JPMorgan European Smaller Companies Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
JPMorgan European Smaller Companies Trust plc


Charting a course for growth

JPMorgan European Smaller Companies Investment Trust plc focuses on generating long-term growth by scouring European markets for tomorrow’s European and global market leaders.


Monthly Factsheet   Other trust documents   How to buy this trust  

Why invest in Europe?

Francesco Conte, Fund Manager, discusses the opportunities and challenges of investing in the European market.

Some of the themes discussed include:

  • What keeps investors wanting more out of Europe?
  • How Brexit could be an opportunity for UK investors looking at Europe
  • How smaller European companies can give you access to a global market
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About this trust



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Manager Commentary

Fund Managers

Board of Directors

  • Carolan Dobson

  • Ashok Gupta

  • Nicholas Smith

  • Stephen White

  • Marc van Gelder

In their words (as of 30 Nov 2017)

The trust underperformed a falling benchmark in November. Detractors included German industrial automation specialist Aumann, as the company released third-quarter results that were below expectations due to phasing of orders and constrained production capacity; Norwegian fish farmer Bakkafrost, due to the uncertain outlook for salmon prices and the company's lower-than-expected 2018 harvest volume guidance; and Italian domestic appliances manufacturer De'Longhi, as investors took profits after the majority shareholder sold a portion of its holding. Top performers in the month included Swiss semiconductor developer AMS, due to the company's strong growth outlook, driven by its leadership position in 3D sensing technology; Swedish cosmetics retailer Oriflame, as the company published third-quarter results showing continued strong organic growth and margin expansion; and Swedish supplier of products for recreational vehicles Dometic, as the company announced a large acquisition that will help to diversify its end markets. The earnings growth outlook for European smaller companies remains appealing, supported by the positive global economic environment.



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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.

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*Morningstar Analyst rating and FE Crown rating as at 01 February 2018.

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

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