Interim Management Statement

RNS Number : 3490U

JPMorgan Smaller Cos IT PLC

29 November 2013

 



JPMorgan Smaller Companies Investment Trust plc

(the 'Company')

Interim Management Statement (unaudited)

For the three months ended 31st October 2013

This interim management statement relates to the quarter from 1st August 2013 to 31st October 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	2.1%	13.1%	56.3%	85.0%	251.1%	338.3%
Net asset value	4.0%	8.1%	46.2%	75.8%	225.6%	283.3%
Benchmark	3.6%	11.5%	47.8%	68.4%	173.3%	107.6%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st October 2013
Total assets	£183.9m
Share price	781.0p
Net asset value per share	916.4p
Discount	-14.8%
Gearing	9.0%

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

Material events

The Company's final results were announced on 22nd October 2013.

Material events post 31st October 2013

At the Company's Annual General Meeting held on 26th November 2013, 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 9.5p per share will be paid on 6th December 2013 to shareholders on the register at the close of business on 15th November 2013.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st August 2013	18,219,372
Shares bought back and cancelled	-
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury	- - -
As at 31st October 2013	18,219,372

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

Portfolio Analyses

Top ten holdings as at 31st October 2013:

Stock name	Sector	Weight %
Brammer Quintain Estates & Development Tribal Thomas Cook Ashtead Carclo Caracal Energy Lookers Trinity Mirror Speedy Hire	Industrials Financials Industrials Consumer Services Industrials Basic Materials Oil & Gas Consumer Services Consumer Services Industrials	3.3 2.9 2.5 2.2 2.1 2.0 2.0 2.0 2.0 1.9

Sector breakdown as at 31st October 2013:

Sector	Portfolio %
Industrials	38.2
Consumer Services Financials	18.9 11.6
Oil & Gas	11.1
Technology	10.0
Consumer Goods	4.5
Basic Materials	2.7
Health Care	1.7
Utilities	0.2
Cash	1.1
Total	100.0

By order of the Board

Divya Amin, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

29th November 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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