Interim Management Statement

RNS Number : 3126T

JPMorgan Mid Cap Invest Trust PLC

18 November 2013

 



JPMorgan Mid Cap Investment Trust plc

Interim Management Statement

For the three months ended 30th September 2013

This interim management statement relates to the quarter from 1st July 2013 to 30th September 2013 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	1.8%	9.4%	55.5%	81.3%	114.9%	231.8%
Net asset value	2.1%	6.1%	45.9%	66.9%	95.2%	204.3%
Benchmark	2.2%	9.5%	33.0%	59.2%	130.8%	279.4%

* Total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th September 2013	As at 15th November 2013
Total assets	£211.7m	£215.3m
Share price	669.0p	708.0p
Net asset value	765.6p	780.4p
Discount	12.6%	9.3%
Gearing / (net cash)	11.2%	12.9%

Share prices shown are closing bid

Net asset values are shown cum income

Source: JPMAM/Morningstar

Material events

Final results were released on 25th September 2013.

Following the Annual General Meeting of the Company, which was held on 7th November 2013, the Board was pleased to announce that all the ordinary business put to shareholders was passed.  The following special business was also passed which:

i.)         allows the Company to allot shares up to an aggregate nominal amount of £599,929 representing approximately 10% of the Company's issued share capital;

ii.)        allows the disapplication of pre-emption rights on the allotment of shares; and

iii.)       allows the Company to make market purchases of up to 3,597,177 Ordinary shares representing 14.99% of the Company's issued share capital.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st July 2013 (excluding shares held in Treasury)	23,997,180
Shares held in Treasury as at 1st July 2013	1,400,900
Shares bought back and cancelled Shares bought back into Treasury Shares issued - from Treasury Shares issued -  new	- - - -
Shares in issue at 30th September 2013 (excluding shares held in Treasury) Shares held in Treasury as at 30th September 2013	23,997,180 1,400,900

Portfolio Analyses

Top ten holdings as at 30th September 2013

Stock name	Sector	Weight %
Ashtead	Industrials	4.8
Thomas Cook	Consumer Services	3.9
International Personal Finance	Financials	3.1
Taylor Wimpey	Consumer Goods	2.9
Barratt Development	Consumer Goods	2.8
EasyJet	Consumer Services	2.7
Micro Focus International	Technology	2.7
Sports Direct International	Consumer Services	2.5
CSR	Technology	2.4
Howden Joinery Group	Industrials	2.2

Sector analysis as at 30th September 2013

	Portfolio %
Consumer Services	25.0
Financials	22.9
Industrials	19.7
Consumer Goods	10.9
Technology	6.5
Telecommunications	5.2
Oil & Gas	2.8
Basic Materials	2.7
Utilities	0.8
Cash	3.5
Total	100.00

By order of the Board

Alison Vincent, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

18th November 2013

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.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

ENDS

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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