Overview
JPMorgan American’s objective is to provide shareholders with capital growth from North American investments. In order to achieve its investment objectives and to seek to manage risk, the company mainly invests in a diversified portfolio of quoted companies including, when appropriate, exposure to smaller capitalisation stocks. JPMorgan American currently has separate portfolios dedicated to larger capitalisation and smaller capitalisation exposure. The number of investments in the larger capitalisation portfolio will normally range between 60-100 stocks representing between 80-100% of the equity portfolio. The number of investments in the smaller capitalisation portfolio will normally range between 100-120 stocks representing between 0-20% of the equity portfolio. JPMorgan American may invest in pooled funds to achieve these aims.
you can access the company’s website here
Fundamentals
Price
Research History
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26 Apr 2024 11 min read
QuotedData’s Investment Companies Quarterly Review – First quarter of 2024
First quarter of 2024 Investment Companies | Quarterly roundup | April 2023 Kindly sponsored by abrdn Equity rally belies difficult quarter for sector 2024 started on strong footing, with global equities (as measured by the MSCI All Countries World Index) rallying 9.2% over the first three months (in sterling terms). However, while there some standouts […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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06 Apr 2023 82 min read
QuotedData’s Economic and Political Monthly Roundup April 2023
Economic and Political Monthly Roundup Investment companies | Monthly | April 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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05 Jan 2023 9 min read
QuotedData’s Investment Companies Roundup – January 2023
December 2022 Monthly roundup | Investment companies Winners and losers in December 2022 The Financials sector only has two constituents, one of these – Trian Investors 1 – has seen its discount narrow since it promised to return cash to investors by next June, and it has also benefited from underlying NAV appreciation. Last month’s […]
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07 May 2020 4 min read
QuotedData’s Economic Roundup – May 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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11 Sep 2019 3 min read
QuotedData’s economic roundup – September 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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13 Nov 2018 1 min read
QuotedData’s investment companies roundup – November 2018
QuotedData’s investment companies roundup – November 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2018. Kindly sponsored by Baillie Gifford. Winners and losers in October In what was generally a miserable month for equity markets, Brazil shone […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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14 Sep 2018 2 min read
QuotedData’s Economic round up – September 2018
QuotedData’s Economic round up – September 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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14 Sep 2017 2 min read
QuotedData’s economic round up – September 2017
QuotedData’s economic round up – September 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to […]
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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14 Jun 2017 1 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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1 min read
QuotedData’s round up of views on the global economy – April 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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22 Nov 2024 3 min read
MAGA or TINA, the only way is up?
The problem with Trump’s use of the phrase “MAGA” – Make America Great Again – is that it implies America wasn’t already great. With its booming equity markets, robust economic growth, and strong fundamentals – such as energy independence, deep pools of domestic capital, and the inherent advantages of the US dollar’s reserve currency status […]
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15 Nov 2024 3 min read
Are the lunatics now in charge of the asylum?
QD view – as Trump’s nominees for his cabinet court controversy, we have a look at some possible implications. On Thursday, we published a note on Polar Capital Global Healthcare – Vital signs are good. In it, we highlighted the managers’ belief that the sector is well-positioned to underpin the sector’s growth story for the […]
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07 Aug 2024 1 min read
QuotedData’s morning briefing 7 August 2024 – APAX, CORD, JAM, CLI
In QuotedData’s morning briefing 7 August 2024: Apax Global Alpha Limited (APAX), announced that it expects to invest approximately €2.5m in greytHR on a look-through basis, a leading full suite human resource management software platform in India. The transaction is due to close in Q3 2024, subject to customary closing conditions. Cordiant Digital Infrastructure Limited […]
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05 Apr 2024 1 min read
QuotedData’s weekly news show 5th April 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • JPMorgan American (0:48) • Downing Strategic Micro Cap (6:55) • Fidelity Emerging (11:18) Andrew highlighted the opportunity in commodity trusts and in renewables (14:03) This week’s […]
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27 Mar 2024 2 min read
Strong returns for JPMorgan American
JPMorgan American (JAM) announced its annual results for the period end 31 December 2024. The company generated a NAV total return of 24.7% in 2023 compared with 18.9% for its benchmark Index. Its share price total return was +26.6%. Since the change in investment approach on 1st June 2019 to the end of February 2024, […]
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13 Oct 2023 4 min read
QD view – Are cracks appearing in US markets?
