JPMorgan US Smaller Companies Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan US Smaller Companies Investment Trust plc
(GB00BJL5F346)
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About this trust

Risks

Performance

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Portfolio

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Manager Commentary

Fund Managers

In their words (as of )

The Company's share price outperformed the benchmark in November, while the net asset value underperformed. Stock selection in the consumer staples and consumer discretionary sectors weighed on relative returns. In consumer discretionary, an overweight in Instructure, a cloud-based learning management platform provider, was among the top detractors. The company missed revenue expectations for the third quarter and lowered its guidance, sparking concerns around decelerating growth in its core higher education Canvas business. In contrast, sector underweights in utilities and technology, in addition to stock selection in the healthcare sector, partially offset the underperformance. At the security level, an overweight in energy name Synergy Resources was the top performer. The independent oil and natural gas company reported solid earnings due to lower-than-expected costs and in-line production. It also guided higher on production, mainly due to earlier-than-expected production starts for its Fagerberg wells.

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AGM information

Annual General Meeting: 26 April 2017 2.30pm at 60 Victoria Embankment, London, EC4Y 0JP

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Disclaimer

Source:Morningstar (www.morningstar.co.uk)
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 Net asset value assumes that shares held in treasury (if any) have been re issued at the previous nights closing price.
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.