Interim Management Statement

RNS Number : 5200I

JPMorgan Smaller Cos IT PLC

15 June 2011

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 30^th April 2011

This interim management statement relates to the quarter from 1st February 2011 to 30^th April 2011 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	3.9%	-1.1%	42.8%	32.7%	21.2%	120.0%
Net asset value	3.2%	3.8%	36.4%	34.5%	28.8%	134.1%
Benchmark	3.1%	1.6%	13.7%	7.7%	-9.7%	18.5%

* Total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th April 2011
Total assets	£130.7m
Share price	522.5p
Net asset value per share	643.1p
Discount	18.8%
Gearing	106.8%

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

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 2011	18,820,271
Shares bought back and cancelled	62,665
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- - -
As at 30th April 2011	18,757,606

During the quarter, the Company made market purchases of 62,665 of its own shares. The Company has not issued any shares in this financial quarter.

Portfolio Analyses

Top ten holdings as at 30^th April 2011:

Stock name	Sector	Weight %
Brammer Diploma Oxford Instruments Cape Fenner Yule Catto & Company Nautical Petroleum Elementis TT Electronics R P C	Industrials Industrials Industrials Oil & Gas Industrials Basic Materials Oil & Gas Basic Materials Industrials Industrials	2.5 2.5 2.4 2.4 2.2 2.1 2.1 2.0 2.0 1.9

Sector breakdown as at 30^th April 2011:

Sector	Portfolio %
Industrials	40.9
Financials	11.8
Oil & Gas	11.3
Consumer Services	9.5
Technology	8.8
Basic Materials	8.0
Consumer Goods	3.9
Telecommunications	2.1
Health Care	1.6
Utilities	0.5
Cash	1.6
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

15 June 2011

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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