News
- Home
- Investment Company News
- Both JPMorgan European’s portfolios beat the index
Both JPMorgan European’s portfolios beat the index – JPMorgan European has reported its full results for the year ended 31st March 2018. There are two share classes – Growth (JETG) and Income (JETI).
Over the 12 month period under review, the company’s benchmark index, the MSCI Europe ex UK Index in sterling returned 3.0% (total return)
The NAV of JETG rose by 7.3% (total return) over the reporting period. The share price rose by 6.6% on the same basis. The discount widened, reflecting investors’ current preference for income. The dividend paid by JETG was in line with that received by the portfolio and was 6.85p (2017: 6.85p). This represents a yield of 2.9% (2017: 2.4%).
The NAV of JETI rose by 6.4% (total return) over the reporting period. The share price rose by 8.4% on the same basis. The discount narrowed, reflecting investors’ current preference for income. The dividend paid by JETI was 5.80p (2017: 5.00p). This represents a yield of 4.2% (2017: 3.9%).
Revenue per share on the JETI portfolio for the year was 6.65p (2017: 5.94p per share).
Both portfolios benefited from the same themes. Positive contributions came from technology and cyclical sectors.
“As we look into 2018 and further we believe that the picture remains encouraging for European equities. There is another year of growth in earnings in prospect, and to our mind valuation is still attractive, especially relative to bonds and cash, where yields remain extremely low. Furthermore, despite the growth in earnings last year, the valuation of the market actually fell slightly, so there is room for valuations to rise as the cycle matures, and we expect that our disciplined approach to investing in both the Growth and the Income share classes will continue to repay the faith of our investors.”
JETG, JETI : Both JPMorgan European’s portfolios beat the index
Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.
Due to data protection policies, USA residents can not access our data.
Your content has been curated