Net Asset Value(s)

RNS Number : 7804K

JPMorgan US Discovery IT PLC

24 December 2008

 



RELEASE ANNOUNCEMENT FROM:

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

NAME OF CONTACT AND TELEPHONE NUMBER FOR QUERIES

DEBBIE SARFAS 020 7742 3449

NAME OF AUTHORISED COMPANY OFFICIAL RESPONSIBLE FOR MAKING
THIS NOTIFICATION

ALISON VINCENT 020 7742 6216

DATE  24TH DECEMBER 2008

JPMORGAN ASSET MANAGEMENT (UK) LIMITED ANNOUNCES THE UNAUDITED NET ASSET VALUES PER SHARE (NAVS) OF THE FOLLOWING INVESTMENT TRUST AS AT CLOSE OF BUSINESS ON 23RD DECEMBER 2008. THE NAVS HAVE BEEN CALCULATED IN ACCORDANCE WITH AIC RECOMMENDED PRACTICE.

THE NET ASSET VALUE IN PENCE, INCLUDING INCOME, WITH DEBT AT FAIR VALUE, AS AT MARKET CLOSE ON 23RD DECEMBER 2008 WAS AS FOLLOWS:

JPMORGAN US DISCOVERY INVESTMENT TRUST PLC:**** Following the successful outcome, in June 2007, of the action brought to declare that VAT should not be charged on management fees for investment trust companies, the Board is pleased to announce that it has reached agreement with the Company's manager, JPMorgan Asset Management ('JPMAM'), on the recovery of past VAT. The total recovery, including interest, is £397,112. The above net asset values include the impact (6.58 pence per share) of the recovery.  The VAT recovery has been credited to the Company's revenue and capital accounts in accordance with the Board's policy for allocation of management fees for each of the periods for which VAT is recovered.

535.10

THE CAPITAL-ONLY NET ASSET VALUE PER SHARE IN PENCE, WITH DEBT AT PAR VALUE, AS AT MARKET CLOSE ON 23RD DECEMBER 2008 WAS AS FOLLOWS:

JPMORGAN US DISCOVERY INVESTMENT TRUST PLC:**** Following the successful outcome, in June 2007, of the action brought to declare that VAT should not be charged on management fees for investment trust companies, the Board is pleased to announce that it has reached agreement with the Company's manager, JPMorgan Asset Management ('JPMAM'), on the recovery of past VAT. The total recovery, including interest, is £397,112. The above net asset values include the impact (6.58 pence per share) of the recovery.  The VAT recovery has been credited to the Company's revenue and capital accounts in accordance with the Board's policy for allocation of management fees for each of the periods for which VAT is recovered.

530.64

**** THE ABOVE NAV ASSUMES THAT THE 150,000 TREASURY SHARES HAVE BEEN REISSUED IN ACCORDANCE WITH THE BOARD'S CURRENT POLICY ON THE REISSUE OF TREASURY SHARES. 

 

END

 

 

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