US stock markets have continued to power ahead in 2023. If the environment has been fragile, they have been seen as a source of stability; if investors have been more optimistic, they have seen US companies as a source of growth. They have outpaced their peers even as inflation has rebounded, interest rates have leapt […]
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31 Mar 2023 8 min read
JPMorgan American’s small cap allocation weighs on performance
JPMorgan American (JAM) has released its annual results for the year ended 31 December 2022. During 2022, financial markets have been heavily impacted by rising inflation and central banks’ interest rate hikes in response to this. Principal among these are the seven interest rate hikes in 2022 by the US Federal Reserve – taking the […]
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24 Aug 2022 2 min read
JPMorgan American’s Parton announces retirement while trust reports tough start to 2022
JPMorgan American’s Parton announces retirement while trust reports tough start to 2022 – JPMorgan American (JAM) has published its half-year report for the six months to 30th June, during which time it delivered an NAV return of -8.4% and a share price return of -11.2%, reflecting a small widening of the company’s discount to NAV. […]
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24 Aug 2021 2 min read
QuotedData’s morning briefing 24 August 2021
In QuotedData’s morning briefing 24 August 2021: Invesco Bond Income Plus has published its first set of accounts since it was created from the merger of City Merchants High Yield and Invesco Enhanced Income. Over the first half of 2021, it returned 4.3% in NAV terms and 3.3% in share price terms. The half-year dividend was […]
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01 Apr 2021 2 min read
QD view – Go West!
I moaned for ages that there weren’t enough trusts dedicated to North America, given the importance of that market within the global economy. Happily, there is more of a choice now and it is a real choice – between managers with quite different approaches and remits. However, in terms of assets, the sector is still […]
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1 min read
QuotedData’s afternoon briefing 1 April 2021
In QuotedData’s afternoon briefing 1 April 2021, as a raft of investment companies seem to be getting announcements out of the way ahead of the Easter break, we bring you a one-off afternoon briefing: Baillie Gifford US Growth Trust has published a prospectus in relation to a placing programme of up to 250m new ordinary shares. The placing programme allows […]
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23 Oct 2020 2 min read
QD view – US election, why worry?
Election day is edging closer in the US and the rhetoric is ramping up. We managed to catch up with Dean Orrico, the manager of Middlefield Canadian Income Fund (the subject of last week’s article) in the weekly interview and he reiterated his observation that Biden is likely to win the Presidential election. The more […]
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13 Aug 2020 1 min read
QuotedData’s morning briefing 13 August 2020
In QuotedData’s morning briefing 13 August 2020: Riverstone Credit Opportunities Income (RCOI) has announced its interim results for the six months ended 30 June 2020. During the period, its NAV per share has fallen by 1.0% to US$1.004 (31 December 2019: US$1.014), although the company made a profit of US$2.46 million. RCOI has announced the […]
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23 Mar 2020 2 min read
QuotedData’s other news 23 March 2020
In QuotedData’s other news 23 March 2020 – On 21 March 2020, the Financial Conduct Authority (FCA) requested that, in light of the unprecedented practical challenges for some companies and the audit profession arising from the Covid-19 pandemic, all listed companies who publish their preliminary results around this time, observe a moratorium on the publication of […]
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28 Feb 2020 1 min read
JPMorgan American shakes up gearing
JPMorgan American shakes up gearing – JPMorgan American Investment Trust has received funds from the sale of $65 million fixed-rate 11 year unsecured notes, which will pay a fixed annualised coupon of 2.55%. The notes mature on 27 February 2031 and pay interest semi-annually. In terms of seniority, they rank alongside the company’s existing revolving credit […]
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14 Aug 2019 2 min read
QuotedData’s other news 14 August 2019
