Interim Management Statement

Jupiter Green Investment Trust PLC Interim Management Statement for the three months to 30 June 2009 The Board of Jupiter Green Investment Trust PLC (the "Company") is pleased to announce its interim management statement for the three months ended 30 June 2009. Investment Manager's Report for the three months ended 30 June 2009 Performance Review For the three months ended 30 June 2009 the total return for the Trust was 12.6 per cent. compared to a return of 12.1 per cent. for the Trust's composite index*. Market and Policy Review The relief rally that we saw in March gathered momentum in April and May as investors became more confident that the worst of the recession was behind us. An element of circumspection crept into the market in June, however, as economic data became more mixed, profit taking ensued. A big theme for the quarter was the further rotation out of defensive stocks into cyclical companies that started earlier in the year. The resources and banking sectors were particularly buoyant, if only because the direst predictions for the global economy appeared less likely to be realised. It was a strong quarter for the Trust with several holdings recovering from oversold levels as a result of the improving economic outlook. Core wind holding, Vestas Wind Systems, was re-rated on expectation of increased orders following the global stimulus and incentive packages announced since the start of the year. Firstgroup (green transport) ended the period on a firmer footing after it announced its preliminary results for the year to March 2009. Profit before tax rose by 34 per cent., which was broadly expected, and the company announced a 10 per cent. increase in its dividend. Abengoa (clean energy), which has environmental services and bio-energy interests, rallied off a low level after it announced solid first quarter profit results. First Solar and Ormat (clean energy) were among several holdings in the Trust's US portfolio that also made good progress during the quarter. Less impressive was Novozymes (clean energy) which ended the quarter weaker on profit taking. The company announced first quarter profit results broadly in line with expectations, but lowered its guidance due to softness in its detergent and bioethanol divisions, both of which have exposure to consumer demand. In spite of this weakness, we believe the long term fundamentals of this company are very positive. Sustainable living holding Cranswick ended marginally lower this quarter on no specific news. Investment Outlook Since the end of June the total assets of the Company have increased by 4.4 per cent. as a result of strong stock market performance in both the US and the UK, with a corresponding increase in the Ordinary share price of 6.9 per cent. Whilst there is still some way to go before we can be sure that the macro-economic situation has improved there are recent early signals that stabilisation has occurred and an increased level of activity has led to improved sentiment and some return to risk in the equity markets. We will deploy cash to companies with strong balance sheets and robust business models that we believe have been mispriced on a longer term view. We will also look to take profits in positions that we believe have become fully valued due to market exuberance. We would add that the green investment thesis continues to strengthen. In addition to the significant green stimulus packages announced in recent months, the G8's commitment to cut carbon emissions by 80 per cent. by 2050 bodes well for a strong mid term agreement at the UN Climate Change Conference in Copenhagen later this year. Charles Thomas Fund Manager, Jupiter Asset Management Limited All positions mentioned are held directly within the portfolio managed by Jupiter unless otherwise stated. Total Assets as at 30 June 2009: £38,082,605 % of Total Assets Jupiter Managed Portfolio £24,723,800 64.9 Winslow Managed Portfolio £13,358,805 35.1 Shares in Issue on 30 June 2009: 44,347,831 Net Asset Market Price Premium/ Value (p) (p) (Discount) Ordinary (undiluted) excluding 86.58 income/expenses Ordinary (undiluted) including 86.61 income/expenses 76.50 (12%) Ordinary (diluted) excluding 86.58 income/expenses Ordinary (diluted) including 89.61 income/expenses Warrants n/a 8.75 n/a Portfolio Distribution on 30 June 2009 United Kingdom 25% North America 35% Europe 19% Japan 5% Other 2% Cash and fixed interest 14% 100% The Company's exposure to other UK listed investment companies was nil on 30 June 2009. Top Ten Holdings on 30 June 2009 Company Country