Interim Management Statement

RNS Number : 8398G

JPMorgan Eur Fldglng Inv Trust PLC

08 February 2010

 



JPMorgan European Fledgeling Investment Trust plc

Interim Management Statement (Unaudited)

For the three months ended 31st December 2009

This interim management statement relates to the quarter from 1st October 2009 to 31st December 2009 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	7.5%	-2.5%	30.0%	-6.2%	116.5%	84.0%
Net asset value	3.3%	0.0%	30.5%	2.9%	118.6%	115.9%
Benchmark	1.7%	-1.1%	41.3%	-1.4%	72.6%	103.3%

* total return with net dividends reinvested

Source: JPMAM/ Morningstar

Financial position

	As at 31st December 2009	As at 5th February 2010
Total assets	£438.6m	£435.8m
Share  price	673.0p	636.0p
Net asset value Discount Gearing	825.2p 18.4% 109.56%	783.2p 18.8% 114.1%

Share prices shown are closing bid

Net asset values are capital only with debt at par value, diluted for Treasury shares

Source: JPMAM/Morningstar

Material events

There were no material events during the quarter.

Material Transactions

Changes to share capital

	Issued Shares
As at 1st October 2009		48,713,323
Shares bought back and cancelled		-
Shares bought back into Treasury Shares cancelled from Treasury Shares issued		299,000 - -
As at 31st December 2009		48,713,323

During the quarter, the Company did not purchase any shares for cancellation.

During the quarter, the Company made market purchases of 299,000 shares into Treasury.

Portfolio Analyses

Ten largest holdings as at 31st December 2009

Stock name	Sector	Weight %
Sorin                                                                Health Care                             1.6
Trevi Finanziaria Industriale                           Industrials                               1.6
Royal Boskalis Westminister Group                Industrials                                1.5
Dufry                                                               Consumer Discretionary          1.5
Smit Internationale                                          Industrials                                1.5
Temenos                                                          Information Technology          1.5
Aalberts Industries                                          Industrials                                1.5
Bulgari                                                             Consumer Discretionary          1.4
Tod's                                                               Consumer Discretionary          1.4
Banca Generali                                                Financials                                1.4

Portfolio analysis as at 31st December 2009

Sector	Portfolio %
Industrials                                                                   31.7
Consumer Discretionary                                             20.6
Financials                                                                     9.9
Information Technology                                              9.7
Materials                                                                      8.7
Health Care                                                                 7.4
Consumer Staples                                                        4.2
Energy                                                                         3.4
Telecommunication Services                                       1.4
Utilities                                                                        0.3
Cash                                                                             2.7
Total                                                                            100

By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

8th February 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.jpmeuropeanfledgeling.co.uk

 

END

 

 

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