Interim Management Statement

RNS Number : 1284W

JPMorgan Japanese Inv. Trust PLC

22 January 2013

 

JPMorgan Japanese Investment Trust plc

(the 'Company')

Interim Management Statement

For the three months ended 31^st December 2012

This interim management statement relates to the quarter from 1^st October 2012 to 31^st December 2012 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	4.4%	9.5%	4.4%	14.7%	-2.7%	36.9%
Net asset value	1.2%	2.7%	1.4%	8.1%	-8.0%	23.1%
Benchmark	3.6%	4.3%	2.6%	7.8%	1.7%	61.1%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 31st   December 2012	As at 21st January 2013
Total assets	£333.7m	£354.9m
Share price	165.3p	167.0p
Net asset value	184.9p	192.4p
Discount	10.6%	13.2%
Gearing	11.5%	14.4%

Share prices shown are closing mid

Net asset values are shown excluding income with debt at par value

Source: JPMAM/Morningstar

Material events

The Company's final results for the year ended 30^th September 2012 were announced on 13^th November 2012. 

At the Annual General Meeting of the Company, held on 20^th December 2012, all of the Ordinary Resolutions put to shareholders were passed.  In addition, the following items of Special Business were passed which:

i)          allow the Company to allot new Ordinary shares up to an aggregate nominal amount of £2,016,475 representing approximately 5% of the Company's issued Ordinary share capital;

ii)         allow the Company to disapply pre-emption rights on allotment of relevant securities; and

iii)        allow the Company to make market purchases of up to 24,181,579 Ordinary shares, representing 14.99% of the Company's issued share capital;

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st October 2012	161,318,078
Shares bought back and cancelled	-
Shares issued - new	-
Shares bought back into treasury	-
Shares issued - from treasury	-
As at 31st December 2012	161,318,078

There were no share issues or buybacks during the quarter and there have been no share issues or buybacks since the period end.

Portfolio Analyses

Top ten holdings as at 31^st December 2012

Stock name	Sector	Weight %
Mitsubishi UFJ Financial	Banks		4.4
Sumitomo Mitsui Financial	Banks		4.2
Orix	Other Financing Business		3.2
Nippon Telegraph & Telephone	Information & Communication		3.1
Sumitomo Realty & Development	Real Estate		3.0
Isuzu Motors	Transportation Equipment		2.8
Japan Tobacco	Foods		2.7
Tokio Marine	Insurance		2.7
Fanuc	Electric Appliances		2.7
Hitachi	Electric Appliances		2.4

Sector Breakdown as at 31^st December 2012

	Portfolio %
Transportation Equipment	13.1
Banks	12.1
Electric Appliances	11.5
Retail Trade	9.7
Information & Communication	8.6
Wholesale Trade	8.0
Services	7.7
Real Estate	4.8
Other Financing Business	4.4
Foods	4.1
Machinery Insurance	3.3 2.9
Chemicals Other Cash	2.8 8.6 -1.6
Total	100.0

By order of the Board

Rebecca Burtonwood, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

22^nd January 2013

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.

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

JPMORGAN ASSET MANAGEMENT (UK) LIMITED

ENDS

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 

 

END

 

 

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