£'000)

£49.6m

£57.6m

Net asset value per share

73.5p

85.4p

Share  price

68.3p

74.0p

Discount (-) / Premium (+)

-7.1%

-13.3%

 

Zero Dividend Preference Shares

As at

30th Nov 2010

As at

6th Jan 2011

Net assets (£'000)

£55.2m

£55.5m

Net asset value per share

119.7p

120.3p

Share  price

126.8p

127.3p

Discount (-) / Premium (+)

+5.9%

+5.8%

 

 

 

 

 

 

 

 

Share prices shown are closing mid market price.

Net asset values are shown with debt at fair value

Source: JPMAM/Morningstar

 

 

 

Material transactions

 

Changes to share capital

 


Issued Ordinary Shares of 1p

Issued Zero Dividend Preference Shares of 1p




Shares in issue as at 1st September 2010

67,506,782

46,087,200

Shares bought back and cancelled

-

-

Shares bought back into treasury

-

-

Shares issued - from treasury

-

-

Shares issued

-

-

As at 30th November 2010

67,506,782

46,087,200

 

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

 

Declaration of dividends

 

On 17th December 2010 the Directors declared that a third interim dividend of 1.25 pence per ordinary share for the year ending 28th February 2011 would be paid on 28th January 2011 to shareholders on the register at the close of business on 7th January 2011.

 

Portfolio

Top ten holdings as at 30th November 2010

 

Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

8.3

HSBC

Financials

7.0

Vodafone

Telecommunications

5.8

BHP Billiton

Basic Materials

4.3

GlaxoSmithKline

Health Care

4.0

Rio Tinto

Basic Materials

3.6

British American Tobacco

Consumer Staples

3.6

AstraZeneca

Health Care

3.5

BP

Oil & Gas

3.1

JPM Global Corporate Bond Fund

 

 

 

 

Fixed Interest

2.7

Sector analysis as at 30th November 2010

 


Portfolio %

Financials

26.4

Oil & Gas

12.9

Basic Materials

12.9

Industrials

12.1

Consumer Goods

7.9

Consumer Services

7.8

Telecommunications

7.5

Health Care

7.4

Utilities

3.8

Cash

1.3

Total

100.0

 

 

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

11th January 2011

 

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.jpmincomeandcapital.co.uk 


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