Jpmorgan Chinese Investm... Share Price (JMC)

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Share Name Share Symbol Market Type Share ISIN Share Description
Jpmorgan Chinese Investment Trust Plc LSE:JMC London Ordinary Share GB0003435012 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 351.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
347.00 356.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 1.96 2.46 142.9 264
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 351.50 GBX

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11/2/202110:00RNSNONJPMorgan China Growth & Income PLC Kepler Trust Intelligence: New Research
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Date Time Title Posts
05/2/202020:34A FANTASTIC CHINA FUND j.p. morgan648
23/5/200617:07jmc6
19/4/200608:23China - What's going on135

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27/1/2020
10:17		loganair: The developing markets of China and India will make up 35 percent of global gross domestic product (GDP) by 2060, nearing the US and European nations' combined share, according to the Japan Center for Economic Research. The Tokyo-based think tank says China's share of the world's economy will be about 20 percent and India's nearly 16 percent, up from 17 percent and four percent in 2019, respectively. The combined share of the United States and European economies will fall from over 50 percent in 2019 to 38 percent in 2060, said the report. European nations will have their collective share of GDP at a level slightly above India in 2060, but their proportion of global GDP will have fallen significantly. Meanwhile Japan, once the world's second-largest economy in the 20th century, will become a smaller, weaker player. Its share of global GDP is predicted to fall to three percent in 2060 from six percent last year.
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16/12/2019
19:08		loganair: A dividend of 2.5 pence per share will be paid on 12th February 2020 to shareholders on the register at the close of business on 27th December 2019. The ex dividend date is 24th December 2019.
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11/12/2019
13:06		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.
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15/1/2019
15:58		loganair: JP Morgan’s global equity strategists are positive on emerging markets versus developed markets this year, but are ‘neutral’; on China whereas they prefer Brazil, Chile, Russia and Indonesia. In addition the analysts say global emerging markets are cheap, trading at lower price-to-earnings ratios than in their last bear market in 2015-16.
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03/6/2018
10:37		loganair: Mark Mobius tilts towards China, South Korea and is also bullish on Brazil and Russia where consumer Discretionary goods and services benefiting from domestic consumption growth in these countries. "The opportunities are incredible for the right investment." He remains optimistic in the emerging markets of Vietnam, China and India and believes we're going to see lot's of opportunities in these markets down the road especially India has got tremendous opportunities. Mobius also small- and mid-size mainland Chinese companies public in Hong Kong. Fintech is a focus area, as is firms that assist traditional corporations to better deploy internet technologies. "That's where the growth opportunities are," he said. "China is now a huge market, and it's growing because we are now getting more and more access," he said. “With the A-share market coming into the availability of foreign investors, the opportunities are incredible”. He also says he expects a 30% correction in the US market as a result of massive out flows from ETF's. Currently global ETF stock assets stand at $4.7 trillion.
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24/3/2018
11:11		loganair: Great expectations by Marina Gerner: So what is the outlook for the BRICS? Stammers says that, ultimately, China and India are looking to become leading global providers of goods and services, so they make things. In contrast, Russia and Brazil are expected to become the global giants in commodities, so they provide the basic raw materials needed to make those things. Paul McNamara, an investment director and lead manager on emerging market bond, currency and hedge fund strategies at GAM, says: ‘China and India matter a lot; the other two are secondary.’ All the BRICS countries face different obstacles. ‘Russia is crippled by dysfunctional institutions and corruption, but Brazil is slightly better off,’ comments McNamara. Redwood says Russia has ‘suffered a setback from the lower oil price, which has hit its export earnings and tax revenues, and from Western actions, which have made some trade and transactions more difficult’. Redwood observes that Brazil has been through a bad political and economic crisis, with recession, high inflation and difficult corruption problems forcing changes of government. He says: ‘There is now some hope of recovery, but there remain deep-seated economic and political problems to resolve fully.’ South Africa too has been suffering from political instability and failing economic policies. ‘Future sustained progress in both Brazil and South Africa will need stable reform-oriented governments that can shake off the problems of the past,’ he adds. India has become the poster child for reform-led recovery in emerging markets, argues James Penny, senior investment manager at TAM Asset Management. ‘With the appointment of prime minster Modi, the country has been put on a path of steep and deep economic and government reform to bring its economy and vast middle-class population to the forefront in the modern market.’ ‘India has scope to become one of the world’s largest economies, but it still has a lot further to go to increase incomes per head.’ Moreover, South Africa, Russia and to some extent Brazil rely on mining and the production of oil and commodities, whereas China and India are more dependent on imports of raw materials. Dominant China: However, Penny says the biggest and, on the global stage, the loudest of the BRICS nations remains China. The country continues to make headlines speculating about whether its economy could suffer a ‘hard landing’ in the face of its highly leveraged corporate sector and a fall in GDP to 6 per cent. But he is keen to put these figures in context: ‘Let’s be clear here,’ he says. ‘The US is struggling to find 4 per cent GDP growth, the UK is looking at 1.5 per cent, and the world is worrying about a Chinese slowdown to 6 per cent GDP growth?’ -China, not India, will dominate future Asian growth: The growth rates of the BRICS economies, with the possible exception of India’s, over the next 10 years is likely to be about half that of the previous decade, according to Smith. India’s and China’s shares of global GDP growth will probably be smaller, but the countries will remain dominant. ‘China will remain the largest [BRICS] economy and should continue to command investors’ attention,’ he says. ‘But if India opens up and reforms, investors should begin to devote more of their attention to the subcontinent.’ That said, he points out that, given the relative size of the two economies today, it would still take more than 30 years for India’s GDP to exceed China’s, even if India achieves all its reform goals and China achieves few of its aims. Ultimately, the strength of the BRICS as an investment proposition is their very diversity, argues Ballard. ‘They are so different that they provide an element of diversification beneficial for any long term investor.’
