Overview
JPMorgan India Growth and Income (formerly JPMorgan Indian : JII) aims to provide capital growth from investments in India and tries to outperform the MSCI India Index (expressed in sterling terms). The company will invest in a diversified portfolio of quoted Indian companies and companies that earn a material part of their revenues from India. The company will not invest in other countries of the Indian sub continent including Sri Lanka. The company has the ability to use borrowing to gear the portfolio to up to 15% of net assets where appropriate.
In June 2025, the company said “the board proposes to pay dividends each financial year totalling at least 4% of the NAV of the company at the end of the preceding financial year. Dividends will be paid by way of four equal interim dividends in December, March, June and September each year.” This prompted the name change.
you can access the company’s website here
Fundamentals
Price
Research History
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13 Oct 2023 10 min read
QuotedData’s Investment Companies Roundup – October 2023
October 2023 Monthly roundup | Investment companies Kindly sponsored by abrdn Winners and losers in September 2023 September was defined by the ongoing US bond selloff, with global markets trending down in sympathy. Investment trust returns were negative on average for the month, although several sectors still achieved positive returns. The Royalties sector was the […]
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05 Jan 2023 90 min read
QuotedData’s Economic and Political Monthly Roundup January 2023
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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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08 Jun 2020 7 min read
QuotedData’s Investment Companies Roundup – June 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over May: GCP Infrastructure – […]
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10 Jan 2020 8 min read
QuotedData’s economic roundup – January 2020
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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05 Jul 2019 6 min read
QuotedData’s economic roundup – July 2019
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07 Jun 2019 3 min read
QuotedData’s investment companies roundup – June 2019
Investment Companies Roundup New research Over May, we published notes on Shires Income, Standard Life Private Equity and The North American Income Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was notable that risk appetite was down in May as renewed […]
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04 Apr 2019 1 min read
QuotedData’s investment companies roundup – April 2019
QuotedData’s investment companies roundup – April 2019 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 March 2019. Kindly sponsored by Baillie Gifford. JPMorgan Indian, India Capital Growth, Aberdeen New India and Ashoka India Equity Investment […]
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22 Feb 2019 1 min read
QuotedData’s investment companies roundup – February 2019
QuotedData’s investment companies roundup – February 2019 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 January 2019. Kindly sponsored by Baillie Gifford. December’s sharp sell-off in technology and growth stocks reversed somewhat in January. This was […]
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19 Dec 2018 1 min read
QuotedData’s investment companies roundup – December 2018
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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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12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 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 September Trian Investors 1 is a new fund that will adopt […]
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11 Jul 2018 1 min read
QuotedData’s Economic round up – July 2018
QuotedData’s Economic round up – July 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 […]
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11 Jun 2018 2 min read
QuotedData’s Economic round up – June 2018
QuotedData’s Economic round up – June 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 […]
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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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13 Mar 2018 1 min read
QuotedData’s investment companies roundup – March 2018
QuotedData investment companies roundup – March 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 February 2018. Kindly sponsored by Baillie Gifford. Equity markets continued to run up in early February, supported by strong corporate earnings […]
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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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10 Jan 2018 1 min read
QuotedData’s economic round up – January 2018
QuotedData’s economic round up – January 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 […]
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07 Dec 2016 1 min read
QuotedData investment companies roundup – December 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 November 2016. december-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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02 Oct 2025 3 min read
Morning briefing: Pacific Assets offers 25% exit in 2028 if performance doesn’t improve; plus JGGI, JII, RKW, ADIG, PPET, SSIT
Board of Pacific Assets Trust insists its fund managers must make up for underperformance of the past four years to avoid a 25% tender offer in 2028, plus annual results and updates from JPMorgan Global Growth & Income, Abrdn Diversified Income & Growth, Patria Private Equity, Seraphim Space and a name change at JPMorgan Indian. […]
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12 Aug 2025 3 min read
Scottish Mortgage has bought back over £2.5bn of its shares but the global gaint still trails close to a 10% discount
Our monthly review of investment companies returning capital and raising new money shows the £12bn Baillie Gifford flagship has greatly exceeded its £2bn minimum buyback target as its shares continue to lag the underlying growth in its global portfolio. Scottish Mortgage (SMT) has bought back more than £2.5bn of its shares since activist hedge fund […]
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08 Aug 2025 3 min read
The trust world in 2025: Who’s winning, who’s shrinking
A year so far in the trust world August is upon us, and with it, we have now passed President Trump’s tariffs deadline. While it seems that we have found ourselves in a middle ground – with most major economies having negotiated some form of deal with him – the US has still implemented an […]
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22 Jul 2025 2 min read
QuotedData’s morning briefing 22 July: ICGT, ESCT, IBT, MMIT, VNH, MIGO, JII, SDP, SEC, JPEL & RGL
ICG Enterprise nets £22m from the sale of VR software provider Datasite and European Smaller Companies, International Biotechnology, Mobius and Vietnam Holding all report good gains for June. ICG Enterprise Trust (ICGT) has sold its co-investment in Datasite, a software provider focused on virtual data rooms that at 31 January was its fourth largest company exposure […]
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09 Jul 2025 1 min read
QuotedData’s morning briefing 9 July: BLND, LMP, JII & JARA
This morning sees positive updates from two real estate investment trusts: British Land and LondonMetric.