It has been a busy morning of half-year results announcements. In QuotedData’s other news 14 August 2019: Apax Global Alpha (APAX) reported interim results to 30 June 2019; total NAV retur was +13.4% (+12.9% in constant currency terms). Last 12 months total NAV return was +14.4% (+12.2% constant currency) reflecting primarily strong performance of the private equity portfolio. Aberdeen Asian Income […]
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3 min read
JPMorgan American reports first results since new managers and strategy change
JPMorgan American reports first results since new managers and strategy change – JPMorgan American has reported half-year results this morning; in the six months to 30th June 2019, the total NAV return in sterling terms was 15.3%. The discount narrowed slightly over the period as the shares slightly outperformed NAV. The total share price return was […]
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21 Mar 2019 2 min read
JPMorgan American Investment to change strategy
JPMorgan American Investment to change strategy – The Board of JPMorgan American Investment Trust (JAM) has announced its intention to change the large-cap component of the company by moving to a higher-conviction investment approach. The board has undertaken a review of the options available from the range of strategies offered by JPMorgan Asset Management, JAM’s […]
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22 Oct 2018 1 min read
JPMorgan American cuts gearing
JPMorgan American cuts gearing – JPMorgan American‘s gearing policy is to operate within a range of 5% net cash to 20% geared in normal market conditions, with a strategic (i.e. long-term target) level of gearing being set at 10% plus or minus 2% (i.e. a range of 8% to 12%). On 8 June 2018, the fund […]
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22 Mar 2018 2 min read
JPMorgan American bailed out by small caps
JPMorgan American bailed out by small caps – The year to 31st December 2017 was another positive one for investors in US equities, as the S&P 500 Index on a total return basis rose a further 21.5% for US investors, or 11.0% for UK investors once the effect of sterling’s appreciation against the US dollar […]
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26 Feb 2018 1 min read
Investment Trust Insider on US trusts
James Carthew: where is a US growth trust when you want it? One of the strangest things about investment companies is how under-represented the US stock market is within the sector. Dedicated listed North American funds accounted for just 1.6% of the money in investment trusts and investment companies at the end of last year, […]
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18 Dec 2017 1 min read
Investment Trust Insider on Biotech
Investment Trust Insider on Biotech – inspired by the launch of our biotech news service on QuotedData, I wrote something for Citywire that looks at some of the exciting stories that have been published just in the last couple of weeks. James Carthew: biotech boom boosts generalist trusts This week I am returning to the […]
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06 Dec 2017 1 min read
Sequoia secures new revolving credit facility
Sequoia secures new revolving credit facility – The board of Sequoia Economic Infrastructure Income Fund Limited has announced that it has secured a multi-currency Revolving Credit Facility (“RCF”) of GBP100 million from The Royal Bank of Scotland International Limited (Mandated Lead Arranger), ING Bank and Investec (Arrangers). The tenor of the RCF will be three […]
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26 Jun 2017 2 min read
JPMorgan American slashes fees
JPMorgan American slashes fees. The Board of JPMorgan American Investment Trust has announced that, following a review, the investment management fee arrangements with JPMorgan Funds Limited will change. With effect from 1st October 2017, the annual investment management fee, currently 50bps of total assets less current liabilities, with no tiering, will be charged at an annual […]
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27 Mar 2017 4 min read
JPMorgan American board and manager revamp investment process
In 2016, JPMorgan American’s board visited the Manager’s offices in New York where it held meetings with the Investment Management team to include both Garrett Fish and the manager of the small companies portfolio, Eytan Shapiro. The Board further met with senior management, the behavioural finance team of which Garrett is a member, the corporate engagement and the […]
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15 Aug 2016 3 min read
