Interim Management Statement

RNS Number : 6804F

JPMorgan Smaller Cos IT PLC

19 June 2012

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 30th April 2012

This interim management statement relates to the quarter from 1st February 2012 to 30th April 2012 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	-0.8%	10.8%	-5.0%	89.0%	-7.5%	161.5%
Net asset value	1.8%	12.5%	-2.1%	95.6%	-0.7%	176.2%
Benchmark	0.5%	10.0%	-2.5%	48.0%	-24.9%	32.7%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th April 2012
Total assets	£124.3m
Share price	486.3p
Net asset value per share	619.5p
Discount	-21.5%
Gearing	106.9%

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 during the quarter.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st February 2012	18,477,064
Shares bought back and cancelled	29,365
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- - -
As at 30th April 2012	18,447,699

During the quarter, the Company made market purchases of 29,365 of its own shares. The Company did not issue any shares in this financial quarter.

Since the period end, the Company has repurchased a further 120,892 shares for cancellation.  The number of shares in issue following this repurchase is 18,326,807.

Portfolio Analyses

Top ten holdings as at 30th April 2012:

Stock name	Sector	Weight %
Brammer Anite Dialight E2V Technologies Menzies (John) Hyder Consulting Nautical Petroleum Fenner Senior Diploma	Industrials Technology Industrials Industrials Industrials Industrials Oil & Gas Industrials Industrials Industrials	3.1 2.9 2.5 2.4 2.2 2.1 2.1 2.1 2.0 2.0

Sector breakdown as at 30th April 2012:

Sector	Portfolio %
Industrials	46.1
Financials	10.6
Oil & Gas	8.8
Technology	8.6
Consumer Services	7.7
Basic Materials	7.6
Consumer Goods	5.4
Health Care	2.1
Telecommunications	2.0
Utilities	0.2
Cash	0.9
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

19th June 2012

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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