Edison review on JPMorgan Global Growth & I...

RNS Number : 0920E

JPMorgan Global Growth & Income PLC

06 February 2018

 

London, UK, 6 February 2018

Edison issues review on JPMorgan Global Growth & Income (JPGI)

JPMorgan Global Growth & Income (JPGI) has enjoyed a strong period of share price performance since adopting a higher distribution policy in mid-2016. NAV returns have also kept pace with the benchmark MSCI AC World index, in spite of the trust's focus on long-term valuations in an environment where market returns have been driven more by 'growth at any price'. JPGI is the only UK retail investment product offering access to J.P. Morgan Asset Management's (JPMAM's) global focus investment process, which uses a large team of expert sector analysts to identify undervalued stocks with significant profit potential. Manager Jeroen Huysinga remains positive on the global economic outlook for at least the next 12-18 months, and has been finding particular opportunities in industrial cyclicals and financials, while being significantly underweight in technology stocks.

At 2 February 2018, JPGI's shares traded at a 2.2% premium to cum-income NAV. This was a little below the three-year high of 3.0% seen at the end of December 2017, reflecting a sustained re-rating since the announcement of the new distribution policy in July 2016, which supports the current yield of 3.2%. The shares have broadly traded at a premium to NAV since early August 2017, and since September an additional 2.6m shares have been issued to meet demand.  

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