Interim Management Statement

RNS Number : 5767M

JPMorgan Russian Securities PLC

27 August 2013

 



JPMorgan Russian Securities plc

Interim Management Statement

For the three months ended 31st July 2013

This interim management statement relates to the quarter from 1st May 2013 to 31st July 2013 and contains information that covers that period, unless otherwise stated. 

Financial performance - Cumulative Total Return *

	1 month	3 months	1 Year	3 Years	5 Years	10 Years
Share price	3.5%	-0.2%	5.0%	-7.8%	-19.1%	319.1%
Net asset value	3.7%	0.6%	6.7%	-2.9%	-13.7%	338.3%
Benchmark	3.3%	-0.5%	2.6%	-0.1%	5.0%	347.8%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st July 2013	As at 26th August 2013
Total assets	£314.9m	£309.9m
Share price	518.0p	518.0p
Net asset value	594.0p	587.7p
Discount	-12.8%	-11.9%
Gearing/(-) Net Cash	-3.4%	-3.3%

Share prices shown are closing bid

Net asset values are shown cum income with debt at par value

Source: JPMAM/Morningstar

Material events

On 18^th June 2013, the Company's half year results were announced.

Material transactions

	Ordinary Shares of 1p
Shares in issue as at 1st May 2013	53,292,112
Shares bought back and cancelled	275,000
Shares issued	-
As at 31st July 2013	53,017,112

Since the period end, the Company has repurchased a further 290,000 shares for cancellation.  The number of shares in issue following this repurchase is 52,727,112.

Portfolio

Top ten holdings as at 31st July 2013

Stock name	Sector	Weight %
Lukoil ADR	Energy	11.2
Sberbank of Russia ADR	Financials	10.0
Magnit	Consumer Staples	7.4
Novatek GDR	Energy	6.8
Mobile Telesystems ADR Gazprom ADR	Telecommunication Services Energy	5.2 4.9
Dixy	Consumer Discretionary	4.5
JSC MMC Norilsk	Materials	4.4
Tatneft ADS	Energy	3.9
Sistema GDR	Telecommunication Services	3.5

Sector analysis as at 31st July 2013

Sector	Portfolio %
Energy	36.5
Consumer Staples	14.1
Financials	12.2
Telecommunication Services	10.3
Materials	9.5
Consumer Discretionary	8.9
Industrials	2.5
Health Care	1.9
Utilities	0.7
Cash	3.4
Total	100.00

By order of the Board

Alison Vincent, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

27th August 2013

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.jpmrussian.co.uk 

 

END

 

 

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