Interim Management Statement

RNS Number : 7973F

JPMorgan Smaller Cos IT PLC

29 May 2013

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 30th April 2013

This interim management statement relates to the quarter from 1st February 2013 to 30th April 2013 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	0.6%	8.3%	31.9%	78.9%	66.3%	413.4%
Net asset value	-1.2%	7.8%	24.4%	66.1%	63.8%	358.4%
Benchmark	0.7%	5.5%	28.2%	42.0%	34.6%	130.6%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th April 2013
Total assets	£149.6m
Share price	630.0p
Net asset value per share	759.3p
Discount	-17.0%
Gearing	5.6%

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

Material events

On 24^th January it was announced that Frances Davies was appointed as an independent non-executive Director of the Company, with effect from 1st March 2013.

Material events since 30^th April 2013

As previously reported, Strone Macpherson will retire from the board on 1^st June 2013 and Michael Quicke will succeed him as the Chairman of the Board. Michael will also assume the role of Chairman of the Nomination Committee, with Andrew Robson replacing him as Chairman of the Audit Committee.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st February 2013	18,219,372
Shares bought back and cancelled	-
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- - -
As at 30th April 2012	18,219,372

Since the period end, the Company has not issued or repurchased shares for cancellation.

Portfolio Analyses

Top ten holdings as at 30th April 2013:

Stock name	Sector	Weight %
Carclo Ashtead Tribal Brammer International Personal Finance Thomas Cook Dialight Greencore 888 Holdings Quintain Estates	Basic Materials Industrials Industrials Industrials Financials Consumer Services Industrials Consumer Goods Consumer Services Financials	2.8 2.7 2.2 2.2 2.2 2.2 2.2 2.2 2.1 2.1

Sector breakdown as at 30th April 2013:

Sector	Portfolio %
Industrials	40.0
Consumer Services	13.4
Technology	11.1
Financials	11.0
Oil & Gas	9.1
Consumer Goods	5.3
Basic Materials	5.2
Health Care	2.3
Telecommunications	0.9
Utilities	0.3
Cash	1.4
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

29th May 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.jpmsmallercompanies.co.uk.

 

END

 

 

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