JPMorgan Emerg Mkts JMG Interim Management Statement

  JPMorgan Emerg Mkts (JMG) - Interim Management Statement

RNS Number : 4656R
JPMorgan Emerging Mkts Invest Trust
19 November 2012




                JPMorgan Emerging Markets 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        2.1%     2.0%  10.9%   21.4%   23.4%   534.1%
Net asset value    2.8%     4.2%  13.3%   26.0%   24.5%   486.3%
Benchmark          4.3%     4.7%  12.8%   16.7%   18.3%   368.2%

* Total return using capital-only NAVs, with net dividends reinvested

Source: JPMAM/Morningstar



Financial position



                         As at 30th September 2012 As at 16th November

                                                          2012
Total assets                      £750.2m                £755.7m
Share price                       542.0p                 547.5p
Subscription Share price           64.0p                  76.0p
Net asset value                   603.0p                 614.95p
Discount                           10.1%                 10.97%
Net Cash                           4.7%                   1.02%

Share prices shown are closing, bid

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

Source: JPMAM/Morningstar



Material events



At the Annual General Meeting of the  Company held on 12th November 2012,  all 
the ordinary business put to shareholders was passed. In addition, three items
of special business were passed which:



i.) allow the  Company to  allot new shares  up to  an aggregate  nominal 
amount of £1,523,800, representing 5%  of the Company's issued Ordinary  share 
capital;



ii.) allow the disapplication  of pre-emption rights  on the allotment  of 
new Ordinary shares and by way of a sale of Treasury shares; and



iii.) allow  the Company  to  make market  purchases  of up  to  18,273,418 
Ordinary shares and 1,528,399 Subscription shares each representing 14.99%  of 
the Company's issued share capital.

The full text  of all the  resolutions can be  found in the  Notice of  Annual 
General Meeting contained in the Annual Report and Accounts which is available
for viewing  at  the  National  Storage Mechanism  which  can  be  located  at 
www.morningstar.co.uk/uk/NSM    and     from    the     Company's     website, 
www.jpmemergingmarkets.co.uk

The Investment Manager's AGM presentation and a summary of proxy votes
received are available on the Company's website, www.jpmemergingmarkets.co.uk

                                                                             

Material transactions



Changes to share capital

                                                     Ordinary Shares of 25p
Ordinary shares in issue as at 1st July 2012         114,762,153
Shares bought back in to Treasury                    93,335
Shares issued due to exercise of Subscription shares 7,235,236
Ordinary Shares in issue as at 30th September 2012   121,904,054

Ordinary Shares in issue as at 30th September 2012   10,196,136



Since 30th September 2012, the Company has issued, due to exercise of
Subscription shares, a further 608 shares and has bought back a total of
831,420 shares into Treasury.



Portfolio Analyses



Top ten holdings as at 30th September 2012



Stock name                             Country        Weight %
Housing Development Finance            India          3.8
Taiwan Semiconductor Manufacturing ADS Taiwan         2.7
Grupo Financiero Banorte               Mexico         2.3
Companhia Vale do Rio Doce ADR         Brazil         2.3
Ultrapar Participacoes                 Brazil         2.2
Hyundai Motor                          Korea          2.2
International Personal Finance         United Kingdom 2.2
Petroleo Brasileiro ADR                Brazil         2.2
Hyundai Mobis                          Korea          2.1
Turkiye Garanti Bankasi                Turkey         2.1



Sector analysis as at 30th September 2012



Sector                     Portfolio %
Financials                 31.9
Consumer Staples           18.6
Consumer Discretionary     10.5
Industrials                9.3
Information Technology     8.9
Materials                  6.2
Energy                     5.9
Telecommunication Services 3.5
Health Care                0.7
Cash                       4.5
Total                      100.00



Geographical Analysis as at 30th September 2012



Country      Portfolio %
Brazil       16.4
India        13.1
South Africa 12.9
Hong Kong    10.0
China        8.8
Mexico       6.7
South Korea  6.1
Taiwan       5.4
Indonesia    4.6
Turkey       2.8
Russia       2.7
UK           2.2
Malaysia     1.4
Chile        1.3
Argentina    1.1
Cash         4.5
Total        100.00



By order of the Board

Jonathan Latter, for and on behalf of

JPMorgan Asset Management (UK) Limited, Secretary



19th November 2012



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.jpmemergingmarkets.co.uk



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSDMMMMFLFGZZM -0- Nov/19/2012 13:45 GMT
 
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