JPMorgan Indian Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
CLOSE
JPMorgan Indian Investment Trust plc
(GB0003450359)

JPMORGAN INDIAN INVESTMENT TRUST PLC

A vibrant addition to any portfolio

As the largest investment trust to focus purely on Indian companies, JPMorgan Indian Investment Trust plc provides expertly managed exposure to the long-term growth potential of the Indian market.

*

 

Monthly Factsheet   Other trust documents   How to buy this trust  

Why invest in Emerging Markets?

Emily Whiting, Client Portfolio Manager, discusses the opportunities and challenges of investing in Emerging Markets.

Some of the themes discussed include:

  • How the rise of technology, frontier markets and consumerism is changing the emerging markets
  • Finding the right emerging market opportunities
  • What happens when an emerging market emerges
Monthly Factsheet   Annual Report    Learn more about investing in Emerging Markets   

About this trust

Risks

Performance

Performance widget loading ...

Fees

Fees widget loading ...

Portfolio

Portfolio widget loading ...

Manager Commentary

Fund Managers

Month in review

  • The fund performed disappointingly over the month.
  • After a period of relatively robust performance, the Indian market corrected sharply in September, slipping from being one of the better-performing Asian markets in the year-to-date to being in the middle of the pack.
  • The rupee weakened further on the back of more general emerging market concerns about countries with twin deficits, and as the oil price rose.
  • In August, financials had benefited from signs of asset quality stability. In September this reversed sharply on three negative events. Yes Bank’s CEO’s term was unexpectedly cut short by the Reserve Bank of India, citing a weak governance and compliance culture at the bank. IL&FS, an unlisted non-bank financial company, defaulted on some of its obligations, and the government announced a merger of three public sector banks, but without news of associated synergies.
  • Fund performance was hurt by the negative impact of not holding energy names, in particular Reliance. The stock was defensive and the substantial underweight was the fund’s single largest detractor over the month. It was also painful to be underweight in information technology stocks, which benefited from the weaker rupee. The zero position in Infosys was the second most significant detractor.
  • Conversely, although not immune from events in the banking system, the fund’s emphasis on holdings in private sector banks served it well. Lower quality financials corrected very sharply; the fund benefited from not holding them.
  • Looking ahead

  • For some time now, we have expressed our optimism for a recovery in the Indian economy, whilst acknowledging the bumpy trajectory of that recovery. Recent meetings in Mumbai and Delhi have underscored our confidence that corporate sales growth is recovering generally, with some return of pricing power. Strong rural demand in particular is a recurring theme.
  • To some extent, growth has been flattered by a low base, and there is some pre-election activity. However, we believe that India’s reform programme is positive despite near-term headwinds.
  • Documents

    How to buy this trust

    Learn More

    Find out more

    For contact details and more information on our trust range use the following links:

    Contact us   View our other investment trusts   Our investment trust awards  

    Investor Insights

    Receive monthly articles, research and views from J.P. Morgan Asset Management.

    Sign up by emailRead related articles   

    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.

    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.

    © 2017 citywire.co.uk. All Rights Reserved.

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

    *Source: Association of Investment Companies, April 2018

    Past performance is not a reliable indicator of current and future results.