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


We see the opportunities others may miss

JPMorgan Emerging Markets Investment Trust plc seeks to uncover quality stocks from across emerging markets that are also attractively valued, benefiting from an extensive network of country and sector specialists from one of the longest established emerging market teams in the industry.

Morningstar 5 star



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Portfolio Manager Update

Austin Forey, Portfolio Manager of the JPMorgan Emerging Markets Investment Trust plc, provides an overview of his three core areas of focus.

  • How investor perception of the emerging markets is changing
  • How to make the right emerging markets stock selections
  • Why UK investors should consider the emerging markets
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Manager Commentary

Fund Managers

Month in review

The trust performed in line with the benchmark in August. Stock selection in the information technology sector contributed to returns again during the month. Performance was led by our position in TSMC, which stands to gain market share after GlobalFoundries announced that it is exiting the 7nm-and-below market. As a result, AMD announced that it is shifting all its 7nm products to TSMC foundries. Additionally, Indian IT services company Tata Consultancy rallied further this month on continued weakness in the rupee. Underweight exposure to Turkey, the result of stock selection, was a tailwind to performance in August. Turkish equities continued to sell off amid political uncertainty in the market. Stock selection in financials was a headwind in August, with Sberbank, Russia’s largest lender, among the leading detractors. Additionally, Housing Development Finance Corp, India’s leading private sector mortgage lender, detracted from returns. Overweight exposure to Brazil, the result of stock selection, detracted from performance in August. Lojas Renner, a Brazilian department store retailer, was among the leading detractors as investors worried that increasing political uncertainty would start to weigh on consumer confidence and depress sales.

Looking ahead

While we agree that there are pockets of emerging markets (EM) where external risks are elevated, we do not believe the current spillover into the EM universe as a whole is justified. We believe most EM countries are unlikely to face the issues currently troubling Turkey and Argentina, and that many of the risks currently weighing on the market are largely priced into EM currencies and equities.


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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 as at 01 October 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.