25th Mar 2015 12:49
LONDON (Alliance News) - JPMorgan Global Emerging Markets Income Trust PLC on Wednesday said the increase in its net asset per share was superior to the increase in the MSCI Emerging Markets Index.
The trust reported a 2.7% increase in net assets per share in the year ended January 31, a favourable performance against the increase of 2.2% from the MSCI Emerging Markets Index in sterling, with dividends reinvested.
Chairman Andrew Hutton said the trust must deal with a number of challenges as investing in emerging markets is "never plain sailing".
"For now, the macro-economic and political elements are not conducive to corporate confidence and dividend growth. However, the board is pleased to see that the managers continue to focus primarily on the individual companies in the portfolio and are finding interesting opportunities in several regions. Nobody knows how this current cycle will develop; but the strategy of owning well-managed, shareholder-friendly businesses continues to offer attractive longer term returns," Hutton said.
JPMorgan Global Emerging Markets Income Trust shares were flat at 118.05 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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