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Credit due where credit's due... JCGI so far today, in the blue! Perhaps those positive commentators are right after all! Fingers crossed for onwards & upwards!
Another 3% fall today. Sigh... and to think, we pay these fund managers for abstract failure! If they where football managers they'd be sacked well before now! One of the worst performing China trusts. If this was a school report I'd be writing: "must try harder". !!! OK, China has been a dog for some time but if this continues much longer this trust will become a penny share! On a more positive note, some commentators are saying China is now undervalued and maybe the market to once again consider? Certainly hope so. Apologies for the rant by the way.
Unfortunately, the SP is once again in negative territory (-4%+) while the rest of the market is generally up. Not sure why this is the case particularly as the majority of share trades today are purchases. Fingers crossed for a recovery later on today albeit I won't bank on it!
"We are also optimistic about the outlook for Chinese equities. We forecast expected annualised returns over a five-year period, as we believe this figure provides a reliable indicator of potential market performance. Over the next five years, we expect annualised returns to approach 20%",
Let's hope it continues!
Thanks Etotheipi, interesting read. I haven't been on the board recently as I've let my investment in JCGI ride. Good to see it making up some lost SP ground albeit I'm still circa 8% underwater. Sometimes I focus too much on the SP forgetting the 4% divi which in itself is none too shabby. Hopefully, this will continue to be paid. Still sitting on a discount to NAV I see. I am feeling a tad more positive & might actually add to my holding rather than continue to moan about the performance! Apologies to all for my ramblings!
This one making a slight recovery...
Biased of course but presents a good positive overview of the fund manager's thinking.
https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-jpmorgan-china-growth-income-retail-oct-2021#summary
Post Evergrande (assuming an orderly resolution), i'm beginning to wonder if it's a sensible time to add more here. A risky move but in for a penny and all that....
The irritating thing about the JCGI commentary is the lag, this is the final comment from 31st July:
"Domestic policies point to a modest slowdown in headline growth, but most likely with it being of higher quality. Encouragingly, this will come in part from structural reforms around consumption, investment and capital markets."
I think this is a good point, the Chinese cp are improving the governance of Chinese companies which should be good for the long term investor. The issue at the moment is that some investors are worried about where the next changes are likely to be made. I'm assuming that the JPM team have some contacts within the Chinese government, that's why I'm paying them a modest fee rather than investing directly, if that's possible.
Phyl, they produce a monthly commentary on their website a bit delayed but that's how they communicate with shareholders. This has always been a volatile share which at the moment is going through a bad patch due to geopolitics, sell by all means, put your money in a bank earning 0.5% and avoid looking at the share price in the future.
And to cap it off we're paying the fund managers for this shocking performance! By the way, I haven't heard sight nor sound of em. I wonder why!
Down another 2.5% again today. What road is this trust on? The road to nowhere that's where! Unbelievably poor.
A very frustrated investor.
Chinse equities are out of favour at the moment due, the sp will recover imo.
I agree - it's my worst performing fund and i've got quite a bit tied up here. 2021 was predicted to be the year that China outperformed. That'll teach me for listening to the 'experts'!
I keep telling myself that it'll come good, the Chinese authorities surely can't maintain this direction of travel. Time will tell. EG
Now over 12% down in what must now be the worst investment I have ever made. Just when you think it can't fall further... it does. Good luck to all investors in this trust. Goodness knows we need it!
With those earnings what a rubbish dividend. Deserves to be sold down!
It will be interesting to read what the fm says, last commenary was 31/1/21 here: https://am.jpmorgan.com/gb/en/asset-management/per/products/jpmorgan-china-growth-income-plc-ordinary-shares-gb0003435012#/commentary
Any ideas on the frequency of these?
I'm feeling your pain Figgsey. I think it's a mix of Govt pressure on tech co's and the US relations headlines not helping either.
Why the big sell off?
I can appreciate down but not by that much.
Yet another helter skelter ride today in so far as the SP goes. We are in a real somewhat prolonged period of uncertainty hence the scale of volatility. Could do with some better news on JCGI!
Current share price 562, NAV 666.5 18.5% discount. JP seem very keen to issue shares when trading at a premium, it's about time they started buy backs to reduce the discount.
The odd thing is that the trade tensions between USA and China have been around for a while, yet suddenly this week there's a big sell off not just the share price but the nav. Maybe, as you said, it's general volatility. The share price seems to be stabilising now although the nav is down. Hopefully the bleeding has stopped.
I can see from the significant volume of transactions today, most are sells. I hope they do not represent panic sells with investors losing money. In my view, the current SP represents extremely good value and therefore a very good entrance price. GLA