Interim Management Statement

RNS Number : 4818S

JPMorgan US Smaller Co. IT

07 November 2013

 



JPMorgan US Smaller Companies Investment Trust plc

Interim Management Statement

For the three months ended 30th September 2013

This interim management statement relates to the quarter from 1st July 2013 to 30th September 2013 and contains information that covers that period, unless otherwise stated. 

Financial performance - Cumulative Performance *

	1 Month	3 Months	1 Year	3 Years	5 Years	10 Years
Share price	-0.4%	10.4%	46.0%	104.5%	129.7%	155.5%
Net asset value	0.8%	2.6%	31.3%	74.0%	103.8%	120.2%
Benchmark	1.6%	3.2%	29.3%	59.6%	83.9%	150.1%

* Total return with net dividends (if any) reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th September 2013	As at 6th November 2013
Total assets	£83.8m	£87.7m
Share price	1,479.0p	1,535.0p
Net asset value	1,462.7p	1,534.0p
Premium/(Discount)	1.1%	0.1%
Gearing	5.6%	5.7%

Share prices shown are closing, bid

Net asset values are shown with debt at fair value on a cum income basis

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 July 2013	5,163,623
Shares issued	144,877
Shares bought back and cancelled	-
As at 30th September 2013	5,308,500

The Company has not purchased or issued any shares since 30th September 2013.

Portfolio Analyses

Ten largest holdings as at 30th September 2013

Stock name	Sector	Weight %
Jarden	Consumer Discretionary	3.0
Waste Connections	Producer Durables	3.0
Silgan	Materials & Processing	2.6
ProAssurance	Financial Services	2.2
Anixter International	Technology	1.9
Associated Banc-Corp	Financial Services	1.9
First Republic Bank	Financial Services	1.9
Hff Inc Usd0.01 A	Financial Services	1.8
Cimarex Energy	Energy	1.8
Brinker International	Consumer Discretionary	1.7

Sector breakdown as at 30th September 2013

	Portfolio %
Consumer Discretionary	23.6
Financial Services	22.6
Producer Durables	17.5
Technology	10.4
Materials & Processing	8.0
Health Care	6.3
Energy	4.9
Utilities	2.6
Consumer Staples	1.9
Cash	2.2
	100.0

By order of the Board

Lucy Dina, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary - Telephone [phone]

7th November 2013

Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ

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.jpmussmallercompanies.co.uk 

 

END

 

 

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