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08 Jul 2025 2 min read
Top-performing India Capital Growth sets terms of investors’ next exit opportunity
India Capital Growth, the best performer in its sector over three and five years, is giving shareholders the chance to sell their shares on a narrow discount. India Capital Growth (IGC) has announced that at its third two-yearly redemption point on 28 November shareholders will be able to sell all their shares at 3% below […]
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06 Jun 2025 3 min read
QuotedData’s morning briefing 6 June 2025 – ADIG, BEMO, DORE, HSL, JII
In QuotedData’s morning briefing 6 June 2025, we have interim results from both abrdn Diversified Income and Growth and Barings Emerging EMEA Opportunities; a change in director responsibilities for Downing Renewables & Infrastructure; and circulars from Henderson Smaller Companies and JPMorgan Indian. We also have: Stories you may have missed from yesterday:
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19 May 2025 2 min read
JPMorgan Indian announces package of changes following strategic review
JPMorgan Indian Investment Trust (JII) has announced a package of proposals aimed at tackling persistent underperformance and a stubborn share price discount, following the conclusion of its strategic review and shareholder consultation. JII’s board says it remains committed to the existing quality-growth investment strategy, led by managers Amit Mehta and Sandip Patodia, and has ruled […]
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07 May 2025 2 min read
UK-India free trade agreement 2025: What it means for markets and stocks
Most significant post Brexit trade pact The UK-India Free Trade Agreement (FTA), finalised in 2025 after years of negotiation, marks the most significant post-Brexit trade pact for the United Kingdom. It not only strengthens economic ties with one of the world’s fastest-growing economies but is also poised to influence key sectors across both UK and […]
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13 Dec 2024 7 min read
JPMorgan Indian’s quality bias weighs on performance
JPMorgan Indian (JII) has published its annual results for the year ended 30th September 2024, during which it produced an NAV total return of 18.1%, underperforming its benchmark, the MSCI India Index by 9.6% (the benchmark returned a hefty 27.7%, outperforming both the MSCI Emerging Markets Index and the MSCI China Index). JII says that […]
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13 Dec 2023 5 min read
Quiet year for JPMorgan Indian despite outperformance
JPMorgan Indian Investment Trust (JII) has announced its annual results for the year ended September 30 2023. NAV total return for the year was 1.2%, marginally ahead of the benchmark return of 0.7%. Share price total return was 2.2% with the discount closing at around 18%. The manager noted that It was a year of […]
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22 Dec 2022 3 min read
Manager line-up changed at JPMorgan Indian
Over the 12 months ended 30 September 2022, JPMorgan Indian Investment Trust generated a return on NAV of 6.3% and a return to shareholders of 0.6%, lagging the 8.8% return on the MSCI India Index. The trust has not been geared into the rising market and has not renewed its borrowing facilities. In an effort […]
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04 Nov 2022 4 min read
QD view – India, the new darling of emerging markets?
