Interim Management Statement

RNS Number : 7016I

JPMorgan Glb Emerging Mkts Inc Tst

03 June 2014

 



JPMorgan Global Emerging Markets Income Trust plc

Interim Management Statement (unaudited)

for the three months ended 30th April 2014

This interim management statement relates to the quarter from 1st February 2014 to 30th April 2014 and contains information that covers that period, unless otherwise stated. 

Financial performance - Cumulative Total Return *

	1 month	3 months	1 year	3 year	Since inception
Share price	0.4%	7.3%	-9.1%	12.1%	25.5%
Benchmark	-0.9%	4.0%	-9.5%	-11.9%	1.5%
Net asset value	0.2%	6.8%	-9.8%	12.8%	30.0%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th April 2014	As at 30th May 2014
Total assets	£317.9m	£340.0m
Share price	113.8p	121.3p
Net asset value	110.5p	115.9p
Premium	2.9%	4.7%
Gearing	5.8%	5.7%

Share prices shown are closing, bid

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

Source: JPMAM/Morningstar

Material events

The results for the six months ended 31^st January 2014 were published on 26^th March 2014.

On 10th April 2014, the Company announced that its full portfolio as at 28th February 2014 was available on its website and that the Company would be publishing the historic portfolio information, as at the end of the previous month, on the Company's website on a monthly basis going forward.

Dividends

A second quarterly interim dividend of 1.0 pence per share for the year ending 31st July 2014 was paid on 16th April 2014 to shareholders on the register at the close of business on 14th March 2014.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Ordinary shares in issue as at 1st February 2014	258,604,438
Shares bought back and cancelled	-
New shares issued	4,935,000
Shares in issue as at 30th April 2014	263,539,438

Since the period end and up to the date of this announcement 6,250,000 shares have been issued and no shares have been repurchased for cancellation.

Portfolio

Top ten holdings as at 30th April 2014

Stock name	Sector	Weight %
Delta Electronics	Information Technology	2.2
Bidvest Group	Industrials	2.2
Quanta Computer	Information Technology	2.1
Siliconware Precision	Information Technology	2.0
Advanced Info Services	Telecommunication Services	1.9
Banco do Brasil	Financials	1.9
Bank of China	Financials	1.9
Siam Cement	Materials	1.8
Telekomunikasi Indonesia	Telecommunication Services	1.8
Taiwan Semiconductor	Information Technology	1.8

Sector analysis as at 30th April 2014

Sector	Portfolio %
Telecommunication Services	16.8
Financials	16.7
Information Technology	15.0
Energy	11.1
Consumer Discretionary	11.0
Industrials	10.1
Materials	7.4
Consumer Staples	6.7
Utilities Health Care	3.2 0.0
Cash	2.0
Total	100.0

Geographical Analysis as at 30th April 2014

Country	Portfolio %
China	18.6
Taiwan	16.8
South Africa	11.3
Brazil	10.7
Russia	7.3
Turkey	5.8
South Korea	5.3
Thailand	4.9
Saudi Arabia	4.3
Indonesia	3.6
Poland	1.9
Qatar	1.7
Others	5.8
Cash	2.0
Total	100.0

By order of the Board

Rebecca Burtonwood, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

3rd June 2014

Registered office: 60 Victoria Embankment, London EC4Y 0JP

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.jpmglobalemergingmarketsincome.co.uk 

 

END

 

 

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