29th Sep 2025 10:24
(Alliance News) - JPMorgan Emerging Markets Investment Trust PLC on Monday noted a weaker dollar and the continued growth of Chinese manufacturing, as it underperformed against its benchmark in its financial year.
The investment trust focused on long-term growth said net asset value per share rose 3.3% to 126.1 pence each as at June 30 from 122.1p a year prior.
NAV total return for the financial year ended June 30 was 4.9%, underperforming against its benchmark, the MSCI Emerging Markets index, which had a return of 6.3%.
The company said the Korean government's move to emulate Japan and improve shareholder value in the corporate sector was the biggest detractor regarding its investment performance, while technology hardware especially in Taiwan was the biggest single positive.
Further, it noted a weaker dollar, US trade policy and tariffs, the growing prominence of artificial intelligence and real estate concerns in China combined with rising export competitiveness.
Portfolio Managers Austin Forey and John Citron said: "A weaker dollar, the continued rise of Chinese manufacturing, the realignment of global trade patterns: these developments continue to influence emerging markets, and go some way to explaining the better returns, seen from the asset class this year. That more positive backdrop helps, while our efforts as managers of your portfolio remain entirely focused on producing the best outcomes possible in exchange for the risks we take. We continue to believe that a thorough approach, consistently applied, can help achieve that goal in the future, as it has in the past."
JPMorgan Emerging proposed a final dividend of 1.45 pence per share, up 12% from 1.30p a year prior. The total payout is 2.10p, up 11% from 1.90p.
Looking ahead, Chair Aidan Lisser said: "Despite ongoing global uncertainty, there are several reasons why we believe JMG continues to be an attractive prospect for investors. First, emerging markets technology companies are underwriting the global AI revolution, and the technology sector is the largest in JMG's portfolio, accounting for 32.7%."
JPMorgan Emerging shares rose 1.2% to 127.87 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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