Interim Management Statement

RNS Number : 3149N

JPMorgan Asian Investment Tst PLC

13 February 2009

 



JPMorgan Asian Investment Trust plc

Interim Management Statement (unaudited)

For the three months ended 31st December 2008

This interim management statement relates to the quarter from 1st October 2008 to 

31st December 2008 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	24.5%	0.0%	-37.6%	5.5%	46.2%
Net asset value	22.1%	-4.0%	-40.1%	1.5%	47.1%
Benchmark	17.3%	-2.7%	-34.1%	6.2%	59.5%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 31st  December 2008	As at 12th  February 2009
Total assets	£233.3m	£221.7m
Share price	132.0p	131.8p
Net asset value	143.2p	138.1p
Discount	7.8%	4.6%
Gearing	94.4%	95.9%

Share prices shown are closing bid

Net asset values are shown with debt at par value

Source: JPMAM/Fundamental Data

Material Events

At the Annual General Meeting of the Company held on 4th February 2009, all of the Ordinary Resolutions put to shareholders were passed. In addition, two items of special business were passed which:

i)          allow the Company to make market purchases of up to 23,985,072 ordinary shares, representing 14.99% of the Company’s issued share capital; and

 

ii)          adopted new Articles of Association.

 

At a General Meeting of the Company, also held on 4th February 2009, the resolutions set out in the Circular dated 9th January 2009 in relation to the issue of Subscription Shares and the adoption of new Articles of Association were duly passed without amendment.

Material transactions 

Changes to share capital 

	Ordinary shares  of 25p
Ordinary shares in issue on 1st October 2008	160,007,154
Shares bought back and cancelled	-
Shares issued	-
As at 31st December 2008	160,007,154

During the quarter, the Company made no market purchases of its own shares for cancellation.

Portfolio

Top ten holdings as at 31st December 2008

Stock name	Sector	Weight %
China Mobile	Telecommunication Services	7.2
CNOOC	Energy	3.7
Samsung Electronics	Information Technology	3.6
Reliance Industries	Energy	3.4
Olam	Consumer Staples	3.1
China Life Insurance 'H'	Financials	2.7
Asia Cement	Materials	2.6
Capitaland	Financials	2.5
China Construction Bank 'H'	Financials	2.4
China Shenhua Energy 'H'	Energy	2.3

Sector breakdown as at 31st December 2008

	Portfolio %
Financials	31.1
Energy	11.5
Telecommunication Services	10.0
Consumer Staples	10.0
Industrials	9.0
Information Technology	7.4
Materials	7.4
Consumer Discretionary	6.7
Utilities	1.1
Health Care	0.0
Cash	5.8
Total	100.0

Geographical Breakdown as at 31st December 2008

	Portfolio %
Hong Kong	34.1
Singapore	13.6
China	13.4
South Korea	12.9
India	7.2
Taiwan	7.0
Indonesia	4.9
Thailand	1.1
Cash	5.8
Total	100.0

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

13th 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.  

 

END

 

 

IMSZGGMZKFKGLZM