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

About this trust



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Manager Commentary

Fund Managers

Board of Directors

  • Andrew Hutton

  • Sarah Fromson

  • Richard Robinson

  • Caroline Gulliver

In their words (as of )

The Company's share price outperformed the benchmark, while the net asset value underperformed. Stock selection in South Africa, Brazil and Mexico detracted, while positions in Russia and Taiwan contributed positively. South African stock selection caused the biggest drag, as banking stocks suffered from weakness following a report on state assistance, which caused tension with the finance minister. Brazil started 2017 strongly. We have been trimming back our Brazilian exposure in recent months as expected returns have reduced following a strong run, and we now hold a small underweight. Stock selection in this market was negative, primarily due to the zero allocation to iron ore producer Vale, which rallied. Mexican exposure negatively impacted relative returns, although this is unsurprising considering the headlines over politics and trade. Russia continues to benefit from improved political sentiment, and our overweight here is a function of our stock-level investments. Moscow Exchange, one of our top 10 positions, was strong as the stock benefited from the pick-up in investor appetite. Taiwan remains our largest active country position, driven by technology positions, several of which performed strongly.


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AGM information

Annual General Meeting: 27 November 2016 2.00 p.m., 60 Victoria Embankment, London EC4 OJP.



*Morningstar Analyst rating as at 01 February 2017.

Morningstar RatingsTM: © 2017 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.