JPMorgan Global Growth & Income PLC on Monday said its net asset value per share for the year has risen nearly 25% amid ‘positive’ investor sentiment.
The London-based investment trust reported its net asset value per share for the year-end at June 30 was 569.6 pence, up 24% from 458.9p year-on-year. The company’s net asset value total return for the year was positive 28%, compared to the benchmark price of positive 29%.
Chair Tristan Hillgarth said: ‘Investor sentiment has been mostly positive during this period. The market received support from the ongoing excitement about artificial intelligence, and evidence of declining inflation pressures was greeted with relief, especially as it was not accompanied by any apparent slowdown in economic growth. Lower inflation has created scope for lower interest rates. The Bank of England, the US Federal Reserve and the European Central Bank have already begun their easing cycle, and investors are eagerly anticipating similar moves by other central banks. Together, these factors ensured that global equity markets realised strong gains over the past year.’
JPMorgan Global declared a total dividend of 22.80p per share for the year, up 24% from 18.44p last year. It declared its first interim dividend for financial 2025 in July at 5.70p per share, increasing 24% from 4.61p at the same time the year before.
Portfolio Managers Helge Skibeli, James Cook and Tim Woodhouse, added: ‘We believe that global stock picking across our core investment universe remains attractive and rewarding, and we see many well-priced opportunities. The company has exposure to a number of long-term trends, such as the rapid adoption of AI tools, cloud computing and the transition to renewable energy, which we expect will drive the market over the medium to long-term. However, our caution about the near-term outlook, and the possibility of recession, has also influenced positioning. We have increased exposure to defensive sectors, which should outperform during any slowdown.’
Shares in JPMorgan Global Growth & Income were down 0.8% at 549.71p each in London on Monday morning.
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