JPMorgan Emerging Markets Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
CLOSE
JPMorgan Emerging Markets Investment Trust plc
(GB0003418950)

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

 

 

Monthly Factsheet   Other trust documents   How to buy this trust  

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
Monthly Factsheet   Annual Report   Learn more about investing in Emerging Markets   

About this trust

Risks

Performance

Performance widget loading ...

Fees

Fees widget loading ...

Portfolio

Portfolio widget loading ...

Manager Commentary

Fund Managers

Month in review

  • The trust underperformed the benchmark in September, with stock selection contributing while country allocation detracted from returns.
  • Stock selection in financials was a headwind in September, with our overweight to Housing Development Finance Corp a leading detractor amid volatility in Indian financials. During the month, the Reserve Bank of India, citing a weak governance and compliance culture at Yes Bank, insisted the company replace its current CEO early next year. Additionally, Infrastructure Leasing & Financial Services, an unlisted non-bank financial company, defaulted on some of its obligations. Despite no direct impact on our holdings, investor sentiment was negatively impacted by these recent developments.
  • Our position in JD.com was among the leading detractors from returns in the month. The company has been under pressure due to concerns about the impact of a trade war and competitive pressures that resulted in disappointing second-quarter earnings.
  • Underweight exposure to the energy sector, the result of stock selection, was a headwind to performance in September. This was partially offset by exposure to Sberbank, Russia’s largest lender, which was among the leading contributors to returns as the Russian equity market rallied after oil prices hit fresh 4-year highs.
  • Stock section in the consumer discretionary sector aided performance. Retailer Lojas Renner rose as concerns about the broader Brazilian economy eased.
  • Looking ahead

  • We believe the dollar’s bounce is unlikely to last It is our view that currently the dollar is overvalued in real terms, and widening twin deficits (fiscal and trade) should lead to dollar weakness down the road, which is likely to offer relief to the emerging market (EM) equities.
  • Given our positive view on local earnings in EM, we could see a strong bounce in EM earnings next year in dollar terms.
  • Current EM valuations represent a discount to the historical average, and we believe this may prove to be a good entry point for long-term investors, should our expectation of a quieter dollar and a bounce in EM earnings prove correct.
  • Documents

    How to buy this trust

    Learn More

    Find out more

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

    Contact us   View our other investment trusts   Our investment trust awards  

    Investor Insights

    Receive monthly articles, research and views from J.P. Morgan Asset Management.

    Sign up by emailRead related articles   

    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 October 2018.

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

    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.