About this trust
Investment objective and policies
- Investment objective to deliver dividend income with potential for capital growth from a portfolio of global convertible bonds.
- A convertible is typically a bond with an embedded option which allows it to be swapped for a company's shares on prescribed terms. In practice, convertibles perform like debt-equity hybrids and are expected to exhibit bond-like characteristics, providing income in normal and falling equity markets, but grow like an equity when share prices rise.
- The Company is free to invest broadly across sectors, geography, market capitalisations and credit quality.
- The value of investments and the income from them can go down and up, and you may not get back as much as you paid in. Past performance is not a guide to the future.
- For further risks associated with this trust please refer to the 'Risks' section below.
Points to Consider
- The investment objective of a trust may allow some flexibility in terms in portfolio composition.
- Exchange rate changes may cause the value of underlying overseas investments to go down as well as up.
- External factors may cause an entire asset class to decline in value. Prices and values of all shares or all bonds could decline at the same time.
- This trust may invest in non investment grade bonds, which increases the capital risk and may have an adverse effect on the performance of funds which invest in them.
- For income funds/shares - Dividend income is not guaranteed and will fluctuate.
- Derivatives are complex and funds that use them for investment purposes may be more volatile. These funds are considered to be higher risk than funds that invest only in shares.
- Convertible bonds are subject to the risks associated with both debt and equity securities, and to risks specific to convertible securities. Investors should be prepared for greater volatility than straight bond investments, with an increased risk of capital loss, but with the potential of higher returns. Their value may change significantly depending on economic and interest rate conditions, the creditworthiness of the issuer, the performance of the underlying equity and general financial market conditions. In addition, issuers of convertible bonds may fail to meet payment obligations and their credit ratings may be downgraded. This is generally known as credit risk. Convertible bonds may also be subject to lower liquidity than the underlying equity securities.
- The Fund may borrow to finance further investment (gearing). The use of gearing is likely to lead to volatility in the Net Asset Value (NAV) meaning that a relatively small movement, down or up, in the value of the Company’s assets will result in a magnified movement, in the same direction, of that NAV.
Board of Directors
In their words (as of 30 Sep 2017)
Committee Terms Of Reference
Find out more
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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.
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.
Source: Morningstar (www.morningstar.co.uk)
Morningstar Ratings™: © 2017 Morningstar. All rights reserved.
Moneyfacts award as at: 17 November 2017. ©2017 Moneyfacts Group plc. All Rights Reserved.