Interim Management Statement

RNS Number : 6805G

JPMorgan Claverhouse IT PLC

24 October 2008

 



JPMorgan Claverhouse Investment Trust plc

Interim Management Statement

For the three months ended 30th September 2008

This interim management statement relates to the quarter from 1st July 2008 to 30th September 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	10 Years
Share price	-15.9%	-15.0%	-25.3%	-4.9%	44.9%	23.1%
Net asset value	-15.3%	-15.0%	-25.0%	-3.8%	48.6%	35.6%
Benchmark	-13.2%	-12.2%	-22.3%	0.0%	44.5%	43.3%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 30th September 2008	As at 23rd October 2008
Total assets	£271.0m	£218.4m
Share price	388.0p	318.0p
Net asset value	415.6p	335.2p
Discount	6.6%	5.1%
Gearing	108.3%	113.4%

Share prices shown are closing bid

Net asset values are shown excluding income with debt at fair value

Source: JPMAM/Fundamental Data

Material events 

Humphrey van der Klugt was appointed a Director with effect from 1st September 2008.

A second quarterly interim dividend of 3.5p was paid on 1st September 2008.

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Shares in issue as at 1st July 2008	57,456,153
Shares bought back and cancelled	587,000
Shares issued	-
As at 30th September 2008	56,869,153

During the quarter, the Company made market purchases of 587,000 of its own shares for cancellation, representing 0.99% of the shares in issue at the beginning of the financial year. The Company has not issued any shares in this financial quarter.

Portfolio

Top ten holdings as at 30th September 2008

Stock name	Sector	Weight %
Royal Dutch Shell	Oil & Gas	8.4
HSBC	Financials	7.0
BP	Oil & Gas	6.8
GlaxoSmithKline	Health Care	4.8
AstraZeneca	Health Care	4.4
Vodafone	Telecommunications	3.7
British American Tobacco	Consumer Goods	3.6
Unilever	Consumer Goods	3.4
BHP Billiton	Basic Materials	3.1
Rio Tinto	Basic Materials	3.1

Sector analysis as at 30th September 2008

	Portfolio %
Financials	27.5
Oil & Gas	20.7
Basic Materials	9.6
Health Care	9.1
Consumer Goods	8.4
Industrials	5.9
Telecommunications	5.2
Utilities	4.7
Consumer Services	4.4
Technology	0.4
Cash	4.1
Total	100.00

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

24th October 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.jpmclaverhouse.co.uk 

 

END

 

 

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