Interim Management Statement

RNS Number : 8979G

JPMorgan Indian Invest Trust PLC

09 February 2010

 



JPMorgan Indian Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 31^st December 2009

This interim management statement relates to the quarter from 1st October 2009 to 31^st December 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	2.4%	3.8%	57.5%	23.5%	161.1%	322.2%
Net asset value	4.8%	5.7%	53.5%	26.8%	169.7%	249.1%
Benchmark	5.2%	6.7%	80.6%	50.5%	206.7%	235.7%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position

	As at 31st December 2009	As at 8th February 2010
Total assets	£462.3m	£447.6m
Share  price	378.0p	350.0p
Net asset value Discount/Premium Gearing Subscription share price	402.1p -6.0% 99% 135.5p	382.5p    -8.5%  98.3 % 108.5p

Share prices shown are closing bid

Net asset values are shown with debt at par value

Source: JPMAM/Fundamental Data

Material events

At the Company's Annual General Meeting ('AGM') held on 25th January 2010, resolutions were passed, including Special Resolutions which would allow the Company to allot relevant securities up to an aggregate nominal amount of £2,745,435 or, if less 10% of the total ordinary share capital, to disapply pre-emption rights on such allotments, to make market purchases of up to 16,198,338 ordinary shares or 2,691,091 subscription shares, representing 14.99% of the Company's issued share capital, and to adopt new Articles of Association.

Material transactions

Changes to share capital

	Ordinary Shares	Subscription Shares
As at 1st October 2009	108,633,119	17,380,424
Shares bought back and cancelled	-	-
Shares bought back into Treasury	-	-
Shares cancelled from Treasury	-	-
Shares exercised	-	1,184,422
Shares issued	1,184,422	-
As at 31st December 2009	109,817,541	16,196,002

During the period 1st October 2009 to 31st December 2009 the holders of 1,184,422 subscription shares elected to convert their shares into ordinary shares. Of the 109,817,541 ordinary shares in issue as at 31st December 2009, 1,979,788 shares were held in Treasury. 

Portfolio Analyses

Ten largest holdings as at 31^st December 2009

Stock name	Sector	Weight %
Reliance Industries	Energy	12.0
Infosys Technologies	Information Technology	10.8
HDFC Bank	Financials	6.7
Housing Development Finance	Financials	6.7
ICICI Bank	Financials	6.0
Bharat Heavy Electricals	Industrials	4.9
Tata Consultancy Services	Information Technology	3.5
Tata Motors	Industrials	2.8
Maruti Suzuki India	Consumer Discretionary	2.7
Infrastructure Development Finance	Financials	2.7

Portfolio analysis as at 31^st December 2009

Sector	Portfolio %
Financials	30.1
Energy	15.8
Information Technology	14.2
Industrials	12.4
Materials	9.8
Consumer Discretionary	5.6
Utilities	4.6
Health Care	3.9
Consumer Staples	2.6
Telecommunication Services	0.0
Cash	1.0
Total	100.0

By order of the Board

Andrew Norman, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

9th February 2010

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

 

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