Interim Management Statement

RNS Number : 8752L

JPMorgan Overseas IT PLC

13 May 2010

 



JPMorgan Overseas 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. 

Financial performance - Cumulative Total Return *

	1 month	3 months	1 Year	3 Years	5 Years	10 Years
Share price	13.1%	13.9%	79.8%	40.0%	101.9%	59.6%
Net asset value	9.2%	12.3%	71.8%	33.9%	80.5%	36.2%
Benchmark	6.8%	9.8%	46.9%	10.6%	45.1%	7.6%

* total return with net dividends reinvested

Source: JPMAM/Fundamental Data

Financial position

	As at 31st March 2010	As at 5h May 2010
Total assets	£218.8m	£210.8m
Share  price	800.5p	778.0p
Net asset value Discount** Gearing***	822.6p 2.7% 103.9%	789.7p 1.5% 102.7%

Share prices shown are closing bid

Source: JPMAM/Fundamental Data

** The Company aims to maintain an average discount of around 5%. Average over 3 months was 6.2%. On 30^th April 2009, the Board agreed that any shares repurchased under this policy should be held in Treasury. Any shares held in Treasury will only be re-issued at a premium to net asset value.

*** Actual Gearing is based on the most recently available month-end data.

Changes to share capital

	Issued Shares
As at 1st January 2010	26,174,698
Shares bought back and cancelled	-
Shares bought back into Treasury Shares cancelled from Treasury Shares issued	- - -
As at 31st March 2010	26,174,698

Portfolio Analyses

Ten largest holdings as at 31st March 2010****

Stock name	Sector	Weight %
Rhodia	Materials	3.2
Lanxess	Materials	2.8
Mitsubishi Electric	Industrials	2.6
Credit Suisse	Financials	2.2
Intercontinental Hotels	Consumer Discretionary	2.1
Japan Tobacco	Consumer Staples	2.1
Kubota	Industrials	2.0
Hewlett Packard	Information Technology	2.0
McDonald's	Consumer Discretionary	2.0
Abbott Laboratories	Health Care	2.0

**** Excluding liquidity fund holdings which are held as an alternative to cash.

Portfolio analysis as at 31st March 2010

Sector	Portfolio %
Financials	21.6
Industrials	16.2
Consumer Discretionary	15.0
Information Technology	11.0
Materials	10.0
Energy	8.2
Consumer Staples	7.3
Health Care	5.7
Telecommunication Services	5.3
Utilities	3.5
Cash	-3.8
Total	100.0

Geographical	Portfolio %
North America	26.5
Europe Ex UK	26.2
United Kingdom	22.8
Japan	13.5
Pacific Ex Japan	8.1
Emerging Markets	6.7
Cash	-3.8
Total	100.0

By order of the Board

Divya Amin, 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.jpmoverseas.co.uk

 

END

 

 

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