The Indian stock market has proved an unlikely safe haven over the past three years. After an astonishing recovery in 2020 and 2021, Indian investment trusts continued their resilience in 2022, only outpaced by commodity-focused markets. Its strength is in notable contrast to China, which languishes at the bottom of the performance tables. It suggests […]
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20 Dec 2021 1 min read
JPMorgan Indian under board scrutiny for underperformance
JPMorgan Indian (JII) under board scrutiny for underperformance – JPMorgan Indian has posted its results for the year to 30 September 2021. During the period, the company produced a total return on net assets of 43.2% while the total return to shareholders was 45.4%, reflecting the narrowing of the share price discount to NAV from […]
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09 Jun 2021 1 min read
QuotedData’s morning briefing 9 June 2021
In QuotedData’s morning briefing 9 June 2021 – JPMorgan Indian (JII) announced interim results to 31 March 2021. While the fund performed well, it was of course a very difficult time for India as a whole. JII managed to deliver a total return NAV return of 21.8%, which compares with a return of 19.2% from […]
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30 Apr 2021 3 min read
QD view – Indian funds take stock
QD view – Indian funds take stock No doubt you have seen the horrific scenes in India as COVID-19 seemingly runs out of control. Our first thoughts must be with the victims and their families, but the managers of funds specialising in the region have also been taking time to update us on what this […]
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24 Dec 2020 3 min read
JPMorgan Indian bet on cyclicals and lost
JPMorgan Indian bet on cyclicals and lost – JPMorgan Indian says that, for the year to 30th September 2020, it underperformed its benchmark by a considerable margin – returning -16.2% in JNAV terms against -4.2% for the MSCI Indian Index. A widening discount left shareholders with a return of -23.2%. The board says that “over the […]
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13 Oct 2020 1 min read
QuotedData’s morning briefing 13 October 2020
In QuotedData’s morning briefing 13 October 2020 Seneca’s manager changing hands – Seneca Global Income & Growth says Momentum Global Investment Management plans to buy Seneca Investment Managers. The board is happy with this move as the two share a similar investment approach. SDCL Energy Efficiency has launched an £80m placing – it hopes to issue […]
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17 Jun 2020 1 min read
Manager change at JPMorgan Indian
JPMorgan Indian (JII) has announced that after 26 years with JPMorgan and nearly 30 years working in finance, Rukhshad Shroff, the company’s joint portfolio manager, has decided to retire from asset management. He will leave JP Morgan Asset Management on 11th September 2020. Joint-manager structure maintained with Ayaz Ebrahim joining JII’s portfolio is managed on a joint […]
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29 May 2020 2 min read
QuotedData’s morning briefing 29 May 2020
In QuotedData’s morning briefing 29 May 2020: The balance between re-opening economies around the world and minimising new cases of covid-19 is delicate. South Korea has closed schools, just a day after re-opening, after recording its highest total of new cases in two-months, yesterday. Templeton Emerging (TEM) has received a tax windfall from HMRC. £26.5m or […]
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04 Oct 2019 1 min read
QuotedData’s other news 4 October 2019
In QuotedData’s other news 4 October 2019 – The Renewables Infrastructure Group raised £227.6m from an issue of shares that was “heavily oversubscribed”. It will issue 185m new shares. The money will be used to pay off its short-term debt and to finance new acquisitions. JPMorgan Indian failed to beat its benchmark (MSCI India) over the […]
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03 Jun 2019 2 min read
JPMorgan Indian benefitting as financials begin to turn corner
JPMorgan Indian benefitting as financials begin to turn corner – JPMorgan Indian delivered an NAV total return of 10.3% in the half-year period to March 31, 2019, slightly above the benchmark MSCI India’s 10% return. Indian equities performed well over the period despite relatively feeble earnings growth, which have been flat for some time now […]
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15 Dec 2017 1 min read
JPMorgan Indian loses out as HDFC foreign premium shrinks
JPMorgan Indian loses out as HDFC foreign premium shrinks – JPMorgan Indian Investment Trust says that, for the year ended 30th September 2017, the MSCI India Index (in sterling terms), returned +10.5%. The company produced a return on net assets of +9.0% over the year. However, the return to shareholders was ahead of the benchmark, […]
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27 May 2016 2 min read
JPMorgan Indian provides modest NAV outperformance
JPMorgan Indian Investment Trust has announced its interim results for the six-months ended 31 March 2016. During the period, the company provided an NAV total return of 2.2%, ahead of its MSCI India Index benchmark, which returned 1.8%. The share price total return was 0.6%, which reflects a widening of the discount over the six […]
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21 Apr 2016 1 min read
Top ten risers and fallers in March
http://view.ceros.com/citywire/it-insider-april-2016/p/21 Investors appeared to have a greater appetite for risk during March, with trusts which have invested in Brazil, Latin America, and Russia all featuring in the top 10 risers.
