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JPMorganInc&CapTst (JPI)

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Tuesday 12 July, 2011

JPMorganInc&CapTst

Interim Management Statement

RNS Number : 2592K
JPMorgan Income & Capital Trust PLC
12 July 2011
 



JPMorgan Income & Capital Trust plc

 

Interim Management Statement

 

For the three months ended 31st May 2011

 

This interim management statement relates to the quarter from 1st March 2011 to 31st May 2011 and contains information that covers that period, unless otherwise stated. 

 

Financial performance - Cumulative Total Return *

 


1 month

3 months

 

1 year

 





Net asset value

-0.82

2.08

21.70

Benchmark

-0.57

1.53

18.96

 

* Shareholder's funds total return with net dividends reinvested

Source: JPMAM/Morningstar

 

Financial position

 


As at

31st May 2011

As at

11th July 2011

Total assets (£'000)

£114,316

£114,294

Gearing (ordinary shares)

191%

195%

Gearing (units)

109%

112%

 

Ordinary Shares

 

As at

31st May 2011

As at

11th July 2011

Net assets (£'000)

£57,332

£57,000

Net asset value per share

84.9p

84.4p

Share  price

77.0p

74.6p

Discount (-) / Premium (+)

-9.3%

-11.6

 

Zero Dividend Preference Shares

As at

31st May 2011

As at

11th July 2011

Net assets (£'000)

£56,984

£57,295

Net asset value per share

123.6p

124.3p

Share  price

132.8p

135.0p

Discount (-) / Premium (+)

+7.4%

+8.6%

 

 

 

 

Share prices shown are closing bid

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 March 2011

67,506,782

46,087,200

Shares bought back and cancelled

-

-

Shares bought back into treasury

-

-

Shares issued - from treasury

-

-

Shares issued

-

-

As at 31st May 2011

67,506,782

46,087,200

 

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

 

Declaration of Dividends and AGM Statement

 

On 29th June 2011 the Directors declared that a first interim dividend of 1.30 pence per ordinary share for the year ending 29th February 2012 would be paid on 29th July 2011 to shareholders on the register at the close of business on 8th July 2011.

 

Annual General Meeting ("AGM")

 

The Company held its AGM on 5th July 2011. The Board is pleased to report that all of the resolutions put to the shareholders were passed.

 

Portfolio

 

Top ten holdings as at 31st May 2011

 

Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

8.8

HSBC Holdings

Financials

6.3

Vodafone

Telecommunications

5.5

BHP Billiton

Basic Materials

4.2

GlaxoSmithKline

Health Care

4.1

Rio Tinto

Basic Materials

3.9

British American Tobacco

Consumer Goods

3.9

AstraZeneca

Health Care

3.3

BP

Oil & Gas

3.2

BG Group

Oil & Gas

2.3

 

 

 

 

Sector analysis as at 31st May 2011

 


Portfolio %

Financials

20.7

Oil & Gas

14.8

Basic Materials

13.5

Industrials

11.5

Telecommunications

8.4

Health Care

7.5

Consumer Goods

7.4

Consumer Services

6.7

Utilities

5.2

Technology

0.0

Cash

4.3

Total

100.0

 

 

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

12th July 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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