Jpmorgan Chinese Investm... Dividends - JMC

Jpmorgan Chinese Investm... Dividends - JMC

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Jpmorgan Chinese Investment Trust Plc JMC London Ordinary Share GB0003435012 ORD 25P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 351.50 01:00:00
Close Price Low Price High Price Open Price Previous Close
351.50 351.50
more quote information »

Jpmorgan Chinese Investm... JMC Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

loganair: This is exactly what JP Morgan did with their Asian Fund (JAI) a few years back, paying a dividend of 4% of Nav per year and paying a dividend 4 times per year, giving a 300% increase in the dividend yield. The only difference is JAI did not change their name. What seems to me to be happening is, as interest rates are so low to negative JP Morgan are hoping to attract more investors to buy in rather then to sell out thereby increasing the share price more than would have otherwise been the case. What JP Morgan also seem to be doing is to make JMC more like a pension annuity, except at the end of the day the capital always remains the investors instead of the annuity being lost when the person sadly passes on.
loganair: By Ian Cowie: Fidelity China Special Situations (FCSS), the £1.8 billion investment trust that ended Anthony Bolton’s career on a bit of a bum note but has since recovered strongly, delivered total returns of 26% during the last year. JP Morgan Chinese (JMC), a longer-established trust but a relative tiddler with assets of less than £270 million, shot the lights out with total returns of 39% over the same period. Cynics might say this is a flash in the pan but five-year returns from these investment trusts of 227% and 137% respectively suggest there is more to China than a mere financial fad. Sceptical souls might fear that by the time the media notice an emerging market it is always too late but, while both these trusts’ shares continue to trade around 12% discounts to their net asset values, there is room for further gains. Closed-end funds are the ideal way to get into this formerly closed-economy because their structure means long-term investors will not be forced to subsidise short-term speculators when they dash for cash, as will happen in highly volatile markets from time to time. By contrast, open-ended vehicles – such as unit trusts and exchange traded funds (ETFs) – may be forced to sell their most liquid and perhaps best underlying assets to meet redemptions. Never mind the technical details, though, what about the big picture? While the world has been looking in the other direction, mesmerised by Donald Trump’s antics in America, another president, Xi Jinping, has quietly consolidated political power and enabled economic progress on a scale rarely seen. Xi is said to see himself continuing the work done by Deng Xiaoping, who became leader in 1982 and introduced a ‘socialist market economy’ to repair the damage done by Mao Zedong’s communist policies that caused millions to starve to death. Little red book fan, John McDonnell, please take note. Now the International Monetary Fund and PriceWaterhouse Coopers are among those who predict China will overtake America as the world’s biggest economy within a decade. The collision of new technology and the same old authoritarian politics is accelerating the rate of change. With a repressive regime that routinely imprisons journalists and anyone else who criticises the government, China could never allow American internet giants free access to its population that comprises a quarter of all humanity. So home-grown rivals – such as Alibaba, Baidu and Tencent – were always guaranteed a clear run at the home market and have clearly taken up this opportunity to the full. This is a bit of a painful topic for me because I invested in what was then Fleming Chinese Investment Trust more than 20 years ago, after visiting Shenzhen and Shanghai. What followed was an exciting ride, with the share price doubling in the run-up to the handover of Hong Kong in 1997 but halving not long afterwards. Things picked up in the noughties, despite a painful spike lower in 2008, before a terrific bounce in 2009 when I took profits to pay for a classic sailing boat and sold the last of my direct interests in that country. Since then, with the benefit of hindsight, I can see that I have taken my eye off the ball. If only I had hung on to those red chips but am now thinking of investing there again. Fidelity’s trust looks marginally more attractive to me because, according to Edison Investment Research, it has shunned banks and property where a nasty surprise might be lurking in the ‘shadow economy’. Instead, Fidelity holds Hutchison China MediTech (HCM) - which has exciting prospects of a cure for some cancers - along with bigger stakes in Tencent and Alibaba. There is also a modest yield of 1.1%, which has risen by 20% over the last five years and is more than double the dividends paid by JP Morgan’s rival trust, where there has been no progress in payouts at all, according to Association of Investment Companies statistics. You don’t need to be a communist or be invited to the congress jamboree to see money-making opportunities in China.
