JPMorgan Japanese Investment Trust plc
(the 'Company')
Interim Management Statement
For the three months ended 30th June 2013
This interim management statement relates to the quarter from 1st April 2013 to 30th June 2013 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 |
3.1% |
10.7% |
40.0% |
51.3% |
43.3% |
68.2% |
Net asset value |
1.2% |
7.9% |
34.6% |
38.6% |
40.1% |
57.0% |
Benchmark |
1.6% |
4.0% |
24.9% |
26.1% |
32.7% |
92.7% |
* total return with net dividends reinvested
Source: JPMAM/Morningstar
Financial position
|
As at 30th June 2013 |
As at 18th July 2013 |
Total assets |
£464.6m |
£432.4m |
Share price |
219.5p |
240.0p |
Net asset value |
245.3p |
268.1p |
Discount |
-10.5% |
10.49% |
Gearing |
10.9% |
12.0% |
Share prices shown are closing mid
Net asset values are shown excluding income with debt at par value
Source: JPMAM/Morningstar
Material events
On 21st May 2013, the Company's results for the six months ended 31st March 2013 were announced.
On 21st May 2013 the Company's board announced the appointment of Sir Stephen Gomersall, KCMG as a non-executive Director of the Company with effect from 1st July 2013.
Material transactions
Changes to share capital
|
Ordinary Shares of 25p |
|
|
Shares in issue as at 1st April 2013 |
161,248,078 |
Shares bought back and cancelled |
- |
Shares issued - new |
- |
Shares bought back into treasury |
- |
Shares issued - from treasury |
- |
As at 30th June 2013 |
161,248,078 |
There were no share issues or buybacks during the quarter or since the period end.
Portfolio Analyses
Top ten holdings as at 30th June 2013
Stock name |
Sector |
Weight % |
|
||
Sumitomo Mitsui Financial |
Banks |
4.3 |
|||
Mitsubishi UFJ Financial |
Banks |
4.0 |
|
||
Softbank |
Information & Communication |
3.1 |
|
||
Orix |
Other Financial Business |
3.0 |
|
||
Hitachi |
Electric Appliances |
2.7 |
|
||
Japan Tobacco |
Foods |
2.6 |
|
||
Sumitomo Realty & Development |
Real Estate |
2.5 |
|
||
Taiheiyo Cement |
Glass & Ceramics |
2.5 |
|
||
KDDI |
Information & Communication |
2.0 |
|
||
Makita |
Machinery |
2.0 |
|
||
Sector Breakdown as at 30th June 2013
|
Portfolio % |
Banks |
11.5 |
Information & Communication |
9.8 |
Transportation Equipment |
9.4 |
Electric Appliances |
9.0 |
Services |
8.7 |
Retail Trade |
7.9 |
Real Estate |
7.4 |
Other Financing Business |
6.0 |
Machinery |
5.0 |
Pharmaceutical |
3.5 |
Foods Glass & Ceramics |
3.4 2.5 |
Chemicals Construction Wholesale Trade |
2.3 2.2 2.0 |
Non-Ferrous Metals |
1.8 |
Metal Products |
1.7 |
Securities & Commodity Futures |
0.8 |
Insurance |
0.2 |
Cash |
4.9 |
Total |
100 |
By order of the Board
Rebecca Burtonwood, for and on behalf of
JPMorgan Asset Management (UK) Limited, Secretary
19th July 2013
Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ
Telephone: 020 7742 4000
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