Interim Management Statement

RNS Number : 3315R

JPMorgan Mid Cap Invest Trust PLC

16 November 2012

 



JPMorgan Mid Cap Investment Trust plc

Interim Management Statement

For the three months ended 30th September 2012

This interim management statement relates to the quarter from 1st July 2012 to 30th September 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	7.4%	13.4%	23.1%	33.3%	-10.0%	189.8%
Net asset value	4.2%	12.2%	22.6%	33.1%	-11.4%	172.1%
Benchmark	3.4%	8.9%	25.5%	42.0%	26.9%	278.7%

* Total return with net dividends reinvested

Source: JPMAM/Morningstar

Financial position

	As at 30th September 2012	As at 14th November 2012
Total assets	£142.8m	£143.7m
Share price	448.3p	475.0p
Net asset value	542.9p	542.4p
Discount	17.4%	12.4%
Gearing / (net cash)	7%	9.5%

Share prices shown are closing bid

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

Source: JPMAM/Morningstar

Material events

There were no material events during the quarter.

Material events post 30th September 2012

Annual General Meeting

At the Annual General Meeting ("AGM") of the Company held on 6th November 2012, all of the resolutions put to shareholders at the AGM were passed, including Special Resolutions to allow the disapplication of pre-emption rights on the allotment of shares, and allow the Company to make market purchases of up to 3,612,167 Ordinary shares representing 14.99% of the Company's issued share capital.

A final dividend of 11.5p per share was paid on 9th November 2012 to shareholders on the register at the close of business on 5th October 2012.

Material transactions

Changes to share capital

	Ordinary Shares of 25p
Shares in issue as at 1st July 2012 (excluding shares held in Treasury)	24,097,180
Shares held in Treasury as at 1st July 2012	1,400,900
Shares bought back and cancelled Shares bought back into Treasury Shares issued - from Treasury Shares issued -  new	100,000 - - -
Shares in issue at 30th September 2012 (excluding shares held in Treasury) Shares held in Treasury as at 30th September 2012	23,997,180 1,400,900

Portfolio Analyses

Top ten holdings as at 30th September 2012

Stock name	Sector	Weight %
Ashtead	Industrials	3.5
William Hill	Consumer Services	2.6
Catlin	Financials	2.3
Elementis	Basic Materials	2.2
Babcock International	Industrials	2.2
Persimmon	Consumer Goods	2.1
Micro Focus International	Technology	2.1
Senior	Industrials	2.1
Dunelm	Consumer Services	2.0
Provident Financial	Financials	2.0

Sector analysis as at 30th September 2012

	Portfolio %
Industrials	21.8
Financials	20.7
Consumer Services	20.7
Technology	9.3
Consumer Goods	7.5
Oil & Gas	7.5
Telecommunications	6.3
Basic Materials	2.9
Health Care	0.7
Utilities	0.0
Cash	2.6
Total	100.00

By order of the Board

Alison Vincent, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary

16th November 2012

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.jpmmidcap.co.uk 

 

END

 

 

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