4th Apr 2025 12:12
(Alliance News) - JPMorgan Global Emerging Markets Income Trust PLC on Friday said it outperformed the benchmark in its first half year, and maintained its dividend payout.
The London-based investor in emerging market companies said its net asset value total return was 5.9% in the six months to the end of January, compared with 4.9% for the benchmark MSCI Emerging Markets Index with net dividends reinvested.
NAV per share increased 3.6% to 156.8 pence on January 31 from 151.4p at the end of July 2024.
The trust declared two interim dividends of 1.0p per share during the period, in line with the prior year. The first was paid in January and the second will be paid on April 22.
"The company's outperformance in NAV terms was due in part to the portfolio manager's asset allocation decisions, and the result of share buybacks undertaken to support the share price, as buybacks are accretive to the value of remaining shares," said Chair Elisabeth Scott.
Looking ahead, the company said it is reassured by the portfolio manager's "long-term track record" despite uncertainties, especially "the risk of a debilitating global trade war triggered by widespread US tariffs".
Portfolio Manager Omar Negyal said: "We remain excited by the many opportunities we see across emerging markets. Our focus has remained unchanged since the company's inception: we seek out businesses that can produce attractive returns on equity, generate healthy free cash flow, and pay reliable dividends to shareholders.
"By identifying stocks with these characteristics, and buying them at appealing valuations, we have built a portfolio with both value and quality attributes, which gives shareholders an attractive yield while also providing them with the opportunity to participate in emerging markets growth."
Shares in JPMorgan Global Emerging Markets were down 2.7% at 124.50 pence in London at around midday on Friday.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Jpmorgan Glob