Information  X 
Enter a valid email address

JPMorgan Claver IT (JCH)

  Print      Mail a friend       Annual reports

Thursday 17 May, 2012

JPMorgan Claver IT

Interim Management Statement

RNS Number : 5514D
JPMorgan Claverhouse IT PLC
17 May 2012
 



JPMorgan Claverhouse Investment Trust plc

 

Interim Management Statement

 

For the three months ended 31st March 2012

 

This interim management statement relates to the quarter from 1st January 2012 to 31st March 2012 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

-0.5%

4.3%

-2.8%

66.8%

-6.3%

42.7%

Net asset value

-1.6%

7.2%

-2.3%

65.3%

-2.9%

52.7%

Benchmark

-0.9%

6.1%

1.4%

67.9%

9.5%

65.6%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

 

Financial position


As at 31st March 2012

As at 15th May 2012

Total assets

                 £304.8m

£287.5m

Share price

   426.0p

398.0p

Net asset value

   470.7p

426.7p

Discount

     9.5%

6.7%

Gearing

      114.2%

114.8%

 

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

 

Material events

 

On 1st March 2012 a fourth quarterly interim dividend of 7.75 pence per share for the year ended 31st December 2011 was paid to shareholders on the register at the close of business on 10th February 2012.

 

Material events since the period end

 

Following the Annual General Meeting of the Company held on 20th April 2012, the Board announced that all of the Ordinary Resolutions put to shareholders were passed.  In addition, three items of special business were passed 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 £684,049 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 £684,049; and

iii)   allow the Company to make market purchases of up to 8,203,124 ordinary shares, representing 14.99% of the Company's issued share capital.

 

On 20th April 2012, the Directors declared that a first quarterly interim dividend of 3.50 pence per share for the year ending 31st December 2012 would be paid on 1st June 2012 to shareholders on the register at the close of business on 4th May 2012.

 

On 26th April 2012 the Board announced that the Association of Investment Companies ('AIC') had confirmed that the Company's application to move from the AIC UK Growth sector to the AIC UK Growth & Income sector had been approved and took effect on 1st May 2012.

 

Material transactions

Changes to share capital


Ordinary Shares of 25p

Shares in issue as at 1st January 2012

54,733,979

Shares bought back and cancelled

-

Shares bought into Treasury

10,000

Shares cancelled from Treasury

-

Shares issued

-

As at 31st March 2012

54,723,979

 

The Company has not bought back and cancelled, or issued any shares since the end of the quarter.

 

Portfolio Analyses

 

Top ten holdings as at 31st March 2012

 

Stock name

Sector

Weight %

Royal Dutch Shell

Oil & Gas

7.9

BP

Oil & Gas

6.1

HSBC Holdings

Financials

4.9

Vodafone

Telecommunications

4.6

GlaxoSmithKline

Health Care

4.2

British American Tobacco

Consumer Goods

3.5

Rio Tinto

Basic Materials

3.3

AstraZeneca

Health Care

3.0

Prudential

Financials

2.8

Barclays

Financials

2.5

 

Sector analysis as at 31st March 2012

 


Portfolio %

Financials

20.8

Oil & Gas

17.5

Consumer Goods

12.7

Industrials

9.7

Basic Materials

9.6

Consumer Services

9.0

Health Care

8.0

Telecommunications

6.8

Utilities

2.4

Technology

1.1

Cash

2.4

Total

100.00

 

 

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

 

17th May 2012

 

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

Telephone: 020 7742 4000

 

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
 
 
IMSGIGDUBGBBGDR