JPMorgan Global Emerging Markets Income Trust plc - Ordinary Shares - J.P. Morgan Asset Management
JPMorgan Global Emerging Markets Income Trust plc

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Manager Commentary

Fund Managers

In their words (as of 30 Sep 2016)

The Company's share price and net asset value outperformed the benchmark in September. South Africa was the key country contributor, while China detracted, primarily due to a lack of exposure to internet stocks, which drove the market. Following news flow and speculation around South Africa's finance minister, Pravin Gordhan, in August, the situation quietened down, allowing the market - in which we have overweight exposure - to outperform in September. Further positive contribution to performance came from exposure to Russia, which had a strong month, boosted by the rising oil price and ruble appreciation. Stock selection in Korea and Brazil also contributed positively. Stock selection in Mexico detracted, as did lack of holdings in internet companies in China. From a positioning standpoint, we reduced exposure in Poland following a change in the dividend outlook for an insurance holding. Overall positioning from a country and sector perspective remains broadly unchanged, with Taiwan and South Africa the two largest country overweights, and Korea and China the major underweights.


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AGM information

Annual General Meeting: 24 November 2016 2.00 p.m., 60 Victoria Embankment, London EC4 OJP

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*Morningstar Analyst rating as at 01 August 2016.

Morningstar rating based on ordinary shares, as at August 2016.

Morningstar RatingsTM: © 2016 Morningstar. All rights reserved.

The methodology and calculations used by the companies or organisations that provide the fund or fund manager awards and ratings are not verified by J.P. Morgan Asset Management and therefore we are unable to accept responsibility for their accuracy.  Ratings and awards should not be relied upon for making an investment decision.  Past performance is no guarantee of future results. The value of investments and the income from them may fall as well as rise and investors may not get back the full amount invested. Investment is subject to documentation (Prospectus, Key Investor Information Document (KIID) and Key Features and Terms and Conditions). 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.