Interim Management Statement

RNS Number : 9333T

JPMorgan Smaller Cos IT PLC

19 December 2012

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 31st October 2012

This interim management statement relates to the quarter from 1st August 2012 to 31st October 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	2.1%	13.6%	20.7%	45.8%	-0.4%	298.3%
Net asset value	-0.7%	8.6%	20.6%	45.3%	0.5%	285.9%
Benchmark	1.6%	12.0%	22.4%	21.5%	-11.6%	102.9%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st October 2012
Total assets	£125.7m
Share price	508.8p
Net asset value per share	619.1p
Discount	-19.2%
Gearing	105.6%

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 events post 31st October 2012

At the Company's Annual General Meeting held on 27th November 2012, 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 9.0p per share will be paid on 7th December 2012 to shareholders on the register at the close of business on 16th November 2012.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st August 2012	18,283,028
Shares bought back and cancelled	63,656
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- - -
As at 31st October 2012	18,219,372

During the quarter, the Company made market purchases of 63,656 of its own shares. The Company did not issue any shares in this financial quarter.

Since the period end, the Company has not repurchased any further shares.

Portfolio Analyses

Top ten holdings as at 31st October 2012:

Stock name	Sector	Weight %
Carcio NCC Group Greencore Ashtead Cape Sportingbet Anite Oxforf instruments Dialight E2V Technologies	Basic Materials Technology Consumer Goods Industrials Oil &Gas Consumer Services Technology Industrials Industrials Industrials	2.6 2.4 2.3 2.3 2.1 2.1 2.0 2.0 2.0 2.0

Sector breakdown as at 31st October 2012:

Sector	Portfolio %
Industrials	40.9
Consumer Services Financials	11.9 10.9
Technology	10.1
Oil & Gas	8.4
Basic Materials	6.2
Consumer Goods	5.6
Health Care	3.3
Telecommunications	1.9
Utilities	0.3
Cash	0.5
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

19th December 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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