Interim Management Statement

RNS Number : 4081N

JPMorgan Indian Invest Trust PLC

16 February 2009

 



JPMorgan Indian Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 31st December 2008 

This interim management statement relates to the quarter from 1st October 2008 to 31st December 2008 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	10.3%	-11.1%	-46.8%	-1.5%	97.8%	586.5%
Net asset value	13.2%	-11.4%	-49.5%	9.4%	111.8%	442.1%
Benchmark	17.1%	-13.1%	-51.0%	10.4%	88.6%	248.3%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 31st December 2008	As at 13th February 2009
Total assets	£277.9m	£276.6m
Share price	240.0p	246.0p
Net asset value  Discount/Premium  Gearing Subscription share price	262.0p -8.4% 93.2% 45.5p	260.6p   -5.6%   95.4% 35.0p

Share prices shown are closing bid

Net asset values are shown with debt at par value

Source: JPMAM/Fundamental Data

Material events 

At a General Meeting held on 30th October 2008, shareholders approved the bonus issue of subscription shares, placing and offer for subscription as described in the Company's Prospectus dated 30th September 2008.

Material transactions 

Changes to share capital 

		Issued Shares
As at 1st October 2008		104,749,662
Shares bought back and cancelled		-
Shares bought back into Treasury		-
Shares cancelled from Treasury		-
Shares issued		261,944
As at 31st December 2008		105,011,606

On 4th November 2008, as part of a bonus issue of subscription shares, placing and offer the Company issued 261,944 new ordinary shares and 21,001,937 subscription shares. Of the 105,011,606 ordinary shares in issue, 1,979,788 shares are held in Treasury.  

Portfolio Analyses 

Ten largest holdings as at 31st December 2008

Stock name	Sector	Weight %
Reliance Industries	Energy	11.8
HDFC Bank	Financial	7.4
Infosys Technologies	Information Technology	7.2
Housing Development Finance	Financials	6.2
Bharti Airtel	Telecommunication Services	6.0
Bharat Heavy Electricals	Industrials	5.6
ITC	Consumer Staples	5.3
ICICI Bank	Financials	5.3
Larsen & Toubro	Industrials	3.6
National Thermal Power	Utilities	3.5

Portfolio analysis as at 31st December 2008

Sector	Portfolio %
Financials	27.2
Energy	16.2
Industrials	11.9
Information Technology	8.7
Utilities	7.6
Telecommunication Services	7.3
Consumer Staples	6.9
Health Care	4.5
Materials	3.0
Consumer Discretionary	1.8
Cash	4.9
Total	10.0

By order of the Board

Andrew Norman, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

16th February 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.jpmindian.co.uk

 

END

 

 

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