Portfolio Update

JPMorgan Fleming Smaller Cos IT PLC
01 November 2005


31- October- 05
JPMorgan Investment Trust
Ten Largest Investments
in % of Total Assets.

                                                                                                                        
Ten Largest Investments
JPMorgan Fleming Smaller Companies Investment Trust

Brewin Dolphin                                                                   2.1
Hunting                                                                          2.1
Erinaceous                                                                       1.9
Charter                                                                          1.8
Ashtead                                                                          1.8
Speedy Hire                                                                      1.8
Savills                                                                          1.8
Morgan Sindall                                                                   1.7
WSP                                                                              1.7
Restaurant Group                                                                 1.7
                                                                                18.4




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