JPMorgan Global Growth & Income plc - Ordinary Shares - J.P. Morgan Asset Management
JPMorgan Global Growth & Income plc

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Manager Commentary

Fund Managers

In their words (as of 31 Oct 2016)

The Company's net asset value performed in line with the benchmark in October, while the share price outperformed. Stock selection was the major performance driver. Stock selection in the property, healthcare and banks sectors contributed the most to performance. Mitsui Fudosan (Japanese property) was the best-performing stock. Global pharmaceutical company Bayer also performed well as it announced a solid third quarter and raised its 2016 guidance. After a positive impact last month, the consumer non durable sector was the biggest detractor. Anheuser-Busch InBev, the brewing company, was the biggest detractor. The stock announced its third-quarter results and revised down previous ahead-of-inflation growth forecasts. The insurance and energy sectors also detracted, with holdings in Prudential (the multi-national insurance company) and InterOil (the oil and gas business) negative for performance. The UK and emerging markets were negative, with other regions positive to flat. We made no significant changes to the overall shape of the portfolio, which remains pro-cyclically positioned with a bias towards higher beta (more volatile) stocks.


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AGM information

Annual General Meeting: 25 October 2017 2.30pm, location TBC

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Benchmark Source: MSCI. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express of implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.
Source:Morningstar (
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.
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.