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JPMorgan Overseas (JMO)

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Friday 18 May, 2012

JPMorgan Overseas

Interim Management Statement

RNS Number : 6993D
JPMorgan Overseas IT PLC
18 May 2012
 



JPMorgan Overseas Investment Trust plc

 

Interim Management Statement (Unaudited)

 

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

 0.8%

9.6%

-7.5%

81.4%

41.0%

77.7%

Net asset value

 -0.2%

9.4%

-4.2%

76.5%

37.6%

64.7%

Benchmark

 0.6%

8.8%

-0.4%

58.0%

18.9%

41.8%

Source: JPMAM/Morningstar

 

* total return with net dividends reinvested

 

Financial position


As at 31st March 2012

As at 17th May 2012

Total assets

£213.9m

£194.6

Share  price

781.0p

699.0p

Net asset value

(Discount)/Premium**

Actual Gearing***

816.8p

(4.4)%

99.3%  

742.4p

(5.8)%

97.4%

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

 

On 4th January 2012 the Board of JPMorgan Overseas Investment Trust plc announced the appointment of Gay Collins as an independent non-executive Director of the Company, with effect from 21st February 2012.

 

Material Transactions

 

Changes to share capital


Issued Shares (incl. Shares held in Treasury)





 

As at 1st January 2012

26,174,698


 

Shares bought back and cancelled

-


 

Shares cancelled from Treasury

Shares issued 

As at 31st March 2012

                                             

-

-

26,174,698


 




 

 

During the quarter, the Company bought back 114,118 shares for holding in Treasury and did not issue any new shares.  As at 31st March 2012, 347,088 shares were held in Treasury.

 

Portfolio Analyses

 

Ten largest holdings as at 31st March 2012****

 

Stock name

Country

Weight %




Associated British Foods

United Kingdom

2.6

Citigroup

United States of America

2.4

InterOil

United States of America

2.4

Intercontinental Hotels

United Kingdom

2.3

Sodexo

France

2.2

Nokian Renkaat

Finland

2.1

United Health Group

United States of America

2.1

Wells Fargo

United States of America

2.0

JPMorgan Emerging Markets Inv Trust

Emerging Markets

2.0

ACE

Switzerland

1.9




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

 

Portfolio analysis as at 31st March 2012

 

Sector

Portfolio %



Transport Services & Consumer Cyclicals

14.0

Basic Industries

10.2

Healthcare

10.0

Industrial Cyclicals

9.7

Energy

9.2

Consumer Non Durable

8.9

Banks - Capital Markets

7.3

Insurance

4.4

Autos

4.4

Other

3.2

Utilities

2.5

Retail

2.4

Technology - Hardware

2.4

Media

2.4

Property

2.3

Banks - Banks & Finance

2.0

Technology - Semi Conduct

1.7

Technology - Software

1.2

Telecommunications

1.0

Cash

0.8

Total

100.0

 

 

Geographical

Portfolio %



North America

34.5

Europe & Middle East ex UK

25.9

United Kingdom

19.9

Pacific ex Japan

7.6

Japan

6.3

Emerging Markets

5.0

Cash

0.8

Total

100.0

 

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

 

18th 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.jpmoverseas.co.uk 

 


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