Swiss Franc soars as SNB pulls plug on currency capContributor JPMAM UK
The Swiss National Bank (SNB) today unexpectedly abandoned its minimum exchange rate for the Swiss franc vs. the euro. The SNB said the cap, which was introduced in September 2011, was no longer justified. However, the announcement has shocked markets, with the Swiss franc soaring by as much as 30% against the euro and US dollar in chaotic trading. The SNB is lowering interest rates significantly to ensure that the discontinuation of the minimum exchange rate does not lead to an inappropriate tightening of monetary conditions.
This highly selective fund focuses on investing in companies that stand to benefit most from Europe's recovery.
This is one of the few investment trusts to focus on the European smaller companies market – allowing investors to share in the growth potential of an exciting asset class through a disciplined investment strategy managed by an experienced and longstanding team.
Please be aware that this material is for information purposes only. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are, unless otherwise stated, J.P. Morgan Asset Management’s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all-inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you. JPMorgan Asset Management Marketing Limited accepts no legal responsibility or liability for any matter or opinion expressed in this material.
The value of investments and the income from them can fall as well as rise and investors may not get back the full amount invested. Past performance is not a guide to the future.