JPMorgan European Investment Trust - Income - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan European Investment Trust plc - Income Shares
(GB00B17XWW44)

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.

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About this trust

Risks

Performance

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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 30 Nov 2017)

In November Europe ex UK finished around 2.0% lower, up 9.9% year-to-date and up 16.4% over the last 12 months. The euro recovered some of the ground it had lost against the US dollar in October, but is still below its year-to-date high. The oil price made new 2017 highs, and industrial metals prices were also strong. Meanwhile, bond markets rallied, despite the signs of strong growth, bringing long-term yields lower. This yield curve flattening meant that interest-sensitive sectors such as real estate, consumer staples and energy outperformed, while cyclicals like consumer discretionary, industrials and information technology underperformed. The Income class NAV outperformed the market and stock selection was positive. Income investing as a style outperformed as interest rates fell, and it was this style element which, more than anything, drove the fund's outperformance. At a stock level, the main contributors were large cyclical stocks that fell, but which we did not own because they do not qualify on yield grounds: Vestas, Leonardo, Altice (which more than halved after running into financing issues) and Cap Gemini all fall under this category. We also benefited from our overweight holdings in the real estate sector, and credit insurer Euler Hermes was bid for.

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Important information

This is a promotional page and as such the views contained herein are not to be taken as 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 on this page 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 at the date of publishing. They are considered to be reliable at the time of publishing, 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 is not a reliable indicator to 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. You should note that if you contact J.P. Morgan Asset Management by telephone those lines may be recorded and monitored for legal, security and training purposes. You should also take note that information and data from communications with you will be collected, stored and processed by J.P. Morgan Asset Management in accordance with the EMEA Privacy Policy which can be accessed through the following website www.jpmorgan.com/pages/privacy.

Investment is subject to documentation (Investor Disclosure Document, Key Features and Terms and Conditions), copies of which can be obtained free of charge from JPMorgan Asset Management Marketing Limited. Issued by JPMorgan Asset Management Marketing Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Registered in England No: 288553. Registered address: 25 Bank St, Canary Wharf, London E14 5JP.

*Morningstar Analyst rating as at 01 January 2018.

*FE Crown rating as at 01 January 2018.

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

Morningstar Ratings™: © 2017 Morningstar. All rights reserved.

FE Crown Fund Ratings © 2017 FE. All rights reserved.

Moneyfacts award as at: 17 November 2017. ©2017 Moneyfacts Group plc. All Rights Reserved.

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