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27 May 2015 1 min read
JPMorgan Indian hits sweet spot in its market
JPMorgan Indian’s interims for the six months ended 31 March 2015 show the fund producing a total return on net assets of 26.8% well ahead of the Company’s benchmark index, the MSCI India Index (in sterling terms), which returned +14.3% over the period. The return to shareholders was +26.7%, reflecting a stable discount which moved […]
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15 Dec 2014 1 min read
Bumper year for JPMorgan India
JP Morgan Indian Investment Trust results for the year ended 30 September 2014 have been published. It was a great year for the trust as it delivered a return on net assets of 38.9% and a return to shareholders of 44.4%, both ahead of the 37.5% return on the MSCI India Index. The manager’s report […]
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25 May 2014 1 min read
JPMorgan Indian : JII – interims
JPMorgan Indian, managed by Rukhshad Schroff and Rajendra Nair, has released its interim results covering the six months to the end of March 2014. JPMorgan Indian beat its benchmark over the period, generating a total return of 18.7% versus a 15.9% return on the MSCI India Index. Shareholders did even better however as the discount narrowed, […]
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20 Dec 2013 1 min read
JP Morgan Indian : JII – annual results
Over the year ended 30 September 2013 the NAV fell by 13.7%, slightly more than the fall in the value of the benchmark, the , which fell by 12.7%. JII’s discount widened resulting in a share price return of -17.6%. The managers point to overweights, relative to the benchmark, in Infrastructure Finance Development Corporation and cement […]
Upcoming Events
Videos
In The Press
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19 Mar 2024 1 min read
Investment trust insider on JPMorgan Indian
Investment trust insider on JPMorgan Indian – James Carthew: JPMorgan Indian off the boil as India reaches melting point Last month’s comfortably passed continuation vote belies years of underperformance by this trust. Its two mid-cap rivals look better even if India’s financial regulator worries about hot money. When I last wrote about India in October […]
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14 Feb 2024 1 min read
ISA ideas: alternatives to funds and trusts that are flavour of the month
by Jennifer Hill from interactive investor, 14th February 2024: Following the herd doesn’t tend to end well. Throughout history investors’ tendency for herd mentality bias has inflated asset bubbles and driven sharp declines detached from market fundamentals.. Trading on the interactive investor platform highlights half a dozen funds that have climbed the popularity rankings over […]
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16 Aug 2023 1 min read
Investment trust insider on the return of arbitrageurs
Investment trust insider on the return of arbitrageurs – James Carthew: The unfit trusts at risk from an ‘arb’ attack Investment company bargains abound following the discount widening that has plagued the sector. We have seen some welcome proactive moves by boards to address the problem. What does not seem to have emerged yet is […]
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15 Aug 2023 1 min read
Have investors severely underpriced JPMorgan Indian?
By Tom Aylott, Reporter, Trustnet, 15 August 2023: Investors seeking exposure to growth opportunities in the fast-growing Indian market are likely to have been underwhelmed by JPMorgan Indian’s poor performance over the past decade, but it could be taking a significant turn for the better. Returns were up 153.1% over the past 10 years, meaning […]
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25 Oct 2022 1 min read
Investment trust insider on India
Investment trust insider on India – James Carthew: India trusts still have questions to answer A couple of months ago, I highlighted the wide discounts that most of the investment trusts in the India sector were trading on. These have not gone away. However, in terms of underlying returns and net asset value (NAV), until […]
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23 Dec 2021 2 min read
Bargain Hunter: 25 cheap equity trusts towards end of 2021
Kyle Caldwell, interactive investor, 15 December 2021 Some trusts have seen premiums cool, while others are trading on potentially unjustly wide discounts. The pick-up in market volatility of late, amid concerns over rising inflation levels and the emergence last month of the Omicron variant, has led to a welcome increase in potential investment trust discount […]
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02 Jun 2020 2 min read
Investment trust insider on emerging markets
Investment trust insider on emerging markets – James Carthew: there’s value in emerging markets as investors rush to take cover In uncertain times, it makes sense that investors turn to sectors with defensive earnings, such as utilities and infrastructure. Ecofin Global Utilities and Infrastructure (EGL), which I hold, is trading at asset value and issuing shares. […]
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14 May 2019 2 min read
Investment trust insider on India
Investment trust insider on India – James Carthew: ignore India’s polls and pick a stock picker India is going to the polls and results from the general election will be declared on 23 May. It looks as though the National Democratic Alliance, the coalition of the BJP (Bharatiya Janata Party) and various regional parties, will be […]
