JPMorgan Russian Securities 1H Net Asset Value Per Share 667.8P

30th Jun 2010 11:23

LONDON (Dow Jones)--JPMorgan Russian Securities PLC (JRS.LN), a British investment trust dedicated to investments in Russia, said Wednesday its net asset value per share for the first half of fiscal 2010 was 667.8 pence compared with 290.5 pence in 2009, adding that it is positive on the prospects for the Russian equity market in the medium to long term. MAIN FACTS: -Income from investments for the six months ended April 30 GBP1.8 million versus GBP214,000 -Pretax profit GBP112.5 million versus GBP19.8 million -EPS 202.12 pence versus 35.45 pence -Net debt at the end of the period GBP6.7 million versus Net funds GBP372,000 -Total return to shareholders was up 45.4% versus 29.1% total return of the company's benchmark, the MSCI Russian 10/40 Equities Indices Index in Sterling terms; Total return on net assets was up 43.6%. -Return on net assets was up 43.6%, representing a 14.5 percentage point out-performance of the company's benchmark index. -In the coming months, company does not expect to change its investment strategy; Company will continue to concentrate the portfolio on structural growth companies rather than cyclical companies. -Shares at 1012 GMT down 5.5 pence or 1.04%, at 521.5 pence, valuing the company at GBP288.3 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] Order free Annual Report for JPMorgan Russian Securities plc Visit http://djnweurope.ar.wilink.com/?ticker=GB0032164732 or call +44 (0)208 391 6028 (END) Dow Jones Newswires June 30, 2010 06:23 ET (10:23 GMT)