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


A local knows the best route

JPMorgan American Investment Trust plc aims to generate attractive long-term returns from the world’s largest stock market by focusing on high quality companies that are also reasonably priced.

Morningstar 5 star          *

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Why invest in JPMorgan American Investment Trust plc?

Garret Fish, Fund Manager of the JPMorgan American Investment Trust, discusses the opportunities and challenges of investing in the US market and why this trust continues to offer dynamic access to an ever-evolving market.

Some of the key themes discussed include:

  • What makes the US such a vibrant economy?
  • Why investors should think America first in a portfolio
  • How to get core US exposure to the best of the US
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JPMorgan American Investment Trust in the news

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About this trust



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Manager Commentary

Fund Managers

Month in review

  • The trust underperformed its benchmark in September. The Standard & Poor's 500 Index (S&P 500®) ended the month up 0.57%, with strong corporate fundamentals acting as a key contributor. Within the index, the healthcare and energy sectors led, rising 2.93% and 2.59% respectively in US dollar terms. The real estate and financials sectors were the greatest underperformers, falling -2.65% and -2.22% respectively.
  • Stock selection within the energy and financials sectors weighed on overall performance. Within the financials space, our overweight in Wells Fargo featured among the largest detractors. Almost two years after Wells Fargo’s initial account opening scandal, the bank’s legal woes have unfortunately not abated. While we are certainly disappointed by recent events, we maintain a position given that that Wells Fargo is trading at a discount to its peers. This is a gap we believe it can close over time, considering its strong regional banking franchise and management’s efforts to rectify the underlying sales practice issues.
  • In contrast, stock selection within the information technology sector buoyed performance. Our lack of exposure in Facebook aided performance: the company ticked down during the month amid weak forward guidance and concerns regarding regulation and consumer engagement. Elsewhere in the sector, our overweight in Qualcomm also proved additive. Qualcomm reported a strong quarter as well as the announcement of a substantial buyback.
  • Looking ahead

  • We continue to focus on the fundamentals of the economy and of company earnings. Our core analysts’ estimate for 2018 S&P 500® earnings currently projects 23% earnings growth for S&P 500® companies. The implications of trade, Federal Reserve policy and the tightening labour market will be integral to investor sentiment and will likely continue to contribute to increased volatility.
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    Kepler Investment Research

    This Investment Trust has been reviewed by a third party agency. Contents of the external links have been prepared by third parties and do not necessarily represent the views of J.P. Morgan Asset Management. These third parties may receive a fee by the Board of Directors of this Investment Trust. J.P. Morgan Asset Management does not endorse or attest to completeness and accuracy of these contents. Reliance upon these contents is at the sole discretion of the reader.

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    Important information

    This is a marketing communication and as such the views contained herein are not to be taken as an advice or recommendation to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research in this document has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management. 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. It should be noted that the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Changes in exchange rates may have an adverse effect on the value, price or income of the products or underlying overseas investments. Past performance and yield are not reliable indicators of current and future results. There is no guarantee that any forecast made will come to pass. Furthermore, whilst it is the intention to achieve the investment objective of the investment products, there can be no assurance that those objectives will be met. J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy

    Investment is subject to documentation. The Investor Disclosure Document, and Key Features / Terms & Conditions can be obtained free of charge from JPMorgan Asset Management (UK) Limited, and the Key Information Document can be obtained from JPMorgan Funds Limited or This communication is issued by JPMorgan Asset Management (UK) Limited, which is authorised and regulated in the UK by the Financial Conduct Authority. Registered in England No: 01161446. Registered address: 25 Bank Street, Canary Wharf, London E14 5JP.

    Morningstar analyst rating, FE Crown rating, Rayner Spencer Mills rating, as at 01 November 2018.

    Source: Morningstar (

    Morningstar Ratings™: © 2018 Morningstar. All rights reserved.

    Moneyfacts award as at: 17 November 2017. ©2017 Moneyfacts Group plc. All Rights Reserved.

    Moneywise Investment Trust awards as at: 28 March 2018. Moneywise Publishing Ltd ©2018. All Rights Reserved.

    Past performance is not a reliable indicator of current and future results.