Interim Management Statement

RNS Number : 8697G

JPMorgan Claverhouse IT PLC

18 May 2011

 



JPMorgan Claverhouse Investment Trust plc

Interim Management Statement

For the three months ended 31^st March 2011

This interim management statement relates to the quarter from 1st January 2011 to 31^st March 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	-1.1%	-1.2%	8.9%	13.0%	9.3%	37.3%
Net asset value	-2.5%	1.4%	9.2%	15.2%	11.8%	50.2%
Benchmark	-0.8%	1.0%	8.7%	17.0%	20.0%	58.2%

* Total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st March 2011	As at 17th May 2011
Total assets	£314.5m	£310.7m
Share price	457.8p	458.0p
Net asset value	493.9p	496.5p
Discount	7.3%	7.8%
Gearing	110.5%	110.8%

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

Material events

At the Annual General Meeting of the Company held on 12^th April 2011, all of the resolutions put to shareholders were passed, including three items of special business which:

i)    allow the Directors of the Company to exercise all powers of the Company to allot shares in 
the Company up to an aggregate nominal amount of £692,119 representing approximately 5% of the Company's issued ordinary share capital as at the date of the passing of the resolution;

ii)   allow the disapplication of pre-emption rights on the allotment of new ordinary shares up to 
an aggregate nominal amount of £692,119; and

iii)  allow the Company to make market purchases of up to 8,299,885 ordinary shares, representing 14.99% of the Company's issued share capital.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st January 2011	55,369,483
Shares bought back and cancelled	-
Shares bought into Treasury	-
Shares cancelled from Treasury	-
Shares issued	-
As at 31st March 2011	55,369,483

The Company has repurchased 102,000 shares into Treasury following the end of the quarter.

Portfolio

Top ten holdings as at 31^st March 2011

Stock name	Sector	Weight %
Royal Dutch Shell	Oil & Gas	9.5
HSBC Holdings	Financials	6.7
Vodafone	Telecommunications	6.1
BP	Oil & Gas	5.0
BHP Billiton	Basic Materials	4.6
Rio Tinto	Basic Materials	4.5
AstraZeneca	Health Care	4.0
GlaxoSmithKline	Health Care	3.3
Anglo American	Basic Materials	2.7
BG Group	Oil & Gas	2.6

Sector analysis as at 31^st March 2011

	Portfolio %
Financials	25.0
Oil & Gas	19.9
Basic Materials	16.2
Health Care	7.7
Consumer Services	7.4
Consumer Goods	7.3
Telecommunications	7.3
Industrials	5.3
Utilities	1.7
Technology	1.1
Cash	1.1
Total	100.0

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

18th May 2011

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

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.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

ENDS 

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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