Markets unhelpful for JPMorgan American
Over the first half of 2016 JPMorgan American underperformed its benchmark, returning 10.4% against 14.3% for the US equity market. Moreover, almost all of that return came from a fall in sterling relative to the US dollar. The interim dividend has been increased to 2.25p. The Board says “Garrett’s portfolio is made up of companies […]
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24 Mar 2016 3 min read
JPMorgan American suffers from lack of FANG exposure
JPMorgan American has published results for the year ended 31 December 2015. In 2015, the US equity market, as measured by the S&P 500 total return Index in sterling terms, provided a return of 6.9%. In local currency terms, the market was more or less flat, and the gain to investors arose largely from the […]
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01 Oct 2015 1 min read
Henderson Global matches benchmark in first half
Henderson Global Trust has published its interim results covering the six months ended 31 July 2015. Over this period the net asset value total return of 1.6% matched that of its benchmark, MSCI All Country World Index (in sterling terms, total return), but a small widening of the discount left the fund with a return […]
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07 Aug 2015 2 min read
JPMorgan American edges ahead of S&P500
JPMorgan American just edged ahead of its benchmark in H1 2015 in what turned out to be a flat period for the US market – JPMorgan American’s net asset value return was 0.5% as compared to a 0.2% return on the S&P500 Index. The manager says that the portfolio benefitted from strong stock selection in the health […]
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01 Apr 2015 1 min read
JPMorgan American helped by technology weighting
JPMorgan American’s results for 2014 show the fund just beat its benchmark, the US market, as measured by the S&P 500 total return Index in sterling terms, provided a return of 20.4%. By contrast the net asset value total return was 20.8%. The share price return was 22.6%. They are paying a dividend of 3.25p for […]
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07 Aug 2014 1 min read
JPMorgan American technology overweight pays off
JAM : JPMorgan American technology overweight pays off JPMorgan American, managed by Garrett Fish (pictured), has published its interims for the period to end June 2014. It outperformed its benchmark over this period, delivering a net asset value total return of 4.1% vs. a 3.6% return on the S&P500 Index. The return to shareholders was 4.2%. […]
Upcoming Events
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In The Press
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08 Mar 2024 1 min read
The most expensive trusts relative to their history
By Matteo Anelli, Senior reporter, Trustnet, 07 March 2024: Premiums are rare in the investment trusts industry, which suffers from chronic discounts, but there are still some trusts that have caught investors’ eyes and garnered traction over the past five years, according to data from QuotedData. Earlier this morning, we looked at the trusts that […]
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13 Feb 2024 1 min read
Investment trust insider on North American funds
James Carthew: JAM or Pershing? Which is best to capture US growth? JPMorgan American was its sector’s best performer in 2023 with strong numbers following a revamp five years ago. However, Pershing Square’s record can’t be dismissed either. Within the North America sector, last year’s winner was JPMorgan American (JAM), which generated an underlying investment […]
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23 Dec 2021 1 min read
The Investment Trusts Handbook 2022: All Change, Please
JAMES CARTHEW explores when and why boards choose to change their fund manager. In my opinion, one of the greatest strengths of the investment companies industry is its system of governance. Boards of independent directors work for and on behalf of investors. Boards’ ability to fire underperforming managers helps to keep these managers on their […]
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15 Aug 2021 1 min read
Battle of US growth tech
Baillie Gifford US Growth versus JPMorgan American By Eve Maddock-Jones, Reporter, Trustnet, 12 August 2021 IT North American trusts Baillie Gifford US Growth and JPMorgan American have both benefited from the dominance of US large-cap, technology stocks, yet their difference in popularity among investors is stark. The 5.3% discount on JPMorgan American contrasts with the Baillie Gifford fund, which is […]
