Jpmorgan Emerging Market... Share Discussion Threads

[loganair] 25/8/2020 08:24

Looking at the rankings above, this is why Botswana's currency is and has been the strongest in Southern Africa and most probably the strongest in the whole of Africa.

[jfinvestments] 25/8/2020 08:15

Can see this passing through £11 soon and being about £11.50 before long. Solid top 10.

[jonwig] 11/5/2020 08:29

Research note today: https://www.trustintelligence.co.uk/investor/articles/jpmorgan-emerging-markets-retail-may-2020

[jonwig] 11/5/2020 06:10

From the Economist a week ago. Some of the bottom ones are a bit surprising. JMG's main country exposures are at 10, 18, 2, 47, 30.

[hazl] 07/4/2020 07:23

Pleased to see this bounce back...

[hazl] 30/3/2020 15:43

jonwig....thanks for your quick response and reminder.

[jonwig] 30/3/2020 11:31

hazl - JMG's asset allocation is pretty concentrated: China 53%, India 20%, Taiwan 10%, ... Countries mentioned in the article don't figure except for Indonesia 4.3%. It does indicate a problem, though.

[hazl] 30/3/2020 10:52

https://uk.advfn.com/stock-market/stock-news/82111044/hidden-chinese-lending-puts-emerging-market-econom hmm

[hazl] 20/3/2020 08:41

Pleased to see a bit of a bounce back.

[hazl] 13/3/2020 13:49

more director purchases

[jonwig] 11/3/2020 15:59

The discretionary broker who handles some of our funds has been adding to these this week. The dollar index weakness, I think.

[hazl] 11/3/2020 15:43

And a director buy.

[hazl] 11/3/2020 15:41

Good NAV for now.

[hazl] 11/3/2020 08:08

Picked up a few yesterday.

[woracle] 17/10/2019 16:51

Your EM stocks may have done well this year but in relative terms, US stocks have done twice as well. Dont take my word for it, the YTD performance figures for all IA sectors are easily available in the public domain. Trustnet or morningstar are invaluable in that respect.

[loganair] 17/10/2019 16:21

I disagree as my EM stocks have performed very well this year so far.

[woracle] 17/10/2019 15:33

You sure ? MS got it totally wrong. Just shows the experts do not have a crystal ball. EM has been the worse region this year and US the best, although this fund has been one of the top EM trusts. Check out the numbers on Trustnet.

[deadly] 17/10/2019 08:25

Morgan Stanley got that pretty right. Been a very good year so far.

[loganair] 02/1/2019 20:42

Avoid US stocks: Emerging markets is where to put your money in 2019, says Morgan Stanley: Stocks in emerging markets have had a rough year but are tipped for a turnaround, according to Morgan Stanley, which predicts stable growth in those economies in 2019. The investment bank has upgraded emerging market stocks from “underweight” to “overweight221; for the new year, while US equities were downgraded to “underweight.” “We think the bear market is mostly complete for EM (emerging markets),” the bank said in its Global Strategy Outlook report for 2019, adding: “We are taking larger relative positions and adding to EM.” Many investors withdrew from emerging markets throughout 2018 and bought more assets in the US due to a spike in bond yields. That will change, says Morgan Stanley, explaining that emerging markets will outperform developed markets. Within the emerging markets space, Morgan Stanley’s key “overweight221; countries are Brazil, Thailand, Indonesia, India, Peru and Poland. The bank classes Mexico, the Philippines, Colombia, Greece and the United Arab Emirates as “underweight.” Growth across EM has been forecast to slow slightly from 4.8 percent to 4.7 percent in 2019, before inching back up to 4.8 percent in 2020. US growth will moderate from the 2.9 percent estimates to 2.3 percent in 2019 and 1.9 percent in 2020, Morgan Stanley said. “A major challenge for US assets next year is that they’re ‘boxed in’ – better-than-expected growth will simply mean more Fed tightening, while weaker-than-expected growth will raise slowdown risks, with limited scope for policy support,” its strategists wrote. “In a major change from the last 10 years, both good news and bad news creates problems for US markets.”

