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JPMorgan Japanese IT (JFJ)

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Wednesday 16 February, 2011

JPMorgan Japanese IT

Interim Management Statement

RNS Number : 3642B
JPMorgan Japanese Inv. Trust PLC
16 February 2011
 



JPMorgan Japanese Investment Trust plc

(the 'Company')

 

Interim Management Statement

 

For the three months ended 31st December 2010

 

This interim management statement relates to the quarter from 1st October 2010 to

31st December 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

14.0%

18.9%

24.4%

5.5%

-39.0%

-23.5%

Net asset value

8.7%

15.0%

19.2%

1.4%

-33.9%

-20.0%

Benchmark

7.4%

12.4%

19.4%

12.5%

 -6.2%

   6.2%

 

* total return with net dividends reinvested

Source: JPMAM/Morningstar

 

Financial position

 


As at 31st December 2010

As at 15th February

2011

Total assets

£341.9m

£364.4m

Share price

187.3p

191.0p

Net asset value

211.8p

214.42p

Discount

11.6%

10.9%

Gearing

104.6%

105.9%

 

Share prices shown are closing mid

Net asset values are shown excluding income with debt at par value

Source: JPMAM/Morningstar

 

Material events

 

Annual General Meeting

 

At the Company's Annual General Meeting ('AGM') held on 21st December 2010, resolutions were passed, including Special Resolutions which would allow the Company to allot relevant securities up to an aggregate nominal amount of £2,016,475 or, if less 5% of the total ordinary share capital, to disapply pre-emption rights on such allotments, to make market purchases of up to 24,202,565 of its ordinary shares, representing 14.99% of the Company's issued share capital.

 

 

 

 

 

 

Material transactions

 

Changes to share capital

 


Ordinary Shares of 25p



Shares in issue as at 1st October 2010

161,458,078

Shares bought back and cancelled

       140,000

Shares issued - new

-

Shares bought back into treasury

-

Shares issued - from treasury

-

As at 31st December 2010

161,318,078

 

The Company bought back 140,000 ordinary shares for cancellation during the financial quarter.

 

Portfolio

 

Top ten holdings as at 31st December 2010

 

Stock name

Sector

Weight %

 

Nippon Telegraph & Telephone

Information & Communication

5.2

Mitsubishi UFJ Financial Group

Banks

4.8

 

Honda Motor

Transportation Equipment

4.6

 

Canon

Electric Appliances

3.6

 

Sumitomo Mitsui Financial

Banks

3.5

 

Mitsubishi

Wholesale Trade

3.0

 

Sumitomo Electric Industries

Non-Ferrous Metals

2.7

 

Omron

Electric Appliances

2.7

 

Mitsui & Co

Wholesale Trade

2.6

 

Sumitomo Corporation

Wholesale Trade

2.5

 

 

 

 

Sector Breakdown as at 31st December 2010


Portfolio %

Electric Appliances

16.4

Transportation Equipment

13.1

Wholesale Trade

12.1

Information & Communication

10.6

Chemicals

8.8

Banks

8.3

Other

5.7

Machinery

5.1

Foods

4.9

Glass & Ceramics Products

3.7

Nonferrous Metals

3.6

Retail Trade

3.3

Other Financing Business

2.6

Pharmaceutical

1.8

Land Transportation

2.8

Metal Products

1.8

Cash

-4.6

Total

100.0

 

By order of the Board

Andrew Norman, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

16th February 2011

020 7742 6000

 

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

 

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.jpmjapanese.co.uk 

 

 


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