JPMorgan Global Growth & Income plc - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan Global Growth & Income plc
(GB00BYMKY695)
How to buy this trust

JPMORGAN GLOBAL GROWTH & INCOME PLC

A distinctive strategy for today’s markets

JPMorgan Global Growth & Income plc provides the best of both worlds. The manager focuses on investing in the best ideas from across the world’s stock market, whilst the Company delivers a predictable quarterly income distribution – set at the beginning of its financial year.

   Morningstar 5 star     

      *

 

Monthly Factsheet   Other trust documents   How to buy this trust  

Why invest Globally?

Frances Gerhold, Client Portfolio Manager, discusses the opportunities and challenges of investing in a global market.

Some of the themes discussed include:

  • What investing globally means for investors
  • Why being selective about stock choices makes a difference when investing globally
  • How do you get both income and growth?
Monthly Factsheet   Annual Report   Learn more about investing Globally  

About this trust

Why invest in this trust

Expertise
  • Tapping into the local proprietary analysis of JPMorgan’s award winning and experienced global research team*
Portfolio
  • A global best ideas – go anywhere – portfolio, with the manager focused on identifying companies that will provide the best total returns.
Results
  • Provides the best of both worlds - predictable quarterly income and long-term growth from the best global ideas

Investment objective and policies

To provide total returns and outperform the MSCI All Country World Index over the long-term by investing in companies based around the world. The Company makes quarterly dividends, that are set at the beginning of each financial year, targeting at least 4% at the time of the announcement over the year. The manager is focused on building a high conviction portfolio of typically 50 - 90 stocks, drawing on an investment process underpinned by fundamental research. Portfolio construction is driven by bottom-up stock selection rather than geographical or sector allocation. Currency exposure is predominantly hedged back towards the benchmark. The Company uses borrowing to gear the portfolio within a range of 5% cash to 20 geared under normal market conditions. The Company will issue shares from Treasury at a premium to NAV and will buyback shares into Treasury with the aim of keeping the discount to NAV around 5%. In both cases NAV is calculated with debt at par value.

Risks

Points to consider

  • Exchange rate changes may cause the value of underlying overseas investments to go down as well as up.
  • Investments in emerging markets may involve a higher element of risk due to political and economic instability and underdeveloped markets and systems. Shares may also be traded less frequently than those on established markets. This means that there may be difficulty in both buying and selling shares and individual share prices may be subject to short-term price fluctuations.
  • Where permitted, a trust may invest in other investment trusts that utilise gearing (borrowing) which will exaggerate market movements both up and down.
  • This fund may use derivatives for investment purposes or for efficient portfolio management.
  • 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 utlilise gearing (borrowing) which will exaggerate market movements both up and down.
  • This trust may also invest in smaller companies which may increase its risk profile.

Performance

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Fees

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Portfolio

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Manager Commentary

Fund Managers

In their words (as of 31 May 2018)

The trust underperformed its benchmark, the MSCI World Index, in May. Underperformance was primarily driven by stock selection in the energy, telecommunications and technology semi & hardware sectors. The leading detractor was Japanese semiconductor manufacturer Renesas Electronics, as the company reported higher inventory and slowing business demand. Brewing giant Molson Coors also detracted as the stock fell after the company reported earnings that were short of expectations due to weak US beer demand. Stock selection in the retail and transportation sectors contributed positively to returns. The leading contributor was US-based software company Tableau Software, as it delivered a solid set of earnings on the back of strong demand growth for subscription offerings. US home retail improvement chain Lowe's also contributed to returns following the decision by long-time CEO Robert Niblock to retire - a move that was received positively by investors. On a regional basis, returns were flat in the Pacific excluding Japan and negative elsewhere. We continue to expect a synchronised global recovery in economic growth and earnings in 2018. While growth momentum has certainly slowed from the highs witnessed in 2017, economic fundamentals remain robust.

Documents

Trust Information

Committee Terms Of Reference

Research

This Investment Trust has been reviewed by a third party agency. Contents of the external links have been prepared by third parties and do not necessarily represent the views of J.P. Morgan Asset Management. These third parties may receive a fee by the Board of Directors of this Investment Trust. J.P. Morgan Asset Management does not endorse or attest to completeness and accuracy of these contents. Reliance upon these contents is at the sole discretion of the reader.

Annual General Meeting and General / Class Meeting

Regulatory Documents

Before investing, please ensure you have read the below documents.

Reports and Accounts

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Important information

This is a marketing communication and as such the views contained herein are not to be taken as an 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 in this document 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 own at the date of this document. They are considered to be reliable at the time of writing, 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 and yield are not reliable indicators of 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. To the extent permitted by applicable law, we may record telephone calls and monitor electronic communications to comply with our legal and regulatory obligations and internal policies. Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our EMEA Privacy Policy www.jpmorgan.com/emea-privacy-policy.

Investment is subject to documentation. The Investor Disclosure Document, and Key Features / Terms & Conditions can be obtained free of charge from JPMorgan Asset Management (UK) Limited, and the Key Information Document can be obtained from JPMorgan Funds Limited or www.jpmam.co.uk/investmenttrust. This communication is issued by JPMorgan Asset Management (UK) Limited, which is authorised and regulated in the UK by the Financial Conduct Authority. Registered in England No: 01161446. Registered address: 25 Bank Street, Canary Wharf, London E14 5JP.

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

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

Morningstar Ratings™: © 2018 Morningstar. All rights reserved.

FE Crown Fund Ratings © 2018 FE. All rights reserved.

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

Money Observer Ratings: Moneywise Publishing Ltd ©2018. All rights reserved.

Moneywise Investment Trust awards as at: 28 March 2018. Moneywise Publishing Ltd ©2018. All Rights Reserved.

*Source: Thomson Reuters Extel Pan European Survey 2010-2017.