JPMorgan Income & Capital Trust plc

ISIN:GB00B2NBJ068 Bloomberg ticker:JPI LN

JPMorgan Income & Capital Trust plc invests predominantly in high yielding UK equities and investment grade corporate bonds, with the aim of producing a growing income with long-term capital growth for ordinary shareholders, and a strong redemption yield for zero dividend preference shareholders.

  • 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 24/05/2016

About this trust

  • Investment objective

    • The Company seeks to meet the final capital entitlement of the Zero Dividend Preference shareholders and to provide Ordinary shareholders with a regular quarterly income and capital growth by investing principally in UK equities and investment grade fixed interest securities. The Company may utilise gearing when appropriate to increase potential returns to shareholders.

  • Fund facts

    • Total fund size: £137,011,036
    •  (as at 30/04/2016)
    • Benchmark: 90% FTSE350 Index (ex investment trusts) and 10% Barclays Global Aggregate Corporate Bond Index in sterling terms
    • Investment style: Income & Growth
    • Sector: Split Capital
  • 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

  • John Baker

    John Baker is a portfolio manager within the J.P. Morgan Asset Management European Equity Group. A long-standing employee, John joined the company in 1994 as an assistant on the UK Retail Funds desk, now integrated into the European Equity Group. John obtained a BA from University College Cork, Ireland. He is an Associate of the Institute of Investment Management & Research.

  • Sarah Emly

    Sarah Emly is a portfolio manager within the J.P. Morgan Asset Management European Equity Group. She specialises in managing UK institutional portfolios. An employee since 1995, Sarah was previously an analyst in the UK and Pan-European team before joining the portfolio management team in 1999. She holds a B.Sc. (Hons) in International Management and Modern Languages (French) from the University of Bath, and the Securities Institute Diploma, and is a Fellow of the Securities Institute. Sarah is a CFA charter holder.

Important information

Key attributes
  • Tactical movements between equities and bonds to achieve potential strong performance throughout the market cycle.
  • Carefully managed to achieve a higher yield for ordinary shareholders and strong redemption yield for zero-dividend shareholders.
  • Benefits from JPMorgan's expertise in responsible split-capital management.
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.

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.
  • Where permitted, a trust may invest in other investment trusts that utilise gearing (borrowing) which will exaggerate market movements both up and down.
  • For income funds/shares - Dividend income is not guaranteed and will fluctuate.
  • Investing in high yielding stocks may involve higher degre of risk as high yields are not guaranteed and will fluctuate.
  • 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.
Annual and half year reports
Annual general meeting

Date: 7th July 2016
Time: 12 noon
Location: 60 Victoria Embankment, London EC4 OJP.

AGM Presentation 2015

Proxy Voting as at:

02 July 2015

03 July 2014

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