14th Jan 2020 14:40
(Alliance News) - Jupiter Emerging & Frontier Income Trust PLC on Tuesday said its performance improved in its most recently ended financial year despite headwinds.
The investment company reported a 6.1% growth in net asset value per share to 104.21 pence as at the end of September 2019 compared to 98.26p on the same day a year earlier.
Jupiter Emerging said it has outperformed its benchmark in the financial year, with NAV return of 10.5% versus 3.7% return from the MSCI Emerging Markets Index in sterling.
The trust's shares stood at 98.60 pence at the end of its financial year, representing a 5.4% discount to NAV.
The stock was trading 1.9% higher in London on Tuesday at 109.04p a share.
Jupiter Emerging raised its annual payout by 10% to 4.4p from 4.0p paid for its financial 2018.
"It has been a difficult year for investors in emerging market equities, which faced several headwinds during the period," said Chair John Scott.
"The volatility of world markets over the course of this year has highlighted the importance of being selective and the investment adviser has shown that it is highly adept at identifying suitable investment opportunities," added Scott.
By Evelina Grecenko; [email protected]
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