JPM European Smaller Companies - Neutral

INVESTMENT TRUST RESEARCH UPDATE: Trust rating moved to Neutral

Jackie Beard, FCSI 28 February, 2014 | 10:03AM
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We have downgraded the JPM European Smaller Companies (JESC) investment trust to a Morningstar Analyst Rating™ of Neutral. The fund previously held a Bronze rating. While investors who have stayed the course here were somewhat compensated in 2013 for the earlier turbulent years, and that the fund undoubtedly boasts experienced and skilled managers, we’re less convinced by the managers’ ability to compensate investors in a consistent and meaningful way through time. Although they have a flexible investment approach, seeking to outperform through different market cycles, we think this is a demanding objective for their strategy.

To see all the latest fund rating news click here.

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About Author

Jackie Beard, FCSI

Jackie Beard, FCSI  is Director of Manager Research Services, Morningstar EMEA