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JPMorgan Overseas (JMO)

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Tuesday 17 May, 2011

JPMorgan Overseas

Interim Management Statement

RNS Number : 7479G
JPMorgan Overseas IT PLC
17 May 2011
 



JPMorgan Overseas Investment Trust plc

 

Interim Management Statement (Unaudited)

 

For the three months ended 31st March 2011

 

This interim management statement relates to the quarter from 1st January 2011 to 31st March 2011 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

 1.3%

-1.3%

9.1%

59.2%

52.6%

93.7%

Net asset value

 0.9%

-0.8%

7.2%

50.2%

42.5%

68.7%

Benchmark

 1.4%

2.0%

8.0%

25.0%

21.9%

36.1%

Source: JPMAM/Morningstar

 

* total return with net dividends reinvested

 

 

Financial position


As at 31st March 2011

As at 13th May 2011

Total assets

£247.7m

£253.7m

Share  price

860.0p

903.0p

Net asset value

(Discount)/Premium**

Actual Gearing***

868.3p

(1.0)%

106.5%

881.6p

2.4%

105.9%

Share prices shown are closing bid

Source: JPMAM/Morningstar

 

** The Company will continue to manage the discount at which the share price trades relative to its net asset value at around 5% if it should become necessary by means of repurchases of the Company's shares in the market.

 

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

 

 

Material Transactions

 

Changes to share capital


Issued Shares 





As at 1st January 2011

26,174,698


Shares bought back and cancelled

-


Shares cancelled from Treasury

Shares issued                                               

-

-

 


As at 31st March 2011

26,174,698


 

 

 

 


Shares held in Treasury 







As at 1st January 2011

447,966

 



Shares bought back into Treasury

-



Shares cancelled from Treasury

Shares sold from Treasury                                               

-

  68,500

 



As at 31st March 2011

379,466



 

The positive move in the Company's share price rating resulting from an increased demand for shares enabled the Company to sell 68,500 shares from Treasury at a premium to to net asset value during the period.

 

Portfolio Analyses

 

Ten largest holdings as at 31st March 2011****

 

Stock name

Country

Weight %




Rhodia

France

2.7

Intercontinental Hotels

United Kingdom

2.3

Royal Dutch Shell A

United Kingdom

2.3

Lanxess

Germany

2.2

InterOil

United States of America

2.1

Walt Disney

United States of America

2.0

JPMorgan Emerging Markets Inv Tst

United Kingdom

1.9

KBC

Belgium

1.9

First Quantum Minerals

Canada

1.9

Cookson

United Kingdom

1.8




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

 

Portfolio analysis as at 31st March 2011

 

Sector

Portfolio %



Basic Industries

15.4

Transport Services & Consumer Cyclicals

9.7

Energy

9.2

Industrial Cyclicals

8.6

Consumer Non Durable

7.5

Banks - Capital Markets

5.7

Insurance

5.5

Healthcare

5.4

Banks - Banks & Finance

4.5

Telecommunications

4.3

Retail

4.3

Media

4.2

Autos

3.6

Other

3.1

Utilities

2.4

Technology - Semi Conduct

1.8

Property

1.2

Technology - Hardware

1.0

Technology - Software

0.8

Cash

1.8

Total

100.0

 

 

Geographical

Portfolio %



Europe & Middle East ex UK

30.2

North America

25.6

United Kingdom

19.8

Japan

8.7

Pacific ex Japan

8.6

Emerging Markets

5.3

Cash

1.8

Total

100.0

 

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

 

17th May 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.jpmoverseas.co.uk


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