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: 020 7742 6000
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.