LONDON (Alliance News) - JPMorgan European Investment Trust PLC on Friday said that both of its portfolios outperformed their benchmark index in the first half of its financial year, although they both produced negative total returns.
The trust said its growth portfolio produced a total return on net assets of negative 8.0% in the six months ended September 30, versus a total return on the benchmark index, the MSCI Europe ex UK Index, of negative 10.6% (both in sterling terms). The growth portfolio share price was down 10.3% in the half and, with net dividends reinvested, the total return to growth shareholders was negative 8.5%
The income portfolio produced a total return on net assets of negative 8.1%, compared with the total return on the benchmark index, also the MSCI Europe ex UK Index, of negative 10.6%. With net dividends reinvested, the total return to shareholders was negative 6.7% over the period.
Growth shares in JPMorgan European Investment Trust were flat at 236.00 pence on Friday, while the income shares were down 2.5% at 129.00p.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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