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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.

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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

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Fees

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Portfolio

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Manager Commentary

Fund Managers

Month in review

  • The fund underperformed the benchmark over October.
  • October was a weak month for stock markets globally as investors fretted over rising yields and over the impact on growth of trade tensions. While the Indian market fell over the period, it nevertheless fared better than some other major Asian markets.
  • The rupee weakened early in the month, before recovering somewhat.
  • Forex reserves dropped by the most since 2011, reflecting intervention by the Reserve Bank of India (RBI) in foreign exchange markets. The RBI stepped up liquidity infusions via open market operations (OMO) purchases.
  • Sector allocation was positive as banks and industrials outperformed, while information technology and energy underperformed.
  • Not owning Reliance was the key stock level contributor for the month. A move by the government to reduce retail fuel prices, with negative implications for refining margins, caused a sharp correction for the name and indeed for the broader sector. However, the positive impact on the portfolio was offset to some extent by problems at IndusInd Bank. The name was hit due to its exposure to IL&FS, compounded by poor communication around the issue. On balance, we are now satisfied with action taken by management to address this.
  • Looking ahead

  • We are entering another national election cycle. It would not be prudent to make any political predictions, but volatility is to be expected. India is anything but late-cycle. It is underpinned by the structural changes enacted by the Modi government, which we feel show increasing evidence of being beneficial in the longer run; by astonishing progress made in financial inclusion; and by robust rural demand.
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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.

    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.