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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 performed strongly versus the benchmark.
  • After a difficult month in October, the Indian market bounced sharply in November. A sharp decline in the oil price was supportive and the Indian rupee strengthened.
  • Key contributors included private sector financials HDFC Bank, IndusInd Bank and Kotak Mahindra Bank; consumer discretionary names Maruti Suzuki and Jubilant Foodworks; and being underweight in IT name Infosys.
  • At the sector level, the fund benefited from being underweight in healthcare and IT names, which traded down as the rupee strengthened.
  • The key detractor was Reliance. Its telecoms business JIO continued its highly disruptive growth spurt, adding an astonishing number of new subscribers per month: over 10 million.
  • The results season for the September quarter was disappointing in aggregate. Strong sales growth did not translate into equivalent growth in earnings. This was reaffirmed by a somewhat soft third-quarter GDP number of 7.1%, down from 8.2% year-on-year in the previous quarter – although the prior number had been flattered by a low base due to the impact of the introduction of the Goods & Services Tax.
  • The headline Consumer Price Index for October rose less than expected, with food prices remaining subdued. However, core measures rose, led by services-related components.
  • Looking ahead

  • The recent GDP data and more moderate inflation suggest that the Reserve Bank of India (RBI) will remain on pause for the immediate future. Noise from the election cycle will continue to increase, with results from certain key states due in December. This will culminate in national elections in the first half of next year. The likelihood of the BJP repeating 2014’s success and securing an absolute majority appears low as of now; a coalition is the outcome that most observers feel has the highest probability.
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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.