JPMorgan Chinese Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan Chinese Investment Trust plc
(GB0003435012)
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About this trust

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Manager Commentary

Fund Managers

In their words (as of )

The Company's share price outperformed the benchmark, while the net asset value underperformed. On the back of the US presidential election results, November was a style-driven month, with rotation into select sectors such as financials and commodities and out of growth and expensive bond proxies. Life insurers rallied on rising yields. State-owned China Life Insurance rallied along with the broader sector and our zero weight in the stock detracted from returns. The internet sector was also generally weak, coupled with a mixed third-quarter results season. Our overweight in Vipshop struggled. Underweights in "old China" cyclicals, such as large cap banks, also negatively impacted returns. On a stock-specific basis, Taiwan Paiho corrected on weaker-than-expected sales momentum. On the upside, our life insurance overweights, including China Life Insurance (Taiwan), China Taiping Insurance and Ping An Insurance, contributed positively. Our underweight in China Mobile also added value. Shares of Brilliance China Automotive rose thanks to a strong product cycle and solid year-on-year growth.

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AGM information

Annual General Meeting: 31 January 2017 11.30am at 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.