Interim Management Statement

RNS Number : 5950C

JPMorgan Emerging Mkts Invest Trust

16 November 2009

 



JPMorgan Emerging Markets Investment Trust plc

Interim Management Statement (unaudited)

For the three months ended 30th September 2009

This interim management statement relates to the quarter from 1st July 2009 to 30th September 2009 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	8.9%	21.7%	35.5%	45.7%	198.0%	335.9%
Net asset value	10.0%	20.8%	27.3%	41.4%	177.9%	273.2%
Benchmark	11.2%	24.5%	32.7%	46.9%	151.3%	203.5%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 30th September 2009	As at 13th November 2009
Total assets	£566.8m	£564.0m
Share price	455.1p	468.3p
Subscription Share price	54.3p	68.0p
Net asset value	487.0p	495.7p
Discount	6.6%	5.5%
Gearing	99.3%	99.6%

Share prices shown are closing bid

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

Source: JPMAM/Fundamental Data

Material events 

There were no material events during the quarter.

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Ordinary shares in issue as at 1st July 2009	110,303,742
Shares bought back and cancelled	-
Shares issued due to exercise of Subscription shares	48,141
Shares in issue as at 30th September 2009	110,351,883

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

Portfolio

Top ten holdings as at 30th September 2009

Stock name	Sector	Weight %
Petroleo Brasileiro ADR	Energy	6.7
Companhia Vale de Rio Doce ADR	Materials	5.3
Housing Development Finance	Financials	3.4
China Merchants Bank 'H'	Financials	3.4
Infosys Technologies ADR	Information Technology	2.8
Magnit	Consumer Staples	2.7
Banco Itau	Financials	2.7
Sberbank Russia	Financials	2.6
MTN	Telecommunication Services	2.5
Bharti Airtel	Telecommunication Services	2.4

Sector analysis as at 30th September 2009

Sector	Portfolio %
Financials	26.6
Consumer Staples	14.9
Materials	12.1
Consumer Discretionary	11.3
Telecommunication Services	11.2
Energy	9.0
Information Technology	8.5
Industrials	3.9
Health Care	1.7
Cash	0.8
Total	100.00

Geographical Analysis as at 30th September 2009

Country	Portfolio %
Brazil	18.9
India	11.1
China	10.8
South Africa	10.3
Mexico	8.6
Hong Kong	8.4
South Korea	7.7
Russia	6.9
Taiwan	4.5
Other	2.8
Egypt	2.2
Indonesia	1.6
Turkey	1.6
UK	1.6
Israel	1.4
Chile	0.8
Cash	0.8
Total	100.00

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

16th November 2009

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.jpmemergingmarkets.co.uk 

 

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