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JPMorganInc&CapTst (JPI)

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Wednesday 18 January, 2012

JPMorganInc&CapTst

Interim Management Statement

RNS Number : 7633V
JPMorgan Income & Capital Trust PLC
18 January 2012
 



JPMorgan Income & Capital Trust plc

 

Interim Management Statement

 

For the three months ended 30th November 2011

 

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

-2.5%

2.7%

1.5%

Benchmark

-0.5%

2.2%

2.9%

 

* Shareholders' funds total return with net dividends reinvested

Source: JPMAM/Morningstar

 

Financial position

 


As at

30th Nov 2011

As at

9th Jan 2012

Total assets (£'000)

£104.7m

£106.5m

Gearing (ordinary shares)

214.8%

212.4%

Gearing (units)

113.0%

112.2%

 

Ordinary Shares

 

As at

30th Nov 2011

As at

9th Jan 2012

Net assets (£'000)

£45.8m

£47.3m

Net asset value per share

67.9p

70.1p

Market  price

60.0p

60.3p

Discount (-) / Premium (+)

-11.6%

-14.3%

 

Zero Dividend Preference Shares

As at

30th Nov 2011

As at

9th Jan 2012

Net assets (£'000)

£58.9m

£59.2m          

Net asset value per share

127.8p

128.4p

Market  price

126.8p

128.0p

Discount (-) / Premium (+)

-0.8%

-0.3%

 

 

Units

As at

30th Nov 2011

As at

9th Jan 2012

Net asset value per unit

263.5p

268.6p

Market Price

243.0p

244.2p

Discount (-) / Premium (+)

-7.8%

-9.07%

 

 

Share prices shown are closing mid market price.

Net asset values are shown capital only with debt at fair value

Source: JPMAM/Morningstar

 

 

 

Material Events

On 23rd November 2011, in accordance with Listing Rule 9.6.14 (2), the Board of JPMorgan Income & Capital Trust plc announced notification that Sir Laurence Magnus, a non-executive director of the Company, was appointed a non-executive director of Pantheon International Participations plc, a company listed on the main market in London, with effect from 22 November 2011.

Material transactions

 

Changes to share capital

 


Issued Ordinary Shares of 1p

Issued Zero Dividend Preference Shares of 1p




Shares in issue as at 1st September 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 30th November 2011

67,506,782

46,087,200

 

During the quarter, the Companydid not repurchase or issue any shares.

 

Declaration of dividends

 

On 28th October 2011, a second interim dividend of 1.30 pence per ordinary share for the year ending 29th February 2012 was paid to shareholders on the register at the close of business on 7th October 2011.

 

On 2nd December 2011 the Directors declared that a third interim dividend of 1.30 pence per ordinary share for the year ending 29th February 2012 would be paid on 27th January 2012 to shareholders on the register at the close of business on 6th January 2012.

 

Portfolio

 

Top ten holdings as at 30th November 2011

 

Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

9.5

Vodafone

Telecommunications

6.0

BP

Oil & Gas

5.3

GlaxoSmithKline

Health Care

4.9

British American Tobacco

Consumer Goods

4.3

HSBC Holdings

Financials

4.3

Rio Tinto

Basic Materials

3.3

AstraZeneca

Health Care

3.1

BHP Hilton

Basic Materials

2.9

BG Group

 

Oil & Gas

2.8

Sector analysis as at 30th November 2011

 

Sector

Portfolio %

Financials

17.8

Oil & Gas

Consumer Goods

17.6

11.6

Basic Materials

9.8

Industrials

9.7

Health Care

9.0

Telecommunications

8.8

Consumer Services

6.2

Utilities

5.1

Technology

0.7

Cash

3.7

Total

100.0

 

 

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

 

18th January 2012

 

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.jpmincomeandcapital.co.uk 


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