Interim Management Statement

RNS Number : 6230X

JPMorgan Smaller Cos IT PLC

08 December 2010

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 31st October 2010

This interim management statement relates to the quarter from 1st August 2010 to 31st October 2010 and contains information that covers that period, unless otherwise stated. 

Investment objective

Capital growth from UK listed smaller companies.

Financial performance - Cumulative Total Return *

	1 Month	3 Months	1 Year	3 Years	5 Years	10 Years
Share price	8.1%	21.5%	23.2%	-15.9%	43.3%	45.6%
Net asset value	3.4%	16.1%	20.8%	-16.5%	45.8%	65.3%
Benchmark	3.4%	11.7%	6.6%	-22.5%	-1.2%	3.0%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st October 2010
Total assets	£110.8m
Share price	442.5p
Net asset value per share	539.9p
Discount	18.0%
Gearing	105.4%

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

Material events

At the Company's Annual General Meeting held on 24th November 2010, all of the resolutions put to shareholders were passed, including Special Resolutions which allow the Company to make market purchases of up to 14.99% of its issued ordinary shares and to disapply pre-emption rights on the allotment of new ordinary shares.

A final dividend of 8.5p per share will be paid on 10th December 2010 to shareholders on the register at the close of business on 12th November 2010.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st August 2010	18,940,023
Shares bought back and cancelled	68,350
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- - -
As at 31st October 2010	18,871,673

During the quarter, the Company made market purchases of 68,350 of its own shares. The Company has not issued any shares in this financial quarter.

Portfolio Analyses

Top ten holdings as at 31st October 2010:

Stock name	Sector	Weight %
Hyder Consultancy Anglo Pacific Nautical Petroleum Elementis Fenner Diploma International Personal Finance TT Electronics Yule Catto & Company Cove Energy	Industrials Basic Materials Oil & Gas Basic Materials Industrials Industrials Financials Industrials Basic Materials Oil & Gas	2.3 2.2 2.2 2.1 2.1 2.1 2.1 2.1 1.9 1.9

Sector breakdown as at 31st October 2010:

Sector	Portfolio %
Industrials	41.0
Technology	11.0
Consumer Services	10.3
Financials	10.2
Oil & Gas	8.7
Basic Materials	7.8
Consumer Goods	4.2
Health Care	3.1
Telecommunications	2.1
Utilities	0.4
Cash	1.2
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

8 December 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, fact sheets and portfolio information can be found at www.jpmsmallercompanies.co.uk.

 

END

 

 

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