Information  X 
Enter a valid email address

JPMorgan Overseas (JMO)

  Print      Mail a friend       Annual reports

Thursday 17 November, 2011

JPMorgan Overseas

Interim Management Statement

RNS Number : 3250S
JPMorgan Overseas IT PLC
17 November 2011
 



JPMorgan Overseas Investment Trust plc

 

Interim Management Statement (Unaudited)

 

For the three months ended 30th September 2011

 

This interim management statement relates to the quarter from 1st July 2011 to 30th September 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

-4.5%

-19.7%

-13.9%

45.4%

28.9%

82.6%

Net asset value

-6.8%

-19.8%

-11.3%

34.4%

23.2%

62.2%

Benchmark

-5.3%

-14.9%

-4.9%

16.5%

7.6%

36.4%

Source: JPMAM/Morningstar

 

* Total return with net dividends reinvested

 

Financial position


As at 30th September 2011

As at 10th November 2011

Total assets

£189.2m

£192.6m

Share  price

692.3p

686.0p

Net asset value

Discount**

Actual Gearing***

702.1p

1.4%

99.6%

736.5p

6.9%

95.5%

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 events

 

There were no material events during the quarter.

 

Material events post 30th September 2011

 

At the Annual General Meeting ("AGM") of the Company held on 25th October 2011, all of the resolutions put to shareholders at the AGM were passed, including Special Resolutions to allow the Company to disapply pre-emption rights on the allotment of new Ordinary shares or by way of sale of Treasury shares up to an aggregate nominal amount of £654,368, representing 10% of the Company's total Ordinary share capital, and allow the Company to make market purchases of up to 3,923,587 ordinary shares representing 14.99% of the Company's issued share capital.

 

A final dividend of 13.5p per share will be paid on 25th November 2011 to shareholders on the register at the close of business on 4th November 2011.

 

 

 

Material Transactions

Changes to share capital


Issued Shares (incl. Shares held in Treasury)





 

As at 1st July 2011

26,174,698


 

Shares bought back and cancelled

-


 

Shares cancelled from Treasury

Shares issued                                               

-

-

 


 

As at 30th September 2011

26,174,698


 

 

During the quarter, the Company did not repurchase any shares or issue any new shares.  However, the Company did sell 40,000 shares from Treasury. As at 30th September 2011, 56,966 shares were held in Treasury.

 

Portfolio Analyses

 

Ten largest holdings as at 30th September 2011****

 

Stock name

Country

Weight %




Japan Tobacco

Japan

3.2

Associated British Foods

United Kingdom

2.6

Royal Dutch Shell A

United Kingdom

2.5

InterOil

United States of America

2.4

Sodexo

France

2.1

JPMorgan Emerging Markets Inv Tst

United Kingdom

1.9

ACE

Switzerland

1.9

Intercontinental Hotels

United Kingdom

1.9

Wells Fargo

United States of America

1.7

Bayer

Germany

1.7




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

 

 

Portfolio analysis as at 30th September 2011

 

Sector

Portfolio %



Financials

19.5

Industrials

17.6

Energy

14.0

Consumer Discretionary

12.6

Health Care

9.7

Consumer Staples

9.4

Materials

7.4

Telecommunication Services

3.7

Utilities

2.7

Information Technology

2.3

Cash

1.1

Total

100.0

 

 

 

Geographical

Portfolio %



North America

27.5

Europe & Middle East ex UK

27.5

United Kingdom

24.6

Japan

11.3

Emerging Markets

4.8

Developed Asia

3.2

Cash

1.1

Total

100.0

 

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

 

17th November 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.

 

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.jpmoverseas.co.uk 

 

 


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