Edison issues review on Jupiter Green Inv Trust

RNS Number : 8701M

Jupiter Green Investment Trust Plc

02 May 2018

 

London, UK, 2 May 2018

Edison issues review on Jupiter Green Investment Trust (JGC)

Jupiter Green Investment Trust (JGC) focuses on companies that are providing innovative solutions to environmental challenges, and as such is benefiting from the high level of public interest in issues such as reducing waste from single-use plastics. Fund manager Charlie Thomas reports, for instance, that plastic recycling specialist Tomra Systems - JGC's second-largest holding - has seen its share price rise over 45% in the past year as it wins new contracts around the world. JGC's portfolio is diversified by geography and industry, and includes companies grouped under three broad themes of resource efficiency, infrastructure and demographics. The managers note that the environmental challenges - and hence the solutions to them - are increasingly complex and interlinked, which arguably plays to the strengths of a team that has been specialising in 'green' investment since the launch of the Jupiter Ecology Fund in 1988.

At 30 April 2018, JGC's shares traded at a 4.0% discount to cum-income NAV. This is narrower than the averages for the last one, three and five years, and well below the 10-year average of 8.3%. The board uses share buybacks to ensure that the share price and NAV do not diverge materially; however, few shares have been bought back in the past 12 months, and the managers report a high level of interest in their strategies (both open- and closed-end). JGC currently yields 0.7%.

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