JPMorgan Japanese Investment Trust plc
(the 'Company')
Interim Management Statement
For the three months ended 3oth June 2008
This interim management statement relates to the quarter from 1st April 2008 to
30th June 2008 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 |
-7.6% |
-2.3% |
-22.4% |
-16.1% |
17.4% |
28.1% |
Net asset value |
-8.6% |
-6.1% |
-22.8% |
-16.9% |
12.1% |
23.5% |
Benchmark |
-7.2% |
2.1% |
-11.3% |
9.4% |
45.2% |
29.2% |
* total return with net dividends reinvested
Source: JPMAM/Fundamental Data
Financial position
|
As at 30th June 2008 |
As at 5th August 2008 |
Total assets |
£335.2m |
£311.3 |
Share price |
169.5p |
158.3p |
Net asset value |
190.7p |
177.1p |
Discount |
11.1% |
10.6% |
Gearing |
106.8% |
106.3% |
Share prices shown are closing mid
Net asset values are shown excluding income with debt at fair value
Source: JPMAM/Fundamental Data
Material transactions
Changes to share capital
|
Ordinary Shares of 25p |
|
|
Shares in issue as at 1st April 2008 |
174,028,919 |
Shares bought back and cancelled |
- |
Shares issued - new Shares bought back into treasury Shares issued - from treasury |
- - - |
As at 30th June 2008 |
174,028,919 |
The Company has not issued any shares from treasury or cancelled any shares in this financial quarter.
Portfolio
Top ten holdings as at 30th June 2008
Stock name |
Sector |
Weight % |
|||
Mitsubishi UFJ Financial Group |
Banks |
4.9 |
|||
Toyota Motor |
Transportation Equipment |
4.6 |
|||
Honda Motor |
Transportation Equipment |
4.2 |
|||
Sumitomo Mitsui Financial |
Banks |
3.9 |
|||
Canon |
Electric Appliances |
3.7 |
|||
Nintendo |
Other Products |
3.3 |
|||
Japan Tobacco |
Foods |
3.3 |
|||
Mitsui O.S.K. Lines |
Marine Transportation |
2.7 |
|||
Komatsu |
Machinery |
2.5 |
|||
Mitsui |
Wholesale Trade |
2.5 |
Sector Breakdown as at 30th June 2008
|
Portfolio % |
Banks |
14.0 |
Transportation Equipment |
13.9 |
Electric Appliances |
12.0 |
Wholesale Trade |
10.3 |
Machinery |
9.9 |
Other |
9.0 |
Iron & Steel |
6.3 |
Information & Communication |
5.6 |
Land Transportation |
3.8 |
Marine Transportation |
3.7 |
Retail Trade |
3.6 |
Other Products |
3.3 |
Foods |
3.3 |
Pharmaceutical |
3.0 |
Chemicals |
2.8 |
Construction |
2.2 |
Cash |
-6.7 |
Total |
100.00 |
By order of the Board
Andrew Norman, for and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary
6th August 2008
020 7742 6000
Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ
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.jpmjapanese.co.uk