Interim Management Statement

RNS Number : 8962L

JPMorgan Claverhouse IT PLC

13 May 2010

 



JPMorgan Claverhouse Investment Trust plc

Interim Management Statement

For the three months ended 31st March 2010

This interim management statement relates to the quarter from 1st January 2010 to 31st March 2010 and contains information that covers that period, unless otherwise stated. 

Cumulative performance *

	1 month	3 months	1 Year	3 Years	5 Years	10 Years
Share price	8.2%	4.5%	57.7%	-11.4%	34.4%	11.6%
Net asset value	7.7%	8.5%	54.9%	-9.0%	37.8%	21.3%
Benchmark	6.8%	6.4%	52.3%	-0.7%	41.3%	29.3%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st March 2010	12th May 2010
Total assets	£303.9m	£289.4m
Share price	437.3p	412.5p
Net asset value	475.7p	445.3p
Discount	8.1%	7.4%
Gearing	111.5%	112.7%

Share prices shown are closing bid

Net asset values shown are capital only, with debt at fair value

Source: JPMAM/ Morningstar

Material events

At the Company's Annual General Meeting held on 14th April 2010, all resolutions were passed, including three special resolutions which allow the Company to repurchase its own shares, to disapply pre-emption rights on allotment of new ordinary shares and adopted new Articles of Association.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st January 2010	56,765,653
Shares bought back and cancelled	-
Shares bought into Treasury	238,800
Shares cancelled from Treasury	-
Shares issued	-
As at 31st March 2010	56,765,653

During the quarter, the Company repurchased 238,800 shares into Treasury. The Company did not issue any shares in the quarter.

Portfolio

Ten largest holdings as at 31st March 2010

Stock name	Sector	Weight %
BP	Oil & Gas	8.5
Royal Dutch Shell	Oil & Gas	7.3
Vodafone	Telecommunications	5.5
HSBC	Financials	5.0
GlaxoSmithKline	Health Care	4.3
AstraZenca	Health Care	4.2
Rio Tinto	Basic Materials	3.4
Anglo American	Basic Materials	3.1
Barclays	Financials	3.0
Unilever	Consumer Goods	2.7

Sector analysis as at 31st March 2010

	Portfolio %
Financials	20.6
Oil & Gas	18.4
Basic Materials	15.1
Consumer Services	10.2
Consumer Goods	10.0
Health Care	8.5
Industrials	7.9
Telecommunications	6.0
Technology	1.4
Cash	1.3
Utilities	0.6
Total	100.0

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

13th May 2010

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

Telephone: [phone]

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.

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.jpmclaverhouse.co.uk 

 

END

 

 

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