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JPMorgan Indian Investment net assets rise and outperforms benchmark

13th Dec 2023 10:55

(Alliance News) - JPMorgan Indian Investment Trust PLC on Wednesday reported a rise in its net asset value and said it had outperformed its benchmark over the financial year.

The investor in Indian companies said NAV per share at September 30 rose 1.2% to 1,058.5 pence from 1,045.8p a year ago.

The NAV total return was 1.2%, outperforming its MSCI India Index benchmark which grew 0.7%.

Pretax profit for the financial year ended September 30 was GBP15.3 million, down 62% from GBP40.3 million.

Looking ahead, JPMorgan Indian Investment said the long-term outlook for India remains positive.

Chair Rosemary Morgan said: "The board is optimistic about the company's prospects, and we share the portfolio managers' confidence in their ability to continue delivering attractive levels of capital growth to shareholders over the long-term."

Shares in JPMorgan Indian Investment were flat at 902.00 pence each in London on Wednesday morning.

By Sabrina Penty, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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