JPMorgan Income & Capital Trust plc - Ordinary Shares - J.P. Morgan Asset Management

About this trust



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Manager Commentary

Fund Managers

In their words (as of 30 Apr 2016)

The trust's share price outperformed the benchmark in April, while the net asset value underperformed. Not owning Anglo American, Glencore and BHP Billiton detracted from performance as the mining sector continued to rally from its mid-February low. In addition, London-focused housebuilder Berkeley Group hurt performance as fears grew that demand for high-end apartments is slowing. Conversely, not owning Tesco was beneficial as the outlook for UK food retailing - at least for the non-discount operators - looks weak. A position in Card Factory also helped as strong results and a higher-than-expected dividend led to a share price rally.


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AGM information

Annual General Meeting: 13 July 2017 12 noon, 60 Victoria Embankment, London EC4 0JP

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Benchmark Source: FTSE International Limited ("FTSE") © FTSE 2016. "FTSE ®" is a trade mark of London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited under licence. All rights in the FTSE indices and/or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE'€™s express written consent.
3 Actual gearing: Represents the excess amount above shareholders' funds of total assets less cash/cash equivalents, expressed as a percentage of shareholders funds. If the amount calculated is negative, this represents a net cash position.
4 Due to the currently low net asset value and high gearing of the share class, the NAV performance numbers are extremely volatile and therefore none are disclosed.
6 The redemption yield or the annual percentage return on the current share price (from capital & income) from now until the wind up date assuming growth in total assets and dividends are the rates shown.
7 Non-Benchmark holdings (where held) are classified in the appropriate sector/region. Cash is net current assets and holdings used as cash substitutes if applicable.