Interim Management Statement

RNS Number : 1325M

JPMorgan Chinese Inv Tst PLC

10 August 2011

 



JPMorgan Chinese Investment Trust plc

("the Company")

Interim Management Statement (Unaudited)

For the three months ended 30th June 2011

This interim management statement relates to the quarter from 1st April 2011 to 30th June 2011 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	-4.1%	0.6%	18.3%	63.0%	109.5%	183.9%
Net asset value**	-2.2%	-0.6%	17.9%	54.9%	125.0%	154.1%
Benchmark	-1.5%	-0.8%	13.5%	45.5%	90.5%	133.7%

* Total return with net dividends reinvested.

** Capital only, diluted for Subscription shares.

Source: JPMAM/MorningStar.

Financial position

	As at 30th June 2011	As at 5th August 2011
Total assets	£142.5m	£131.2m
Share price*	158.9p	142.0p
Net asset value **	168.4p	153.9p
Discount	-5.6%	-7.8%
Gearing Subscription share price	106.0% 17.5p	107.3% 12.0p

*Share prices shown are closing bid.

** Cumulative Income, diluted for Subscription shares.

Source: JPMAM/MorningStar.

Material events

There were no material events during the period.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st April 2011	77,848,498
Shares held in Treasury at 1st April 2011	0
Shares repurchased and cancelled	-
Shares repurchased into Treasury	-
Shares issued - new	-
Shares issued - conversion of Subscription shares	15,360
Shares in issue at 30th June 2011	77,863,858
Shares held in Treasury at 30th June 2011	0

The Company has not repurchased any shares since the period end.

	Subscription Shares of 1p
Shares in issue as at 1st April 2011	12,749,910
Shares exercised	15,360
Shares repurchased	-
As at 30th June 2011	12,734,550

Since the period end, the Company has issued a further 763 Ordinary shares of 25p each following the exercise of conversion rights by a number of Subscription shareholders.

Portfolio Analyses

Top ten holdings as at 30th June 2011

Stock name	Country of Listing /Classification	% of Portfolio
JF China New Generation Fund	China-Others	4.0
China Construction Bank 'H'	China H-Shares	3.9
Taiwan Semiconductor	Taiwan	3.9
CNOOC	Hong Kong-Red Chip	3.5
JF China Pioneer 'A' Share Fund Cheung Kong	China A-Shares (indirect) Hong Kong-Others	2.8 2.7
Tencent	P Chip	2.6

Bank of China 'H'                                                    China H-Shares                            2.3

China Petroleum & Chemical                                   China H-shares                            2.0

China National Building Material                             China H-shares                            2.0

Sector breakdown as at 30th June 2011

Sector	% of Portfolio
Financials (including property)	44.3
Information Technology	15.8
Materials	9.8
Energy	8.1
Industrials	6.3
Consumer Discretionary	5.0
Consumer Staples	3.5
Utilities Telecommunication Services	2.3 2.2
Health Care	0.6
Cash	2.1
Total	100.0

Geographical breakdown as at 30th June 2011

Country	% of Portfolio
Taiwan	25.8
China-H	25.3
Hong Kong-Others	15.8
Hong Kong-P Chip	13.2
Hong Kong-Red Chip	8.6
China Others	4.7
China-A China-B	2.8 1.7
Cash	2.1
Total	100.0

By order of the Board

Christopher Cordrey, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

10th August 2011

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, fact sheets and portfolio information can be found at www.jpmchinese.co.uk

 

END

 

 

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