JPMorgan American Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
JPMorgan American Investment Trust plc

About this trust



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Manager Commentary

Fund Managers

In their words (as of 31 Oct 2016)

The Company's share price and net asset value outperformed the benchmark in October. Stock selection in the energy and industrials sectors contributed positively to relative returns. In energy, our overweight position in Valero Energy was among the top contributors. Shares outperformed over the period following strong quarterly earnings results, as its refineries increased crude oil throughput and it was able to lower the operating costs per barrel. At the security level, our overweight in industrials name Northrop also added value. In contrast, weak stock selection in the healthcare and financials sectors weighed on returns. In healthcare, our overweight position in Amgen was the largest detractor as shares traded lower. At the security level, our lack of exposure to consumer discretionary name Netflix also weighed on relative performance. The stock reported better-than-expected third-quarter earnings results and raised its forward guidance for subscriber growth.


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AGM information

Annual General Meeting: 11 May 2017 2.30pm at 60 Victoria Embankment, London, EC4Y 0JP

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Source:Morningstar (
3 Actual gearing: Represents the excess amount above shareholders' funds of total assets less cash/cash equivalents, expressed as a percentage of shareholders funds. If the amount calculated is negative, this represents a net cash position.
4 Net asset value assumes that shares held in treasury (if any) have been re issued at the previous nights closing price.
7 Non-Benchmark holdings (where held) are classified in the appropriate sector/region. Cash is net current assets and holdings used as cash substitutes if applicable.