JPMorgan European Investment Trust - Income - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan European Investment Trust plc - Income Shares
(GB00B17XWW44)
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JPMORGAN EUROPEAN INVESTMENT TRUST PLC - INCOME SHARES

Be prepared for any weather

JPMorgan European Investment Trust Income Shares provide a disciplined and rigorous approach to investing in continental European companies paying sustainable dividends.

 

Monthly Factsheet   Other trust documents  
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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

  • Andrew Adcock

  • Josephine Dixon

  • Stephen Goldman

  • Jutta Rosenborg

  • Stephen Russell

In their words (as of )

The Company's share price and net asset value underperformed the benchmark. The portfolio benefited from its overweight position in utilities, with stock selection also contributing positively. Rubis, which distributes and stores liquefied petroleum gas and other liquids, beat estimates and saw further upgrades, and Iren in Italy also saw good upgrades following its results. In the consumer area, we benefited from being underweight some of the more expensive names, such as Pandora, which makes mid-range jewellery, and Hennes & Mauritz, previously a stock market darling but where estimates for profitability have fallen by 25% in the last 18 months. We suffered, however, in information technology. Many of the stocks here do not yield sufficiently for us to consider them for investment, so we suffered from being underweight this sector, which topped the ranks in February. We also lost out from not owning big healthcare names such as Riche and Novartis, which again do not yield enough for inclusion but which outperformed.

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

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AGM information

Annual General Meeting: 17 July 2017 2.30pm 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 Gearing represents the excess amount above shareholders' funds of total investments (excluding liquidity fund holdings) expressed as a percentage of the shareholders' funds. If the amount calculated is negative, this is known as a "net cash" position.
7 Based on total investments, which include investment of any borrowings to gear the portfolio and excludes liquidity fund holdings and net current assets.