8th Aug 2019 17:46
(Alliance News) - JPMorgan Brazil Investment Trust PLC on Thursday said its net asset value per share grew 2.1% in its most recently ended financial year.
The investment company reported NAV per share of 78.1 pence as at April 30, up from 76.5p recorded on the same date a year earlier.
For the year to the end of April, the trust's total return on net assets was 3.4%, compared with 6.8% returned by the benchmark, the MSCI Brazil 10/40 Index. The share price return to shareholders was negative 0.9%, reflecting a widening in the share price discount to NAV over the year to 18% from 14%.
The stock closed 0.7% lower on Thursday in London ta 74.50p a share.
JPMorgan Brazil declared a dividend of 0.8p a share, which will be paid on September 20.
"Equity markets in Brazil experienced another highly volatile period dominated by politics, fears about rising inflation and negative sentiment towards the country's economic outlook," said Chair Howard Myles.
Related Shares:
JPB.L