JPMorgan Brazil Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan Brazil Investment Trust plc
(GB00B602HS43)
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About this trust

Risks

Performance

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Fees

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Portfolio

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Manager Commentary

Fund Managers

Board of Directors

  • Howard Myles

  • Mark Bridgeman

  • Victor Bulmer-Thomas

In their words (as of )

The Company's share price and net asset value outperformed the benchmark, led by stock selection. In consumer staples, our lack of exposure to BRF, a large food conglomerate, added to relative returns. The stock underperformed following its move to spend USD 245 million to acquire 80% of Banvit, a Turkish poultry company. Our lack of exposure to Petrobras (energy), which was a top detractor in 2016, added to performance as the stock sold-off following a fall in the oil price. On the negative side, our underweight position in materials detracted. Vale once again performed well as the price of iron ore remained resilient. Elsewhere in materials, our exposure to Suzano detracted. In January we added to our position in Cielo, a leading payment system operator. The stock de-rated on the back of fears that a more stringent regulatory environment would be negative for profits. Given current valuations and our reassessment of the investment case, we viewed the recent price weakness as a buying opportunity.

Documents

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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Find out more

For contact details and more information on our trust range use the following links:

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AGM information

Annual General Meeting: 08 September 2017 2.00pm, 60 Victoria Embankment, London, EC4Y 0JP

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Disclaimer

Benchmark Source: MSCI. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express of implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI's express written consent.
Source:Morningstar (www.morningstar.co.uk)
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.
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.