Interim Management Statement

RNS Number : 3565X

JPMorgan Fleming Japanese Smllr Cos

12 August 2009

 



JPMorgan Fleming Japanese Smaller Companies Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 30th June 2009

This Interim Management Statement relates to the quarter from 1st April 2009 to 30 June 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	4.9%	23.7%	-16.6%	-55.1%	-48.2%	-47.5%
Net asset value	6.9%	15.5%	-13.8%	-53.1%	-49.1%	-54.1%
Benchmark	4.7%	10.3%	9.0%	-18.1%	3.6%	13.9%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 30th  June 2009	As at 11th  August 2009
Total assets	£73.2m	£77.4m
Share price	134.3p	139.0p
Net asset value	153.1p	162.4p
Discount	12.3%	14.4%
Gearing	118.3%	118.6%

Share prices shown are closing bid

Net asset values are capital only with debt at par value, diluted for Subscription shares

Source: JPMAM/Fundamental Data

Material events 

There were no material events during the period. 

Material transactions 

Changes to share capital 

	Ordinary Shares of 10p
Shares in issue as at 1st April 2009	39,309,423
Shares bought back and cancelled	-
Shares issued - new Shares issued - exercise of Subscription shares Shares bought back into Treasury Shares issued - from Treasury	- 10,639 - -
Shares in issue at 30th June 2009	39,320,062

Of the 39,320,062 Ordinary shares in issue, 396,000 shares are held in Treasury.  

	Subscription Shares of 1p
Shares in issue as at 1st April 2009	7,798,873
Shares exercised	10,639
Shares repurchased	-
As at 30th June 2009	7,788,234

On 5th March 2009, as part of a bonus issue of Subscription shares, the Company issued 7,798,873 Subscription shares. Since the period end, the Company has issued a further 4,536 Ordinary shares following the exercise of Subscription shares. 

Portfolio

Top ten holdings as at 30th June 2009

Stock name	Sector	% of Portfolio
Osaka Securities Exchange	Financials	3.3
Moshi Moshi Hotline	Industrials	3.0
Disco	Information Technology	2.9
SBI	Financials	2.3
Trancom	Industrials	2.3
GMO Internet	Information Technology	2.3
Aeon Delight	Industrials	2.1
Gree	Information Technology	2.0
Mimasu Semiconductor Industry	Information Technology	1.9
TS Tech	Consumer Discretionary	1.8

Sector analysis as at 30th June 2009

	% of Portfolio
Industrials	31.7
Information Technology	20.1
Consumer Discretionary	15.9
Financials	14.2
Materials	8.2
Health Care	4.6
Consumer Staples	2.2
Energy	1.3
Other	0.1
Cash	1.7
Total	100.0

By order of the Board

Christopher Legg, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

12th August 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.jpmfjapanesesmallercompanies.co.uk 

 

END

 

 

IMSGUUWGRUPBGQP