New manager of JPMorgan Overseas Investment Trust returns 29%

Since Jeroen Huysinga took over the management of the JPMorgan Overseas Investment Trust one year ago, the Company's share price has returned 28.95% and its NAV has returned 27.15% (from 1 October 2008 to 30 September 2009). The Company's benchmark, the MSCI AC World Index, returned 11.13% over the same period.

The Investment Trust's Board decided to adopt J.P. Morgan Asset Management's global focus strategy, led by Huysinga, on 1st October last year, a strategy which concentrates on stock picking utilising a team of analysts located around the world. Huysinga says this strategy has provided him with the ability to select undervalued stocks with strong growth potential.

Huysinga added, "A combination of valuation and strong stock specific insight gleaned from our team of analysts gives me the ability to select stocks irrespective of their geography or sector. This has led to the portfolio's construction being significantly different from that of our benchmark."

Huysinga went on to say, "Another significant change to the portfolio since October 2008 has been the reduction in the average market capitalisation of stocks held. This has also benefited us as stocks with smaller market capitalisation have recently outperformed."

The JPMorgan Overseas Investment Trust's is currently 5% geared which reflects Huysinga's positive view on the future prospects for the stocks he holds in the portfolio.

The Company has an active buyback policy which aims to limit the discount at which its shares trade to NAV at around 5%.