Edison issues review on JPMorgan Global Growth
London, UK, 7 April 2021
Edison issues review on JPMorgan Global Growth & Income (JGGI)
JPMorgan Global Growth & Income (JGGI) seeks to provide superior total returns and outperform its benchmark, the MSCI AC World Index, over the long term by investing in international equities. JGGI's managers, Helge Skibeli, Raj Tanna and Tim Woodhouse believe the market is under-estimating the extent of pent-up consumer demand generated by a year in lockdown. In their view, this has created many 'exceptional opportunities' among economically-sensitive stocks that will benefit from the ensuing economic rebound. The managers have therefore taken some profits on the pandemic's structural winners and are using the proceeds to 'lean into' attractively priced value and cyclical stocks. These decisions are already starting to pay off. The trust has made solid positive returns and outperformed its benchmark and peers over both the short term and longer periods.
JGGI's share price has traded at a small premium to cum-income NAV for several years, supported by its new distribution policy and by strong and improving performance. The trust currently offers a yield of 3.2% (based on the current share price and prospective dividend payments for FY21).
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