LONDON (Alliance News) - JPMorgan Chinese Investment Trust PLC on Friday said it outperformed its benchmark in the first half of the financial year despite reporting a reduction in net assets.
For the six months to March 31, the trust's total return was 8.1% compared to a 5.1% total return from MSCI China Index, the trust's benchmark.
At the end of the six-month period, the company;'s net asset value per share was 324.6 pence, lower compared to the 339.6p registered at the end of March 2018 but increased from the 303.9p reported at September 30.
"This half-year has demonstrated the volatility that is an inherent risk when investing in China, in large part driven by the trade frictions between China and the US, which continue," Chair John Misselbrook said.
He added: "Our investment managers, supported by a well-resourced research team, continue to be able to find interesting companies to invest in that are consistent with the structural growth bias of the investment strategy."
"We remain confident that our investment strategy, combined with the depth of resources in our investment team, will enable us to deliver superior long-term capital growth."
JPMorgan Chinese Investment Trust shares were trading down 1.3% at 260.98p each on Friday.