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22/11/2017
11:36		walter walcarpets: nice surprise RNS Number : 2412X JPMorgan Chinese Inv Tst PLC 22 November 2017 LONDON STOCK EXCHANGE ANNOUNCEMENT JPMORGAN CHINESE INVESTMENT TRUST PLC DIVIDEND DECLARATION AND CHANGE IN ALLOCATION OF EXPENSES The Board of JPMorgan Chinese Investment Trust plc announces that, subject to shareholder approval at the Annual General Meeting to be held on 26th January 2018, a dividend of 1.60 pence per share will be paid on 7th February 2018 to shareholders on the register at the close of business on 15th December 2017. The ex dividend date is 14th December 2017. The Board has recently reviewed its policy of allocation of expenses (management fee and finance costs) to revenue and capital. Since the launch of the Company in October 1993, the Company has allocated 100% of expenses to revenue. However, with effect from 1st October 2017, the Board has decided to split the allocation of expenses between 75% to capital and 25% to income. This change will result in an increase in future dividends paid out by the Company such that it is able to maintain its investment trust status. 22nd November 2017
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20/10/2017
09:47		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.
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21/7/2017
13:05		grabster: Those are all views of China and its prospects. JMC has risen strongly since the turn of the year, but how does it compare with other China funds?
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27/9/2016
17:17		loganair: Emerging markets recover, but now for the hard part by Michelle McGagh: Emerging markets have been strong performers this year, but now earnings need to improve, say investment trust managers. Emerging markets have only entered the first leg of a recovery and company earnings need to improve before a genuine turnaround can take hold. Emerging markets have had a rocky few years but investments trusts focused on the sector are among the best performers of 2016. Shares in these trusts have risen 31% on average since the start of the year. The outcome of the EU referendum in June provided a further boost to emerging market investments as the value of sterling fell, however, it is only just the start of the recovery. Carlos Hardenberg, manager of the Templeton Emerging Markets investment trust, said the ‘pendulum was swinging back’ in favour or emerging markets. Shares in the trust are up 42.8% this year, making up all the ground lost in a torrid 2015. Hardenberg took control the fund from veteran emerging market manager Mark Mobius last September. ‘The market always over reacts when the general consensus turns negative,’ said Hardenberg. ‘Share prices are more volatile than underlying earnings. We are seeing industrial production, as a measure of recovery, increasing in emerging markets...if you go country by country, there is a healthy degree of orders. ‘GDP growth is slowly improving and over the next two years markets like Russia and Brazil will see the biggest relative improvements.’ Omar Negyal, manager of the JPMorgan Global Emerging Markets Income trust, targets income rather than capital growth in his fund and said the real recovery in emerging markets will have begun when company earnings stabilise. ‘What we are seeing in emerging markets is the first leg of recovery,’ he said. ‘China is stabilising and there is an improvement in trade balances in emerging markets. For the second leg [of recovery] to come through, earnings have to start to improve. We are at the start of that,' he said. He said improved earnings would help the ‘rerating of high yield equities in the asset class’. China has been the main problem for emerging markets, with slowing growth dragging the sector down. Hardenberg holds 19% of his trust in the country. He said there were still concerns around housing and ‘over capacity in steel and cement that will have to be dealt with in future’. ‘The big negative for emerging markets is the overall impact of global uncertainty and demand and supply in commodity markets,’ said Hardenberg. Former chief economist at the International Monetary Fund Ken Rogoff has also warned of the threat China poses to the global economy due to its high levels of debt. He said there was ‘no question’ that ‘China is the greatest risk’. ‘China has been the engine of global growth,’ he said. ‘China has been really important. But China is going through a big political revolution. And I think the economy is slowing down much more than the official figures show,’ he said. However, the good news is that sentiment towards other emerging markets is becoming more positive and local emerging market currencies are ‘slowly recovery’ and companies are finally keeping ‘capital expenditure down and concentrating on cost management’, said Hardenberg. Emerging companies in mid and small cap - there are more opportunities there,’ said Hardenberg, adding that many tech companies - of which he has been a fan - were ‘leap-frogging’ more established businesses. In particular, Hardenberg said he looked for companies ‘that have sustainable business models in an area with a high barrier to entry’. ‘We are expecting that emerging markets will see a sideways development over the next 12 months and there is a clear risk from China...and there is some danger already priced in,’ he said. Although Asia is the largest geographic weighting in his trust, Hardenberg said he did not ‘have exposure to Chinese banks or insurance companies’ because of their poor asset quality and concerns the companies were ‘hiding how they are restructuring’. China is the concern for Negyal, whose trust has mounted a recovery almost as impressive as Templeton's this year, with the shares up 38.6%. ‘China is very important for emerging markets at a quarter of the asset class and for the rest of the emerging markets it is vital... because it drives the rest of the emerging markets via trade links,’ he said. ‘That’s commodity prices in Latin America or manufactured goods in the rest of Asia. There are very few emerging markets that are isolated from China. From an economic perspective, Latin America will benefit from stabilisation [in China].’ Also important for Negyal is for emerging markets ‘to re-enter growth territory’ to ensure companies can continue to pay dividends. ‘Emerging market dividends and earnings have been under pressure,’ he said. ‘The near term outlook for dividends is still a concern and it is something we want to be cautious about but in the mid and long-term growth opportunities can be seen as well,’ said Negyal.
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