Interim Management Statement

RNS Number : 7803G

JPMorgan Fleming Japanese Smllr Cos

05 February 2010

 



JPMorgan Fleming Japanese Smaller Companies 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
Share price	6.5%	-11.6%	-8.3%
Net asset value**	4.3%	-7.5%	-12.7%
Benchmark	0.0%	-9.7%	-6.6%

* total return with net dividends reinvested

** Capital only, diluted for Treasury shares and Subscription shares

Source: JPMAM/Morningstar

Financial position

	As at 31st  December 2009	As at 4th February 2010
Total assets	£77.3m	£81.3m
Share price	134.8p	145.5p
Net asset value	159.3p	168.3p
Discount	15.4%	13.5%
Subscription Share price	30.0p	30.0p
Gearing	116.6%	116.9%

Share prices shown are closing bid

Net asset values are Capital only with debt at par value, diluted for Treasury shares and Subscription shares

Source: JPMAM/ Morningstar

Material events

There were no material events during the period.

Material transactions

Changes to share capital

	Ordinary Shares of 10p
Shares in issue as at 1st October 2009 (including shares held in Treasury)	39,329,986
Shares held in Treasury as at 1st October 2009	396,000
Shares bought back and cancelled	-
Shares issued - new Shares issued - exercise of Subscription shares Shares bought back into Treasury Shares issued - from Treasury	- 23,176 25,000 -
Shares in issue at 31st December 2009	39,353,162
Treasury shares in issue at 31st December 2009	419,500

Since the period end and up to the date of this announcement, the Company has issued 7,643 Ordinary shares following the exercise of conversion rights.

	Subscription Shares of 1p
Shares in issue as at 1st October 2009	7,775,657
Shares exercised	23,176
Shares repurchased	-
Shares in issue at 31st December 2009	7,752,381

Portfolio

Top ten holdings as at 31st December 2009

Stock name	Sector	% of Portfolio
Haseko	Consumer Discretionary	3.2
Osaka Securities Exchange	Financials	3.1
Yokogawa Electric	Information Technology	3.0
Musashi Seimitsu Industries	Consumer Discretionary	2.7
SBI	Financials	2.6
Trancom	Industrials	2.5
Nissin Kogyo	Consumer Discretionary	2.4
Gree	Information Technology	2.4
CKD Corporation	Industrials	2.4
F.C.C.	Consumer Discretionary	2.4

Sector analysis as at 31st December 2009

	% of Portfolio
Consumer Discretionary	31.9
Industrials	25.3
Information Technology	18.7
Financials	11.0
Materials	4.4
Consumer Staples	3.7
Health Care	1.4
Energy	0.1
Utilities	0.0
Telecommunication Services	0.0
Cash	3.5
Total	100.0

By order of the Board

Christopher Legg, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

5th 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.jpmfjapanesesmallercompanies.co.uk

 

END

 

 

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