of Listing % of total assets Vestas Wind Systems Denmark 3.4 Cranswick United Kingdom 3.0 Gamesa Corp Spain 2.7 Telvent United States 2.6 First Group United Kingdom 2.5 First Solar United States 2.3 Kurita Water Japan 2.3 RPS Group United Kingdom 2.2 Novozymes Denmark 2.2 Pure Technologies Canada 2.1 25.3 Comparative Performance to 30 June 2009 One month Three One year % Since Last % months % launch % Annual Report % Total Assets* (2.1) 12.6 (25.0) (10.8) 12.6 FTSE Global Small Cap - Ex US Index (2.8) 16.4 (18.6) (12.6) 16.4 Russell 2500 Growth Index (0.8) 4.5 (11.4) (14.3) 4.5 Composite Index (2.1) 12.1 (15.8) (11.0) 12.1 Ordinary Share NAV (2.1) 12.6 (25.0) (10.8) 12.6 Ordinary Share Price (4.4) 19.1 (30.3) (23.5) 19.1 Warrant Price (36.4) 191.7 (64.6) (58.3) 191.7 * Performance adjusted for share issue/cancellation since launch The Company's Investment Objective The Company's investment objective is to generate long-term capital growth through a diverse portfolio of companies providing environmental solutions. The Company's Investment Policy The Company invests globally in companies which have a significant focus on environmental solutions such as Clean Energy, Water Management, Waste Management, Sustainable Living, Environmental Services and Green Transport. The Company is focused on the following six green investment themes: * Clean Energy Stand alone power and back-up systems based on wind, solar, flywheels, batteries and fuel cells; bio-fuels; insulation materials; energy efficiency technologies. * Waste Management Waste reduction and associated technologies; recycling and resource management; recycled materials. * Water Management Water and wastewater services including sewerage and treatment infrastructure; new technology-based solutions such as membranes and UV disinfection. * Sustainable Living Healthy lifestyle sector including organic foods, complementary medicines and healthcare. * Environmental Services Companies directly benefiting from increased environmental legislation, including environmental consultancies and providers of safety equipment. * Green Transport Integrated public transport systems; vehicle emissions and energy efficiency control technologies. The Company's portfolio has a bias towards small and medium capitalisation companies. It invests primarily in securities which are quoted, listed or traded on a recognised exchange. However, up to 5 per cent. of the Company's Total Assets (at the time of such investment) may be invested in unlisted securities. No such investments have been made to date. Material Events Since 31 March 2009 no Ordinary shares have been repurchased. Warrant holders were able to exercise their warrant rights and subscribe for Ordinary shares on 31 July 2009 and two holders took the opportunity to do so. This resulted in the issue of an additional 573 Ordinary shares. The total voting rights after the issue of these additional Ordinary shares, excluding 360,000 Ordinary shares held in Treasury, are 43,988,404. Mr Michael Naylor was appointed to the Board of the Company on 3 July 2009. The Company issued its Annual Report in mid-June and the Annual General Meeting will be held on 8 September 2009. The Board is not aware of any other significant events or transactions which have occurred between 31 March 2009 and the date of publication of this interim management statement which would have a material impact on the financial position or the performance of the Company. Availability of Monthly Fact Sheets Monthly fact sheets for the Company are available for download from www.jupiteronline.co.uk and by post or fax on request from the company secretarial department. The Company's Ordinary shares and Warrants are listed on the London Stock Exchange and the prices are published in the Financial Times under `Investment Companies'. The Net Asset Values of the Company's Ordinary shares are calculated weekly and can be viewed on the London Stock Exchange website at www.londonstockexchange.com (under the heading 'Market News'). For further information, please contact: Richard Pavry Director of Investment Trusts Jupiter Asset Management Limited rpavry@jupiter-group.co.uk 020 7314 4822 Faith Pengelly Company Secretarial Department Jupiter Asset Management Limited fpengelly@jupiter-group.co.uk 020 7314 4915 The Company's Registered office is at 1 Grosvenor Place, London SW1X 7JJ. 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. Jupiter Asset Management Limited 7 August 2009 ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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