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JCH Jpmorgan Claverhouse Investment Trust Plc

674.00
-2.00 (-0.30%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Jpmorgan Claverhouse Investment Trust Plc LSE:JCH London Ordinary Share GB0003422184 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -0.30% 674.00 670.00 674.00 676.00 670.00 676.00 90,061 16:15:21
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -30.43M -35.25M -0.5930 -11.37 400.6M
Jpmorgan Claverhouse Investment Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker JCH. The last closing price for Jpmorgan Claverhouse Inv... was 676p. Over the last year, Jpmorgan Claverhouse Inv... shares have traded in a share price range of 626.00p to 696.00p.

Jpmorgan Claverhouse Inv... currently has 59,435,653 shares in issue. The market capitalisation of Jpmorgan Claverhouse Inv... is £400.60 million. Jpmorgan Claverhouse Inv... has a price to earnings ratio (PE ratio) of -11.37.

Jpmorgan Claverhouse Inv... Share Discussion Threads

Chat Pages: 1
DateSubjectAuthorDiscuss
31/12/2023
15:02
Hi and Happy New Year.

My ISA has evolved from a collection of mostly speculative investments in 2015, to what is now a portfolio of Investment Trusts, focused on dividend growth.
The aim is to construct a portfolio of about twelve Investment Trusts in total, and then add to those positions. (Buy, Build and Hold Indefinitely.) I am hoping to generate a £20,000 annual ISA income, within the next couple of years.

Current portfolio (31/12/23):
10,000 AAIF (Abrdn Asian Income)
20,000 DIG (Dunedin Inc. Growth)
15,000 EDIN (Edinburgh Investment Trust)
5,000 HFEL (Henderson Far East)
4,400 JCH (J.P. Morgan Claverhouse Investment Trust)
30,000 LWI (Lowland Investment Company)
10,000 MRCH (Merchants Trust)
15,000 MYI (Murray International Trust) (5 for 1 subdivision of shares during 2023)
Cash < 2%

This calandar year my additions have been 5,000 Lowland Investment Company - (current holding - 30,000 shares) and the purchase of 4,400 shares in J P Morgan Claverhouse Investment Trust.

For most of 2023 my ISA portfolio went nowhere, with the total value moving in a narrow range (c. 325,000 - £340,000) followed by a late upswing in December. As expected 2023 dividend income was strongly up.

COMMENTS
HFEL
The real laggard of the portfolio has been HFEL. At the end of 2022 it sat at a paper loss of £721. A year later the paper loss to book stands at £3,634. In 2023 my investment in HFEL has fallen a further £2,913 for an income of £1,210. Although only a snapshot, this is terrible. Fortunately I saw warning signs and decided a couple of years ago not to add to the position. HFEL now accounts for just over 3% of the overall portfolio by value. Since buying though, it has provided over £8,000 in income so the overall return does not look quite as bad.

HFEL should forget about being a dividend hero and bow to the inevitable - rebase the dividend! I expect this to happen in 2024 as Mike Kerley is replaced. The new portfolio manager will need to do some kitchen sinking on day one. A cut in the dividend to c.3p a quarter looks possible.

LWI
For most of 2023 LWI has traded on a steep discount to NAV. Being a mixed cap investment trust it has suffered because of its investments in companies outside the FTSE 100. When sentiment improves I think Lowland will outperform, but when that might happen is guesswork. I will add more here in the event of the discount widening again or on any general stock market weakness. During December the share price has bounced and my holding now sits at a small paper profit.

JCH
My main purchase this year has been 4,400 shares in J P Morgan Claverhouse. What is there not to like here! A dividend hero with a record of 50 years of dividend increases. JCH has been sitting at quite a large discount for a company that only invests in large UK companies.
I share many of the views of the portfolio manager William Meadon, who is always quick to point out that large UK companies trade at a discount to global shares and Claverhouse at a discount to its investments. "A double discount." JCH has ticked up in the last few weeks and is currently at a 5.19% discount to NAV.



ISA valuation on Dec 31st with dividend income for the calendar year.

(£) ISA valuation: (£) Income
2015: 113,980......... 4,450
2016: 156,795..........7,293
2017: 186,636..........9,619
2018: 193,414.........10,124
2019: 242,159.........12,557
2020: 221,475.........10,560
2021: 285,587.........12,002
2022: 315,241.........13,377
2023: 352,496.........15,718

2024 should see another strong uplift in dividend income, through further ISA contributions, dividend reinvestment and increasing dividend payouts with the exception of HFEL where a dividend cut looks likely.


Wishing all on the IT boards at ADVFN a very happy and prosperous 2024.

Goldpig

goldpiguk
30/3/2023
15:30
Well there is a huge jump today. I see this as a fairly safe buy and hold at around this price or lower. 5% yield or more is always a buy for me here.
investingdad
29/3/2023
14:12
why is this unchanged today?
prokartace
08/3/2023
17:08
Well, buyback now 465,000 in a month but only enough to keep price at 6% discount on NAV. Parent US company sold 3 million shares in February which kicked off the widening. I've been in this share for over 10 years and discount normally returns to 0-2%. So share is very good value now. Problem is that if you push 3 million shares in a postBrexit investment trust the discount will widen so more buybacks will be needed to keep it stable in short term. As a 5 year investment there is major value here. UK equities will bounce in 2025 with a new European focused Government and in the meantime the secure dividend will payout.
jujufingers
01/3/2023
13:08
Parent US company dumped 5% shareholding in February 2023 pushing share price way below NAV. Trust will need to buyback aggressively to prevent stock becoming a permanent underachiever. Value is there and dividend history excellent so unclear why parent dumped shareholding.
jujufingers
01/2/2023
16:03
An 8% increase in dividend from last year, pretty good considering.
marko60
24/4/2020
05:59
These guy's love their Constant dilution from issue of equity.
sux_2bu
23/4/2020
20:46
A 4% dividend increase announced today.
aurelius5
13/3/2020
12:24
Got to be buying quality and 5% yield helps.
chrissmith2
14/11/2013
16:51
Just set up the thread while I do a bit of research. Not bought in yet. 40 years of unbroken dividend increases is quite impressive.


31 October 2013
JPMorgan Investment Trust
Ten Largest Investments
in % of Total Assets

Royal Dutch Shell 6.5
HSBC 6.3
Vodafone 5.9
BP 5.0
GlaxoSmithKline 4.3
Lloyds Banking 3.4
BT 3.2
British American Tobacco 3.1
Barclays 3.0
Rio Tinto 3.0
43.7

aleman
Chat Pages: 1

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