JPMorgan China Growth & Income Outperforms Benchmark In First Half

(Alliance News) - JPMorgan China Growth & Income PLC on Friday said that its "robust" strategy of ...

Alliance News 22 May, 2020 | 6:16PM
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(Alliance News) - JPMorgan China Growth & Income PLC on Friday said that its "robust" strategy of focusing on higher-quality businesses led to an outperformance against benchmark in the first half of financial 2020.

The investment trust said its total return on net assets in the six months to March 31 was 8.2% versus a 2.4% return by benchmark, the MSCI China index. The total return to shareholders for the period was 14.5%.

Net asset value at March 31, fell marginally year-on-year to 374.2 pence per share from 324.6p.

JPMorgan China said: "This half-year has demonstrated the volatility that is an inherent risk when investing in China, in large part driven by the continuing trade frictions between China and the U.S., overlaid with the Covid-19 pandemic.

"Our investment managers, supported by a well-resourced research team, continue to be able to find interesting companies to invest in that are consistent with the structural growth bias of the investment strategy. We remain confident that our investment strategy, combined with the depth of resources in our investment team, will enable us to deliver superior long-term capital growth".

Shares in the trust closed 5.9% lower at 395.00 pence each in London on Friday.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
JPMorgan China Growth & Income plc 528.00 GBX 0.38

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