Interim Management Statement

RNS Number : 8006R

JPMorgan Emerging Mkts Invest Trust

30 October 2013

 



JPMorgan Emerging Markets 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	4.5%	-1.0%	4.5%	-1.2%	71.8%	366.7%
Net asset value	1.8%	-4.4%	2.8%	0.1%	64.9%	348.1%
Benchmark	1.7%	-0.9%	0.7%	-3.7%	56.0%	242.1%

* Total return using capital-only NAVs, with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th September 2013	As at 29th October 2013
Total assets	£757.4m	£798.5m
Share price	561.5p	593.0p
Subscription Share price	58.3p	63.5p
Diluted net asset value*	623.8p	659.5p
Net asset value+	630.7p	669.4p
Discount to diluted net asset value	10.0%	10.1%
Gearing/(Net Cash)	(3.7)%	(3.2)%

Share prices shown are closing, bid

 * Net asset value (cum income), assuming that all outstanding subscription shares have been converted into ordinary shares

+ Net asset value (cum income)

Source: JPMAM/Morningstar

Material events

Sarah Arkle was appointed a non-executive Director of the Company on 1^st September 2013.

Material events post 30^th September 2013

On 4^th October 2013 the Board announced that, subject to shareholder approval at the Annual General Meeting to be held on 18th November 2013, a dividend of 5.5 pence per share will be paid on 25th November 2013 to shareholders on the register at the close of business on 25th October 2013.

Final results for the year ended 30^th June 2013 were announced on 4^th October 2013. The Company outperformed its benchmark by 6.4%. The Annual Report has been published and the AGM is to be held on 18^th November 2013.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Ordinary shares in issue as at 1st July 2013	119,353,816
Shares bought back in to Treasury	56,705
Shares issued due to exercise of Subscription shares	5,021
Ordinary Shares in issue as at 30th September 2013 Subscription Shares in issue as at 30th September 2013	119,302,132 10,165,271

Since 30th September 2013, the Company has issued, due to exercise of Subscription shares, a further 697 shares and has bought back no shares into Treasury.

Portfolio Analyses

Top ten holdings as at 30th September 2013

Stock name	Country	Weight %
International Personal Finance	United Kingdom	3.6
Housing Development Finance	India	3.1
Taiwan Semiconductor Manufacturing ADS	Taiwan	2.9
Hyundai Motor	South Korea	2.8
Magnit	Russia	2.8
Tata Consultancy Services	India	2.4
AIA	Hong Kong	2.4
Ultrapar Participacoes	Brazil	2.4
China Mobile	Hong Kong	2.2
Ping An Insurance 'H'	China	2.0

Sector analysis as at 30th September 2013

Sector	Portfolio %
Financials	31.8
Consumer Staples	21.4
Information Technology	11.3
Industrials	9.5
Consumer Discretionary	8.6
Energy	5.5
Telecommunication Services	3.6
Materials	3.2
Health Care	0.8
Cash	4.3
Total	100.00

Geographical Analysis as at 30th September 2013

Country	Portfolio %
Brazil	17.0
India	14.6
South Africa	11.9
Hong Kong	10.4
China	7.7
Mexico	6.2
Taiwan	5.6
South Korea	4.4
Russia	4.1
Indonesia	3.8
UK	3.6
Turkey	2.5
Malaysia	1.5
Argentina	1.5
Chile	0.9
Cash	4.3
Total	100.00

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

30th October 2013

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.

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.jpmemergingmarkets.co.uk 

 

END

 

 

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