JPMorgan European Investment Trust plc - Income Shares

ISIN:GB00B17XWW44 Bloomberg ticker:JETI LN

JPMorgan European Investment Trust Income Shares provide a disciplined and rigorous approach to investing in Continental European companies paying sustainable dividends.

  • Share price -p
  • NAV* -p
  • Premium*-
For information on charges relating to this trust please check Trust factsheet.
Source: J.P. Morgan Asset Management. Share Price updates every
15 minutes, current update as - on - .
* All other figures shown are as at close of business on 26/08/2016 using the cum income NAV per share with debt at fair value.

About this trust

  • Investment objective

    • Aims to provide a dividend income, together with the potential for long-term capital growth from Continental European investments by outperformance of the MSCI Europe ex-UK Index. The company will predominantly invest in quoted companies with a record of paying sustainable high dividends. Currency exposure is predominantly hedged back towards the benchmark. The company has the ability to use borrowing to gear the portfolio within the range of 10% net cash to 20% geared in normal market conditions.

  • Fund facts

    • Total fund size: £158,881,228
    •  (as at 31/07/2016)
    • Benchmark: MSCI Europe ex UK
    • Investment style: Income
    • Sector: Europe
  • Risk warnings

    The value of investments and the income from them can go down and up, and you may not get back as much as you paid in. Past performance is not a guide to the future.

    For further risks associated with this trust please refer to the 'Key risks' section below.

Performance

Cumulative performance of an original investment of £100.

  • 1 yr
  • 3 yr
  • 5 yr
 
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You should remember that past performance is not a guide to the future.
Source: J.P. Morgan Asset Management. Total return, net of charges and any applicable fees using cum income Net Asset Values (NAVs) debt at par with net dividend (if any) reinvested, in sterling. For detail see the Trust’s latest Report & Accounts.

Fund Managers

  • Fund Manager - Stephen Macklow-Smith
    Stephen Macklow-Smith

    Stephen Macklow-Smith is a portfolio manager within the J.P. Morgan Asset Management European Equity Group, responsible for segregated portfolios, the European assets of UK pension funds and the JPMorgan European Investment Trust. An employee since 1997, Stephen was previously head of the European Team at HSBC Asset Management. Prior to this, he was a fund manager of European pension fund assets at Henderson Administration. Stephen obtained an M.A. in Classics and Modern Languages from Oxford University.

  • Fund Manager - Alexander Fitzalan Howard
    Alexander Fitzalan Howard

    Alexander Fitzalan Howard, managing director, is a portfolio manager within the J.P. Morgan Asset Management European Equity Group managing both institutional and retail products. An employee since 1986, Alexander was previously an investment manager with the J.P. Morgan Asset Management North American Portfolios Group, most recently running the desk. Before this, Alexander was involved in the development of the Czechoslovakia Investment Corporation Inc., and responsible for the establishment of the first Czech domestic mutual funds managed by Investicni Banka and administered by Save & Prosper. Prior to this, he assisted in the fund management of the Save & Prosper financial sector unit trusts and was responsible for analytical coverage of the financial and media sectors. Alexander obtained a B.A. (Hons) in Modern History from Oxford University.

  • Fund Manager - Michael Barakos
    Michael Barakos

    Michael Barakos is Chief Investment Officer of the J.P. Morgan Asset Management European Equity Group - Behavioural Finance Team. An employee since 1999, he is head of the team responsible for core and style strategies. Michael obtained a BSc (Hons) in Economics and Political Science from the London School of Economics and is a CFA charterholder.

Important information

Key attributes
  • Companies paying high dividends tend to consistently outperform low yielding companies. The JPMorgan European Investment Trust plc Income Shares provide investors with the opportunity to gain exposure to this persistent style anomaly.
  • The Trust's disciplined bottom-up investment process ensures that investors are given pure exposure to the best high yielding companies.
  • The Trust is a core holding designed for investors looking for exposure to an income strategy in Continental Europe.
  • The Trust benefits from the expertise of our European Equity Group, which has extensive experience and a proven track record in managing style portfolios.
Essential information

Shares and debentures (if any) in an investment trust are not subject to the Financial Conduct Authority's (FCA) restrictions for marketing Non-mainstream Pooled Investment products, therefore investment trust products can be marketed to retails investors directly or via independent financial advisers.

Charges

For information on charges relating to this trust please check the Trust factsheet.

Two investment choices with JPMorgan European Investment Trust plc

There are two shareclasses available through the JPMorgan European Investment Trust: Growth and Income.

You can convert from one to the other without incurring a liability to capital gains tax.

More about conversion timings

Growth share class

Access long-term capital growth from Continental Europe

More about the JPM European Investment Trust plc growth share class

Key risks
  • Exchange rate changes may cause the value of underlying overseas investments to go down as well as up.
  • This trust may invest in non investment grade bonds which increases the capital risk and have an adverse effect on the performance of funds which invest in them.
  • For income funds/shares - Dividend income is not guaranteed and will fluctuate.
  • Investing in high yielding stocks may involve higher degree of risk as high yields are not guaranteed and will fluctuate.
  • This fund may use derivatives for investment purposes or for efficient portfolio management.
  • External factors may cause an entire asset class to decline in value. Prices and values of all shares or all bonds could decline at the same time.
  • This trust may utlilise gearing (borrowing) which will exaggerate market movements both up and down.
  • This trust may also invest in smaller companies which may increase its risk profile.
Awards

Moneywise IT Award Rated Logo

Annual and half year reports
Annual general meeting

Date: 19th July 2016
Time: 2:30 pm
Location: 60 Victoria Embankment, London EC4 OJP.

AGM Presentation 2016

Proxy Voting as at:

19 July 2016 – AGM poll results

21 July 2015 – AGM poll results

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