Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

JP Morgan Fleming (JPGI)

  Print      Mail a friend

Wednesday 10 March, 2004

JP Morgan Fleming

Interim Results

JPMorgan Fleming Overseas IT PLC
10 March 2004

                          STOCK EXCHANGE ANNOUNCEMENT


                          UNAUDITED INTERIM RESULTS

The Directors of JPMorgan Fleming Overseas Investment Trust plc announce the
Company's unaudited results for the period ended 31st December 2003.

The Company's performance over the six months to 31st December 2003 was a
welcome improvement over that of previous accounting periods and reflected a
significant turnaround in world stockmarkets. I am pleased to report a total
return to shareholders of +13.7% and a return on net assets of +12.3%. These
were both well ahead of the benchmark which itself rose +10.4%.

This outperformance can be attributed in part to the Company's more flexible
gearing arrangements that are now in place and operating very effectively. This
factor should prove an important contributor to the Company's performance
throughout all stages of the cycle.

The Board continues to monitor the level of discount both in absolute terms and
against a peer group of investment trusts. In accordance with guidelines set by
the Board, the Company's stockbroker is authorised to buy in shares. This
facility has been used on two occasions since the end of the reporting period.

The record consumer credit levels fuelled by continuing low interest rates in
the US are a concern. Given the Company's high exposure to the US markets, these
factors, when coupled with a weak dollar, will inevitably present challenges for
the investment managers. However, in this election year, a number of
shorter-term fiscal stimuli can be expected from the incumbent administration
and it is likely that these should soften any adverse reaction that might
otherwise occur.

George Paul
Chairman        10th March 2004

For further information please contact:

Philip Jones
J.P. Morgan Fleming Asset Management (UK) Limited - Secretary
Telephone: 020 7742 6000

JP Morgan  Fleming Overseas Investment Trust plc
Unaudited figures for the six months ended 31 December 2003
Statement of Total Return (Unaudited)
                         Six months to 31 December 2003  Six months to 31 December 2002       Year to 30 June 2003
                          Revenue     Capital     Total   Revenue   Capital       Total   Revenue    Capital     Total
                            £'000       £'000     £'000     £'000     £'000       £'000     £'000      £'000     £'000

Realised gain /
(losses) on investments         -       5,479     5,479         -  (10,379)    (10,379)         -        185       185
Net change in
unrealised losses               -      26,380    26,380         -  (53,564)    (53,564)         -   (44,595)  (44,595)
Currency (losses) /
gains on cash and
deposits                        -        (28)      (28)         -       226         226         -      (173)     (173)
Unrealised gain on
currency hedge                  -           -         -         -       343         343         -          -         -
Realised gains on
currency hedge                  -           -         -         -         -           -         -        769       769
Other capital charges           -        (39)      (39)         -      (41)        (41)         -       (66)      (66)
UK income                     518           -       518       299         -         299     1,219          -     1,219
Unfranked income            2,349           -     2,349     2,837         -       2,837     6,397          -     6,397
Deposit interest              158           -       158       453         -         453       635          -       635
Stock lending fees              8           -         8         2         -           2         -          -         -
                          _______    ________   _______    ______   _______    ________   _______    _______   _______

Gross return                3,033      31,792    34,825     3,591  (63,415)    (59,824)     8,251   (43,880)  (35,629)
Management fee              (342)       (342)     (684)     (397)     (397)       (794)     (716)      (716)   (1,432)
Other administrative
expenses                    (301)           -     (301)     (264)         -       (264)     (529)          -     (529)
Performance fee                 -         611       611         -       962         962         -        980       980
Interest payable            (160)       (160)     (320)     (958)     (958)     (1,916)   (1,363)    (1,363)   (2,726)
                          _______     _______   _______    ______   _______     _______   _______    _______   _______

Return before taxation      2,230      31,901    34,131     1,972  (63,808)    (61,836)     5,643   (44,979)  (39,336)
Taxation                    (278)           -     (278)     (307)        64       (243)   (1,796)        886     (910)
                           ______     _______   _______    ______   _______      ______   _______    _______   _______

Total return
attributable to
ordinary shareholders       1,952      31,901    33,853     1,665  (63,744)    (62,079)     3,847   (44,093)  (40,246)
Dividend (s) payable on
ordinary shares                 -           -         -         -         -           -   (3,547)          -   (3,547)
                           ______     _______   _______    ______   _______     _______    ______    _______   _______
Transfer to/ (from)
reserves                    1,952      31,901    33,853     1,665  (63,744)    (62,079)       300   (44,093)  (43,793)

Return per ordinary         
share                       2.75p      44.97p    47.72p     2.35p  (89.87)p    (87.52)p     5.42p   (62.16)p  (56.74)p

Dividend (s) per
ordinary share                  -                               -                           5.00p

JP Morgan Fleming Overseas Investment Trust plc
Unaudited figures for the six months ended 31 December 2003

BALANCE SHEET                                                        31 December     31 December         30 June
                                                                            2003            2002            2003
                                                                           £'000           £'000           £'000

Investments at valuation                                                 343,643         330,958         326,986

Net current assets                                                         8,954             189           2,369

Creditors (amounts falling due after more than one year)                (10,200)        (40,091)        (20,200)

Provisions for liabilities and charges                                   (2,595)         (3,393)         (3,206)
                                                                         _______         _______         _______
Total net assets                                                         339,802         287,663         305,949
                                                                         =======         =======         =======
Net asset value per ordinary share                                        479.1p          405.6p          431.3p

CASH FLOW STATEMENT                                                  31 December     31 December         30 June
                                                                            2003            2002            2003
                                                                           £'000           £'000           £'000

Net cash (outflow) / inflow from operating activities                    (1,095)             900           4,197

Net cash outflow from returns on investments and servicing
of finance                                                                 (407)         (4,873)         (2,639)

Total tax recovered                                                            -               -             358

Net cash inflow from capital expenditure and financial
investment                                                                17,566          16,455          39,909

Total equity dividends paid                                              (3,457)         (2,980)         (2,979)

Net cash outflow from financing                                         (10,000)               -        (59,758)
                                                                         _______          ______          ______
Increase / (decrease)  in cash for the period                              2,517           9,502        (20,912)
                                                                         =======          ======          ======

The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. The comparative financial
information is based on the statutory accounts for the year ended 30th June
2003. These accounts, upon which the auditors issued an unqualified opinion,
have been delivered to the Registrar of Companies.

10th March 2003

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

a d v e r t i s e m e n t