27th Nov 2025 15:37
(Alliance News) - JPMorgan European Growth & Income PLC on Thursday noted its position as the "best performing investment trust in its sector", as it reported outperformance against its peers and benchmark during the interim period.
The London-based investment fund reported a total return on net assets per share of 14.2% for the six months that ended September 30, beating its benchmark, the MSCI Europe ex UK, which returned 10.7% over the same period.
The trust's net asset value per share grew 12.1% to 132.4 pence from 118.1p at March 31.
Chair Rita Dhut attributed stock selection as the primary reason for the period of outperformance.
The trust cited Heidelberg Materials AG as one of the main contributors to its strong performance, as it noted a "much more price rational" cement market owing to regulatory changes.
On the other hand, Carlsberg AS served as the main detractor as it printed weaker than anticipated volumes, particularly in Asia, said the company.
The trust noted that the company was voted the best investment company in the European sector at the AIC Investment Week Award ceremony held on Wednesday last week.
JPMorgan European Growth & Income reported an interim dividend of 2.4p per share, flat with the prior year.
Its shares were trading down 0.7% at 134.00 pence on Thursday afternoon in London.
Looking ahead, Portfolio Managers Alexander Fitzalan Howard, Zenah Shuhaiber and Tim Lewis said European valuations "remain attractive", noting that investment flows into these markets have "started to pick up".
They noted that they "continue to find stock picking opportunities that meet our criteria regarding valuation, quality and operational momentum."
By Christopher Ward, Alliance News reporter
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