Interim Management Statement

RNS Number : 2228N

JPMorgan Japanese Inv. Trust PLC

24 July 2014

 



JPMorgan Japanese Investment Trust plc

(the 'Company')

Interim Management Statement

For the three months ended 30th June 2014

This interim management statement relates to the quarter from 1st April 2014 to 30th June 2014 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	3.9%	2.7%	0.6%	32.6%	72.0%	15.8%
Benchmark	3.7%	4.2%	-1.5%	18.2%	37.2%	42.7%
Net asset value	4.7%	2.3%	0.0%	26.5%	58.2%	14.9%

* total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th June 2014	As at 22nd July 2014
Total assets	£451.7m	£465.6m
Share price	218.3p	223.6p
Net asset value	242.8p	244.4p
Discount	10.1%	8.5%
Gearing	11.7%	11.4%

Share prices shown are closing mid

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

Source: JPMAM/Morningstar

Material events

On 22^nd May 2014, the Company's results for the six months ended 31^st March 2014 were announced.

On 10^th April 2014, the Company announced that its full portfolio as at 28th February 2014 was available on its website and that the Company would be publishing the historic portfolio information, as at the end of the previous month, on the Company's website on a monthly basis going forward.

Material events post 30th June 2014

On 1st July 2014, the Company entered into arrangements to ensure compliance with the Alternative Investment Fund Managers Directive ("AIFMD").

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st April 2014	161,248,078
Shares bought back and cancelled	-
Shares issued - new	-
Shares bought back into treasury	-
Shares issued - from treasury	-
As at 30th June 2014	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 2014

Stock name	Sector	Weight %
Sumitomo Mitsui Financial	Banks		4.1
Mitsubishi UFJ Financial	Banks		4.0
Orix	Other Financing Business		3.4
Mazda Motors	Transportation Equipment		2.9
Softbank	Information & Communication		2.9
Hitachi	Electric Appliances		2.8
Keyence	Electric Appliances		2.4
Daikin Industries	Machinery		2.3
Taiheiyo Cement	Glass & Ceramics		2.3
KDDI	Information & Communication		2.2

Sector Breakdown as at 30th June 2014

	Portfolio %
Electric Appliances	15.2
Services	12.3
Banks	10.2
Information & Communication	10.2
Transportation Equipment	7.0
Retail Trade	6.6
Machinery	5.4
Other Financing Business	5.4
Pharmaceutical	4.9
Real Estate	4.6
Glass & Ceramics Chemicals	3.8 2.8
Others Cash	9.0 2.6
Total	100

By order of the Board

Rebecca Burtonwood, for and on behalf of

JPMorgan Funds Limited, Secretary

24th July 2014

Registered office: 60 Victoria Embankment, London, EC4Y 0JP

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 FUNDS 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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