Interim Management Statement

RNS Number : 0570S

JPMorgan Claverhouse IT PLC

01 November 2013

 



JPMorgan Claverhouse Investment Trust plc

Interim Management Statement

For the three months ended 30th September 2013

This interim management statement relates to the quarter from 1st July 2013 to 30th September 2013 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	3.6%	10.2%	39.4%	47.5%	82.9%	164.7%
Net asset value	2.3%	7.2%	30.1%	39.6%	72.8%	156.7%
Benchmark	1.1%	5.6%	18.9%	33.4%	66.2%	140.2%

* total return, using capital only NAVs, with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th September 2013	As at 31st October 2013
Total assets	£387.9m	£404.6m
Share price	566.50p	590.00p
Net asset value	584.06p	610.35p
Discount	3.0%	3.3%
Gearing	16.2%	17.5%

Share prices shown are closing bid

Net asset values are shown with debt at fair value on a cum income basis

Source: JPMAM/Morningstar

Material events

A second quarterly interim dividend of 4.5p was paid on 2nd September 2013.

Half year results were released on 2^nd August 2013.

It was announced on 4^th September 2013 that Jane Tufnell would be appointed as a non-executive Director of the company with effect from 1^st October 2013.

Material events post 30^th September 2013

On 23^rd October 2013 the Directors declared that a third quarterly interim dividend of 4.50 pence per share will be paid on 2^nd December 2013 to shareholders on the register at the close of business on 1^st November 2013.

From 1^st October 2013, Humphrey van der Klugt succeeded Virginia Holmes as Chairman of the Audit Committee.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st July 2013	54,723,979
Shares bought back and cancelled	-
Shares bought into Treasury	-
Shares cancelled from Treasury	-
Shares issued	-
As at 30th September 2013	54,723,979

A total of 2,041,674 shares are currently held in Treasury. The Company has not bought back or issued any shares during or since financial quarter.

Portfolio Analyses

Top ten holdings as at 30th September 2013

Stock name	Sector	Weight %
Royal Dutch Shell	Oil & Gas	6.7
HSBC Holdings	Financials	6.5
Vodafone	Telecommunications	5.9
BP	Oil & Gas	4.7
GlaxoSmithKline	Health Care	4.2
Lloyds Banking Group	Financials	3.4
British American Tobacco	Consumer Goods	3.1
BT	Telecommunications	3.1
Prudential	Financials	3.0
Rio Tinto	Basic Materials	2.9

Sector analysis as at 30th September 2013

	Portfolio %
Financials	28.7
Consumer Services	13.2
Oil & Gas	11.9
Consumer Goods	11.2
Telecommunications	9.0
Industrials	7.9
Health Care	6.8
Basic Materials	5.8
Utilities	2.4
Technology	2.2
Cash	0.9
Total	100.00

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

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

Telephone: [phone]

1^st November 2013

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

 

 

IMSBRBDBLGGBGXB