Interim Management Statement

JPMorgan Asian Investment Tst PLC
04 February 2008

                      JPMorgan Asian Investment Trust plc

                          Interim Management Statement

                 For the three months ended 31st December 2007



This interim management statement relates to the quarter from 1st October 2007
to 31st December 2007 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
Share price                2.5%           1.0%            42.0%         138.5%         210.0%
Net asset value            1.8%           3.5%            43.0%         133.1%         242.0%
Benchmark                  2.9%           3.2%            37.8%         121.1%         218.8%



* total return with net dividends reinvested

Source: JPMAM/Fundamental Data



Financial position


                          As at 31st December 2007          As at 1st February 2008
Total assets              £413.3m                           £368.1m
Share price               213.0p                            186.75p
Net asset value           240.44 p                          213.64p
Discount                  11.41%                            12.59%
Gearing                   103.2%                            98.13%



Share prices shown are closing bid

Net asset values are shown with debt at fair value

Source: JPMAM/Fundamental Data



Material events



Following a ruling by the European Court of Justice, HM Revenue and Customs has
recently accepted that VAT will no longer be charged on investment management
fees.  For the Company it may also be possible to recover some of the VAT paid
in the past on management fees. The amount of any such repayment is subject to a
number of legal and procedural considerations, and it may take some time for
confirmation of entitlement to any refunds and the timing of any repayments to
be determined.



At the Company's Annual General Meeting held on 1st February 2008, all
resolutions were passed, including a resolution for the Company's continuation
for a further period of three years.  Mr Christopher Penn retired from the Board
following the Annual General Meeting.  It is intended that a new Director will
be appointed in the near future.



Material transactions



Changes to share capital


                                                                 Shares of 25p

Shares in issue as at 1st October 2007                             160,007,154
Shares bought back and cancelled                                             -
Shares issued                                                                -
As at 31st December 2007                                           160,007,154



During the quarter, the Company made market purchases of 50,000 its own shares
for cancellation, representing 0.13% of the shares outstanding at the beginning
of the financial year, at an average discount of 9.5%.



Portfolio



Top ten holdings as at 31st December 2007


Stock name                             Sector                         Weight %
JPMorgan Funds/JF India Fund           Investment Companies           7.5
Reliance Industries                    Energy                         4.0
China Mobile                           Telecommunication Services     3.8
Cheung Kong                            Financials                     2.7
PTT                                    Energy                         2.4
Daelim Industrial                      Industrials                    2.3
United Tractors                        Industrials                    2.3
IOI                                    Consumer Staples               2.3
China Life Insurance                   Financials                     2.2
Bank Rakyat Indonesia                  Financials                     2.2





Sector breakdown as at 31st December 2007


                                                      Portfolio %
Financials                                            25.9
Consumer Discretionary                                14.9
Industrials                                           12.9
Consumer Staples                                      11.6
Materials                                             8.5
Energy                                                7.7
Information Technology                                7.3
Telecommunication Services                            6.7
Health Care                                           1.0
Utilities                                             0.0
Cash                                                  3.5
Total                                                 100.00



Geographical Breakdown as at 31st December 2007
                                                      Portfolio %
Hong Kong                                             24.4
South Korea                                           15.7
India                                                 12.5
Indonesia                                             9.7
Taiwan                                                8.9
China                                                 7.5
Singapore                                             7.2
Malaysia                                              4.9
Thailand                                              2.4
United States                                         2.2
Australia                                             1.1
Philippines                                           0.0
Pakistan                                              0.0
United Kingdom                                        0.0
Other                                                 0.0
Cash                                                  3.5
Total                                                 100.00







By order of the Board

Philip Jones, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

4th February 2008



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

Telephone: [phone]





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.



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.jpmasian.co.uk.


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