Interim Management Statement

RNS Number : 2848A

JPMorgan Russian Securities PLC

18 March 2013

 



JPMorgan Russian Securities plc

Interim Management Statement

For the three months ended 31st January 2013

This interim management statement relates to the quarter from 1st November 2012 to 31st January 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	9.4%	9.9%	19.9%	36.8%	26.5%	183.8%
Net asset value	8.1%	11.6%	19.1%	37.1%	28.9%	184.1%
Benchmark	6.4%	9.3%	16.3%	37.0%	31.9%	170.7%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st January 2013	As at 15th March 2013
Total assets	£342.4m	£342.4m
Share price	561.0p	584.0p
Net asset value	642.5p	643.3p
Discount	-12.7%	-9.2%
Gearing	99.6%	99.2%

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

Material events

There were no material events during the reporting period.

Material transactions

	Ordinary Shares of 1p
Shares in issue as at 1st November 2012	53,827,112
Shares bought back and cancelled	535,000
Shares issued	-
As at 31st January 2013	53,292,112

Portfolio

Top ten holdings as at 31st January 2013

Stock name	Sector	Weight %
Lukoil ADR	Energy	11.5
Sberbank of Russia ADR	Financials	11.2
Mobile Telesystems ADR	Telecommunication Services	7.1
Magnit	Consumer Staples	4.4
Dixy	Consumer Discretionary	4.3
JSC MMC Norilsk Nickel	Materials	4.3
Gazprom	Energy	4.1
Novatek	Energy	4.1
Mostotrest	Industrials	3.3
Tatneft ADS	Energy	3.2

Sector analysis as at 31st January 2013

Sector	Portfolio %
Energy	33.0
Financials	12.7
Consumer Discretionary	12.3
Materials	12.0
Telecommunication Services	11.9
Consumer Staples	10.9
Industrials	3.3
Health Care	2.2
Utilities	1.3
Cash	0.4
Total	100.00

By order of the Board

Alison Vincent, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

18th March 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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