Interim Management Statement

RNS Number : 9013L

JPMorgan Emerging Mkts Invest Trust

13 May 2010

 



JPMorgan Emerging Markets Investment Trust plc

Interim Management Statement (unaudited)

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	9.3%	9.2%	69.2%	43.9%	193.8%	245.8%
Net asset value	9.3%	10.2%	74.5%	43.5%	178.7%	197.6%
Benchmark	8.5%	9.0%	71.1%	50.4%	157.7%	168.2%

* Total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st March 2010	As at 12th May 2010
Total assets	£680.1m	£670.9m
Share price	535.0p	527.0p
Net asset value	580.2p	570.7p
Discount	7.8%	7.7%
Gearing	99.5%	99.8%

Share prices shown are closing bid

Net asset values are shown excluding income, diluted for subscription shares.

Source: JPMAM/Morningstar

Material events

There were no material events during the quarter.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st January 2010	110,662,708
Shares bought back and cancelled	-
Shares issued due to exercise of subscription shares	179,644
Shares in issue as at 31st March 2009	110,842,352

The Company did not repurchase any shares for cancellation in the quarter.

Portfolio

Top ten holdings as at 31st March 2010

Stock name	Sector	Weight %
Companhia Vale de Rio Doce ADR	Materials	4.5
Petroleo Brasileiro ADR	Energy	4.5
Housing Development Finance	Financials	3.7
Magnit	Consumer Staples	3.5
China Merchants Bank	Financials	3.3
Turkiye Garanti Bankasi	Financials	2.8
Infosys Technologies ADR	Information Technology	2.8
Grupo Financiero Banorte	Financials	2.6
African Bank Investments	Financials	2.6
Banco Itau	Financials	2.5

Sector analysis as at 31st March 2010

Sector	Portfolio %
Financials	32.1
Consumer Staples	17.5
Consumer Discretionary	11.3
Materials	11.0
Energy	8.4
Information Technology	8.2
Telecommunication  Services	6.1
Industrials	3.6
Health Care	1.1
Cash	0.7
Total	100.00

Geographical Analysis as at 31st March 2010

Country	Portfolio %
Brazil	16.6
China	12.0
India	11.9
Hong Kong	9.5
South Africa	9.1
Mexico	7.8
Russia	6.8
South Korea	6.5
Taiwan	4.2
Other	3.1
Turkey	2.8
Indonesia	2.7
United Kingdom	1.9
Egypt	1.8
Hungary	1.5
Israel	1.1
Cash	0.7
Total	100.00

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.jpmemergingmarkets.co.uk 

 

END

 

 

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