28th Sep 2015 16:23
LONDON (Alliance News) - JP Morgan Emerging Markets Investment Trust PLC on Monday reported a rise in net asset value total return in its recently-ended financial year, beating its benchmark.
The trust said its NAV total return in the year ended June 30 grew 7.4%, beating the 3.2% growth posted by its benchmark the MSCI Emerging Markets Index.
"The last year or two have been a troubled time for investors in emerging markets. Markets have struggled to recapture the strong relative performance of the years leading up to the crash of 2008 and indeed the immediate recovery from that," Chairman Alan Saunders said in a statement.
"Unquestionably risks have increased in many countries in recent years. There is a strong case for saying however that these risks have been priced into valuations that are now on a significant discount to developed markets. Sentiment is still fragile but taking a long term view, the board feels that emerging markets should outperform developed markets," he added.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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