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

JPMORGAN CHINESE INVESTMENT TRUST PLC

Strategic thinking for Chinese markets

JPMorgan Chinese Investment Trust plc invests in Chinese companies listed on domestic exchanges and companies in Greater China by focusing on the growth of “New China” – companies and sectors that are capitalising on the transition of the country to a more consumer-driven economy.

   Morningstar 4 star       *

 

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Manager Commentary

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In their words (as of 31 May 2018)

The trust outperformed the benchmark in May. Stock picks in healthcare were among the top contributors. Drug manufacturers Jiangsu Hengrui and CSPC contributed to performance, as the former received China Food and Drug Administration approvals for its oncology treatments and the latter rose on the back of strong first-quarter earnings. Select technology holdings, particularly online operators, also added value. Newly initiated holdings in online video platform iQiyi and online content platform Bilibili also rallied on good results. Stock selection in financials was more mixed but positive overall. Our position in independent wealth and asset manager Noah added value as shares continued to rally on little stock-specific newsflow. Meanwhile, banks retreated, given worries of increased bond defaults and further financial deleveraging. Not owning the large cap, index heavy banks, including China Construction Bank, ICBC and Bank of China, added value over the month. However, overweights in China Merchants Bank, ChongQing Rural Commercial Bank, Bank of Ningbo and Postal Savings Bank detracted. Our lack of exposure to energy also hurt performance in May, given continuous strength in the oil price.

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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 www.jpmorgan.com/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 www.jpmam.co.uk/investmenttrust. 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 as at 01 July 2018.

Source: Morningstar (www.morningstar.co.uk)

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

FE Crown Fund Ratings © 2018 FE. 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.