Interim Management Statement

RNS Number : 4088N

JPMorgan Japanese Inv. Trust PLC

16 February 2009

 



JPMorgan Japanese Investment Trust plc

(the 'Company')

Interim Management Statement

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	13.0%	4.1%	-19.4%	-53.4%	-21.6%	13.4%
Net asset value	17.5%	17.4%	-9.7%	-41.1%	-8.6%	14.9%
Benchmark	15.5%	14.8%	1.2%	-15.7%	28.8%	25.4%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 31st December  2008	As at 13th February 2009
Total assets	£334.8m	£289.3m
Share price	148.3p	134.0p
Net asset value	194.4p	168.8p
Discount	23.7%	20.6%
Gearing	102%	99.4%

Share prices shown are closing mid

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

Source: JPMAM/Fundamental Data

Material events

Annual General Meeting

At the Company's Annual General Meeting ('AGM') held on 18th December 2008, resolutions were passed, including Special Resolutions which would allow the Company to allot relevant securities up to an aggregate nominal amount of £2,172,423 or, if less 5% of the total ordinary share capital, to disapply pre-emption rights on such allotments, to make market purchases of up to 26,082,887 of its ordinary 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 of 25p
Shares in issue as at 1st October 2008	174,001,919
Shares bought back and cancelled	2,645653
Shares issued - new	-
Shares bought back into treasury	-
Shares issued - from treasury	-
As at 31st December 2008	171,356,266

The Company bought back 2,645,653 ordinary shares for cancellation during the financial quarter.

Portfolio

Top ten holdings as at 31st December 2008

Stock name	Sector	Weight %
Nippon Telegraph & Telephone	Information & Communication		7.4
NTT DoCoMo	Information & Communication		7.4
KDDI	Information & Communication		6.3
Mitsubishi UFJ Financial Group	Banks		5.4
Nintendo	Other Products		3.2
Inpex	Mining		3.0
Hitachi Transport System	Land Transportation		3.0
Tsumura & Co	Pharmaceutical		2.9
Fast Retailing	Retail Trade		2.9
Sankyo	Machinery		2.8

Sector Breakdown as at 31st December 2008

	Portfolio %
Information & Communication	25.5
Retail Trade	13.5
Pharmaceutical	9.2
Banks	8.1
Construction	5.2
Other	5.0
Wholesale Trade	4.8
Electric Appliances	4.7
Transportation Equipment	4.4
Land Transportation	4.1
Real Estate	3.6
Other Products	3.2
Mining	3.0
Machinery	2.9
Marine Transportation	2.7
Services	2.1
Cash	-2.0
Total	100.0

By order of the Board

Andrew Norman, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary
16th February 2009

020 7742 6000

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

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.jpmjapanese.co.uk 

 

END

 

 

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