JPMorgan Smaller Companies Investment Trust plc
(the 'Company')
Interim Management Statement (unaudited)
For the three months ended 30th April 2014
This interim management statement relates to the quarter from 1st February 2014 to 30th April 2014 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 |
-4.3% |
-1.7% |
30.5% |
63.5% |
225.3% |
317.5% |
Benchmark |
0.3% |
-0.8% |
31.8% |
64.7% |
150.1% |
105.9% |
Net asset value |
-1.0% |
-0.3% |
26.1% |
53.5% |
210.0% |
262.2% |
* total return with net dividends reinvested
Source: JPMAM/Morningstar
Financial position
|
As at 30th April 2014 |
Total assets |
£192.9m |
Share price |
812.0p |
Net asset value per share |
947.1p |
Discount |
-14.3% |
Gearing |
9.2% |
Share prices shown are closing bid
Net asset values are shown excluding income with debt at par value
Source: JPMAM/Morningstar
Material events
On 10th April 2014, the Company announced that its full portfolio as at 28th February 2014 was available on its website and that the Company would be publishing the historic portfolio information, as at the end of the previous month, on the Company's website on a monthly basis going forward.
Material transactions
Changes to share capital
|
Ordinary Shares of 25p |
|
|
Shares in issue as at 1st February 2014 |
18,219,372 |
Shares bought back and cancelled |
- |
Shares issued - new Shares bought back into Treasury Shares issued - from Treasury |
- - - |
As at 30th April 2014 |
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 2014:
Stock name |
Sector |
Weight % |
Brammer Quintain Estates & Development Trinity Mirror Tribal Lookers Vectura Heritage Oil Darty Plus500 Thomas Cook |
Industrials Financials Consumer Services Industrials Consumer Services Health Care Oil & Gas Consumer Services Financials Consumer Services |
3.2 2.8 2.8 2.5 2.1 2.0 2.0 1.9 1.9 1.9 |
Sector breakdown as at 30th April 2014:
Sector |
Portfolio % |
Industrials |
33.9 |
Consumer Services |
24.3 |
Financials |
13.5 |
Oil & Gas |
9.1 |
Technology |
8.3 |
Consumer Goods |
5.0 |
Health Care |
2.6 |
Basic Materials |
1.4 |
Utilities |
0.4 |
Cash |
1.5 |
Total |
100.0 |
By order of the Board
Divya Amin, for and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary
6th June 2014
Registered office: 60 Victoria Embankment, London EC4Y 0JP
Telephone: 020 7742 4000
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.