[loganair] 25/4/2018 22:32

Investment trust awards 2018: Best emerging markets trust - Winner: JPMorgan Emerging Markets Investment Trust JPMorgan Emerging Markets Investment Trust (JMG) is one of the largest global emerging market trusts and it boasts highly competitive NAV total returns over three, five and 10 years. Its costs are reasonable and it deserves to trade on a tighter discount than the 10 per cent its board tends to defend. The trust’s universe has expanded hugely since Austin Forey became manager in 1994. In particular, it now includes far more technology-based businesses and Chinese ‘A’ shares (issued by companies traded on mainland China exchanges rather than in Hong Kong). Forey says there are now more A shares than quoted companies in all other emerging markets combined, and that choosing them correctly is critical to success. JPMorgan is well placed for the challenge, as it started expanding its emerging markets research team 12 years ago. Having merged this with its Asia research team and added 10 China-focused analysts, the team is now more than 30-strong, split between London, New York, Singapore and Hong Kong. Forey asks the team to forecast how firms will develop over at least five years and what compound returns they might produce. His favourite metric is the dividend yield, on the basis that companies can’t manipulate this. He explains that ‘companies that are growing their dividends faster than average tend to have higher returns on capital’. Forey has concentrated JMG’s portfolio down to 62 holdings, which must have been difficult, as he likes to run his winners indefinitely. ‘The holdings you keep the longest tend to go on working,' he says. His largest country weightings are China, India, South Africa, Brazil and Taiwan. The trust’s largest sector weightings are to financials and technology.

[loganair] 24/3/2017 09:37

By Maike Currie of Fidelity: Bull markets climb a wall of worry and blips along the way are normal. In equity markets, these types of corrections can in fact be quite healthy and a good time to scoop up investments at discounted prices. Key reason to believe the party isn’t over: emerging markets. After Trump’s election there was a lot of angst about the future of emerging markets - largely because of two reasons: trade and tapering. Many emerging markets are export driven economies reliant on global free trade. Many of these countries have built their wealth by supplying the huge appetite of the American consumer. Trump’s ‘Buy American’ rhetoric raised concerns over emerging markets vulnerability to American protectionism. The other big concern centred on a stronger dollar. With rising rates and the tapering of ultra-loose monetary policy likely to lead to a strengthening of the American currency, emerging markets with dollar denominated debts or those dependent on commodities, looked particularly vulnerable. But the opposite has played out. Since the Federal Reserve’s interest rate hike announcement, the US dollar has been weaker while the market has pressed the pause button on the merits of Trump’s reflationary promises. What does this tell us? Well, crucially that the power of central banks in developed markets to drive up asset prices is fading and that emerging markets aren’t nearly as worried about tightening monetary policy in the developed world than the once were (remember the tantrum emerging markets threw in 2013 just at the mention of the word ‘taper’)? . And here’s the rub: investors may be turning cautious, but they’re not shunning emerging markets, typically regarded as one of the most risky investment classes. In fact flows into emerging market funds are at their strongest on record, according to data from Morgan Stanley, while emerging market asset classes make up six of the 12 best performing asset classes so far this year. Moreover, as Ayesha Akbar, a portfolio manager in Fidelity’s multi asset team, highlights there are also a number of longer term structural factors which favour these regions. In most emerging markets, people have seen rising living standards over the past 20 years, whereas in the developed world many have witnessed stagnation. This alienation with many feeling shutout from the so-called establishment, has been a key driver behind the rise of populist parties across the world, and indeed the election of Donald Trump. Emerging markets can always make their economies more productive to boost growth but this solution is not always as readily available to developed economies. Not only is there less room for ‘catch-up growth’ but these types of reforms tend to be more politically difficult, with the potential to uproot the status quo. Even the most traditional area of emerging market risk – politics – is now seen as less of a threat with countries like China and India making good progress in promoting a more stable economic and political backdrop. Compare this to the political clouds hanging over the developed world - Trump, Brexit, European elections and even a second Scottish Referendum. As investors we like to think of the investment world as neatly split between ‘safe’ developed markets and ‘risky’ emerging markets - but perhaps now is the time to rethink this. Yes, Donald Trump remains an unknown quantity and this is why we have witnessed these recent market jitters. But if you take a more holistic and long term look at the world, and how it’s changing, it probably doesn’t matter that much.