18th Oct 2019 09:09
(Alliance News) - JPMorgan Global Emerging Markets Income Trust PLC on Friday reported an improvement in net asset value in its most recently ended financial year.
The investment company said NAV per share as at July 31 was 145.0 pence, up 7.7% from 134.6p reported a year prior, thank to the favourable stock selection.
NAV total return during the year was 12%, while the company's benchmark, the MSCI Emerging Markets Index, returned 4.8%.
The total return to shareholders was 19%, reflecting the narrowing of the share price discount to NAV from 6.4% to 1.0%.
The trusts shares were trading 0.2% lower in London on Friday at 129.49p each but is up 5.7% in 2019 to date.
During the financial year, JPMorgan Global Emerging Markets paid three interim dividends of 1.0p per share and has announced the payment of a fourth interim dividend of 2.1p per share. This brings the total dividend for the year to 5.1p per share, a 2% increase from last year.
Looking ahead, the trust said it remains confident that the investment managers are well positioned and resourced to identify companies with good prospects for dividend generation, growth potential and resilient financial characteristics which are capable of achieving strong long-term performance for shareholders.
By Evelina Grecenko; [email protected]
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