Information  X 
Enter a valid email address

JPMorgan Claver IT (JCH)

  Print      Mail a friend       Annual reports

Wednesday 18 May, 2011

JPMorgan Claver IT

Interim Management Statement

RNS Number : 8697G
JPMorgan Claverhouse IT PLC
18 May 2011
 



JPMorgan Claverhouse Investment Trust plc

 

Interim Management Statement

 

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

-1.1%

-1.2%

8.9%

13.0%

9.3%

37.3%

Net asset value

-2.5%

1.4%

9.2%

15.2%

11.8%

50.2%

Benchmark

-0.8%

1.0%

8.7%

17.0%

20.0%

58.2%

 

* Total return with net dividends reinvested

Source: JPMAM/Morningstar

 

Financial position

 


As at 31st March 2011

As at 17th May 2011

Total assets

                 £314.5m

£310.7m

Share price

   457.8p

458.0p

Net asset value

   493.9p

496.5p

Discount

     7.3%

 7.8%

Gearing

      110.5%

110.8%

 

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

 

Material events

 

At the Annual General Meeting of the Company held on 12th April 2011, all of the resolutions put to shareholders were passed, including three items of special business which:

 

i)    allow the Directors of the Company to exercise all powers of the Company to allot shares in 
the Company up to an aggregate nominal amount of £692,119 representing approximately 5% of the Company's issued ordinary share capital as at the date of the passing of the resolution;

ii)   allow the disapplication of pre-emption rights on the allotment of new ordinary shares up to 
an aggregate nominal amount of £692,119; and

iii)  allow the Company to make market purchases of up to 8,299,885 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 January 2011

55,369,483

Shares bought back and cancelled

-

Shares bought into Treasury

-

Shares cancelled from Treasury

-

Shares issued

-

As at 31st March 2011

55,369,483

 

The Company has repurchased 102,000 shares into Treasury following the end of the quarter.

 

Portfolio

 

Top ten holdings as at 31st March 2011

 

Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

9.5

HSBC Holdings

Financials

6.7

Vodafone

Telecommunications

6.1

BP

Oil & Gas

5.0

BHP Billiton

Basic Materials

4.6

Rio Tinto

Basic Materials

4.5

AstraZeneca

Health Care

4.0

GlaxoSmithKline

Health Care

3.3

Anglo American

Basic Materials

2.7

BG Group

Oil & Gas

2.6

 

Sector analysis as at 31st March 2011

 


Portfolio %

Financials

25.0

Oil & Gas

19.9

Basic Materials

16.2

Health Care

7.7

Consumer Services

7.4

Consumer Goods

7.3

Telecommunications

7.3

Industrials

5.3

Utilities

1.7

Technology

1.1

Cash

1.1

Total

100.0

 

 

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

18th May 2011

 

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.

 

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement

 

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

 

ENDS 

 

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
 
 
IMSBLGDUGBBBGBI