loganair: 30th November 2015 - Portfolio analysis by JP Morgan: The trust's net asset value outperformed the benchmark, while the share price underperformed. Stock selection added value in all three markets, with secular growth names in China the top contributors to returns. The overweight in Sino Biopharmaceutical continued to work well as the stock rallied on strong earnings. Our core internet position in Tencent also helped given strong mobile gaming and advertising revenue. Names geared towards positive consumption trends enjoyed share price gains, such as Zhejiang Huace Film & TV, IMax China, CAR Inc and Regina Miracle. China Petroleum & Chemical was the biggest detractor from returns given losses in its exploration & production business on the back of further oil price declines. Our position in Vipshop also hurt returns given the discount retailer's earnings miss. Uncertainty around potential tariff cuts for wind and solar power added pressure on renewable energy stocks, such as China Longyuan Power and China Everbright International, where we are overweight.
tuckswood8: They are not warrants, they are subscription shares. Ticker is JMCS. The conversion situation is explained in MartinC's link to JPM website above. If the share price was to reach 168p in May 2013 then the subscription shares would be worthless as the conversion price (price subscription share holders have to pay to convert to normal shares on a 1:1 basis) is set at 168p. Of course if the share price had risen to 238p by that time then the sub. shares would indeed be worth 70p. I don't hold any sub. shares here but do in JPM Indian IT (JIIS) where they were given as a scrip issue when I had a holding in JII last year.
hectorp: No they don't. Thats a popular misconception. But they do put on the difference between the cuttent share price and the current warrant price if the NAV rises and the share price rises. Eg, the Warrant MAY get as high as 60-70p in 2013. This is a fantastic return from 4.5p. However my own take is that it will be a difficult journey in this market. On other hand, if at ANY year of the next 4, the share price purs on 30-40p the warrants clearly more than double, so there are gains to be made over shorter times. To me the year 2013 is too far away in this new climate to be confident of anything in the world! ( except that gold will still be worth something)
martinc: How about the warrants? If the share price reaches 168p by May 2013, the warrants will rise from 4.5p to 168p - unless I'm missing something from my quick look. It looks like a 1:1 conversion ratio. See for the conversion terms.
igoe104: WHY haven,t jmc, had a piece of the asian rally. even though the chinese stock market has moved up, jmc haven,t seen any of it, and the share price is still rock bottom.
hectorp: you'll get the 1 for 5 warrants then.. But I'd expect the share price to fall commensurately - yes?
igoe104: THE GOOD NEWS apetley sft is in good order, and the company have told me they will be bringing out an update which should give the share price some life. I hold over 153,000 of them but in 3 years its one of those shares that i expect to be over £2. they have just started selling there tax software in province 3-4 in 3 years if everything goes to plan they will be able to sell all over china, all 32 provinces in going to be a massive ramp up in revenues. Im the same ive got no spare cash either, at the moment.
douggy b: Hectorp You don't seem to know how Investment Trusts work. The NAV is the net asset value and is based upon the investments held. The investments held are valued at their market price. As the investments held by JMC are entirely listed on the chinese / HK/ Taiwanese exchanges the NAV moves up and down with the value of the underlying investments and will largely mirror the movement on these exchanges (difference relates to composition of portfolio / index & currency movements). The discount to the NAV changes as a result of the demand for the IT shares, perception of risk of market invested etc. PE for IT are irrelevent. 'Weakness' as much as it exists in an IT is reflected in the discount or premium to NAV. JMC will not go up (or down) without a movement in the value of it's portfolio of investments. You can't trade ITs on short term 'weaknesses' in share price. The time to buy IT is when the discount is widening (or relatively high) and the underlying market is rising. Or if you believe the underlying market will rise. The time to avoid buying ITs is when the price is at a premium to NAV.
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