Interim Management Statement

RNS Number : 6929G

JP Morgan Mid Cap Invest Trust PLC

24 October 2008

 



JPMorgan Mid Cap Investment Trust plc

Interim Management Statement

For the three months ended 30th September 2008

This interim management statement relates to the quarter from 1st July 2008 to  30th September 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
Share price	-20.4%	-19.8%	-34.8%	-3.3%	54.4%
Net asset value	-20.1%	-18.6%	-33.8%	-4.3%	54.2%
Benchmark	-15.8%	-12.7%	-26.9%	7.0%	64.4%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position 

	As at 30th September 2008	As at 23rd October 2008
Total assets	£135.1m	£99.9m
Share price	391.5p	297.5p
Net asset value	465.5p	348.5p
Discount	15.9%	14.6%
Gearing	110.7%	100.3%

Share prices shown are closing bid

Net asset values are shown with debt at fair value

Source: JPMAM/Fundamental Data

Material events 

There were no material events.

Margaret Littlejohns was appointed a Director with effect from 2nd July 2008.

Material transactions 

Changes to share capital 

	Ordinary Shares of 25p
Shares in issue as at 1st July 2008	26,132,180
Shares bought back and cancelled	-
Shares bought back into Treasury Shares cancelled from Treasury Shares issued	543,000 - -
Shares issued – new	-
As at 30th September 2008	25,589,180

During the quarter, the Company bought 543,000 shares into Treasury.  As at the date of this announcement the Company holds 820,500 shares in Treasury at a weighted average discount of 14.78%. The Company did not issue any shares in the period.

Portfolio

Top ten holdings as at 30th September 2008

Stock name	Sector	Weight %
Intermediate Capital	Financials	2.8
Amlin	Financials	2.7
GKN	Consumer Goods	2.5
Dana Petroleum	Oil & Gas	2.5
Charter	Industrials	2.3
Wellstream	Oil & Gas	2.3
Aggreko	Industrials	2.2
Hays	Industrials	2.2
Investec	Financials	2.1
De La Rue	Industrials	2.1

Sector analysis as at 30th September 2008

	Portfolio %
Industrials	34.0
Financials	24.3
Consumer Services	20.7
Oil & Gas	7.7
Consumer Goods	5.7
Technology	3.6
Basic Materials	2.4
Utilities	1.4
Health Care	0.0
Telecommunications	0.0
Cash	0.2
Total	100.00

By order of the Board

Andrew Norman, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

24th October 2008

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.jpmmidcap.co.uk 

 

END

 

 

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