JPMorgan US Smaller Companies Investment Trust plc - Ordinary Shares - J.P. Morgan Asset Management
JPMorgan US Smaller Companies Investment Trust plc

About this trust



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Manager Commentary

Fund Managers

Board of Directors

  • Davina Walter

  • Mark Ansell

  • Christopher Galleymore

  • Julia Le Blan

  • David Ross

  • Dr Shefaly Yogendra

In their words (as of )

The Company's share price and net asset value outperformed the benchmark in December. Stock selection in the healthcare and producer durables sectors contributed positively to relative returns. In healthcare, an overweight in Catalent, a drug delivery solutions provider, rallied throughout the month. The stock benefited from news of Lonza acquiring Capsugel, a peer of Catalent, which sparked speculation among investors over large-scale consolidation in the space. In contrast, a sector underweight in financial services, in addition to weak stock selection in the consumer discretionary and technology sectors, put pressure on relative performance. Consumer discretionary name Brinker International, which owns various restaurant franchises, and our exposure to Guidewire Software, a technology firm that provides software products for property and casualty insurers, were among the biggest laggards.


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


AGM information

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



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.
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.