Interim Management Statement

RNS Number : 4658N

JPMorgan Smaller Cos IT PLC

11 June 2010

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 30th April 2010

This interim management statement relates to the quarter from 1st February 2010 to 30th April 2010 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	3.4%	5.7%	39.4%	-31.8%	36.8%	56.8%
Net asset value	5.4%	6.6%	48.1%	-25.6%	47.5%	63.5%
Benchmark	4.4%	3.2%	33.6%	-32.2%	1.6%	3.3%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position

	As at 30th April 2010
Total assets	£99.2m
Share price	373.0p
Net asset value per share	478.8p
Discount	22.1%
Gearing	106.8%

Share prices shown are closing bid

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

Source: JPMAM/Fundamental Data

Material events

There were no material events to report in this financial quarter.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 31st January 2010	19,553,550
Shares bought back and cancelled	592,472
Shares issued - new Shares bought back into treasury Shares issued - from treasury	- - -
As at 30th April 2010	18,961,078

During the quarter, the Company made market purchases of 592,472 of its own shares for cancellation, representing 3.03% of the shares in issue at the beginning of the financial year. The Company has not issued any shares in this financial quarter.

Portfolio

Top ten holdings as at 30th April 2010:

Stock name	Sector	Weight %
Yule Catto & Co	Basic Materials	2.4
Elementis	Basic Materials	2.2
Quintain Estates & Development	Financials	2.1
Senior	Industrials	2.1
International Personal Finance	Financials	2.1
Fenner	Industrials	2.0
Intec	Technology	2.0
Micro Focus International	Technology	1.9
Hill & Smith	Industrials	1.9
Diplomer	Industrials	1.9

Sector analysis as at 30th April 2010:

Sector	Portfolio %
Industrials	34.6
Financials	15.4
Technology	12.8
Consumer Services	11.3
Basic Materials	8.1
Consumer Goods	5.4
Oil & Gas	5.3
Healthcare	3.7
Telecommunications	2.1
Utilities	0.6
Cash	0.7
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

11th June 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.jpmsmallercompanies.co.uk.

 

END

 

 

IMSGGUUGQUPUUBG