Last checked at 17 Sep 2020 16:06
London, UK, 17 September 2020
Edison issues review on JPMorgan Global Growth & Income (JGGI)
JPMorgan Global Growth & Income (JGGI) aims to provide superior total returns and outperform its benchmark over the long term by investing in a portfolio of 50-90 companies from around the world. It has achieved this objective, delivering outright gains and outperforming its benchmark since the inception of its current strategy in 2008. JGGI makes quarterly distributions set at the beginning of the financial year, with the intention of paying at least 4% of NAV at the time of announcement. Dividend payments can be funded from reserves, which means the managers are not constrained by the need to purchase high-yielding stocks but are instead free to invest in non-dividend paying stocks for capital growth. The managers believe this gives investors 'the best of both worlds'.
Despite a brief widening in the discount in late February and March at the beginning of the coronavirus pandemic, JGGI has traded mainly at a premium to cum-income NAV since the adoption of its higher distribution policy at the start of FY17. The trust is presently trading at a premium of 3.8%, compared to average premiums of 2.6% and 2.0% over one and three years respectively and average discounts of 1.6% and 3.6% over five and 10 years respectively. The trust's higher distribution yield, currently 3.7%, has been a major driver in this re-rating.
Click here to view the full report.
Subscribe to Edison's content to receive reports by email.
All reports published by Edison are free-to-access and available on the website.
About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct Authority.
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.
For more information please contact Edison:
Joanne Collins, 44 (0)777 552 4686
Sarah Godfrey, +44 (0)20 3681 2519
investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn https://www.linkedin.com/company/edison-group-
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv