Jpmorgan Global Converti... Share Price (JGCI)

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Share Name Share Symbol Market Type Share ISIN Share Description
Jpmorgan Global Convertibles Income Fund Limited LSE:JGCI London Ordinary Share GG00B96SW597 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 85.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
87.80 88.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 8.22 6.76 3.81 22.3 101
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 85.00 GBX
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JGCI is a large holding in the following funds:
 Fund  Percentage of Fund  Last Updated 
 JPMORGAN MULTI-ASSET GROWTH AND INCOME PLC 4.10% 2021-05-31

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Date Time Title Posts
31/10/201912:05JPMorgan Global Convertibles Income Fund Limited38
26/6/201314:26JPMorgan Convertibles Trust-
18/6/201312:47JPMorgan Global Convertibles Trust1

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DateSubject
25/6/2021
09:20		Jpmorgan Global Converti... Daily Update: Jpmorgan Global Convertibles Income Fund Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker JGCI. The last closing price for Jpmorgan Global Converti... was 85p.
Jpmorgan Global Convertibles Income Fund Limited has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 118,676,254 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Jpmorgan Global Convertibles Income Fund Limited is £100,874,815.90.
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14/9/2017
15:14		davebowler: 13 September 2017 THE NET ASSET VALUE PER SHARE IN PENCE, INCLUDING INCOME WITH DEBT AT PAR VALUE: 102.2
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20/10/2016
14:20		davebowler: Winterfloods; Defensive income with capital upside potential JPMorgan Global Convertibles Income initially performed strongly following its launch in 2013, having benefited from rising equity and credit markets. However, performance was negatively impacted by widening credit spreads during the second half of 2015. Having traded at a premium since launch, this more difficult period for markets coincided with a de-rating of the fund’s shares. In addition, currency exposure is fully hedged and as such, despite its very significant exposure to the US and Europe, the fund’s NAV has not benefited from the recent devaluation of Sterling. While share price returns have therefore been disappointing, the NAV has proved relatively defensive during periods of volatility and the fund’s prospective dividend yield of 4.9% is undoubtedly attractive. Moreover, the Board has stated that it would expect to buy back shares if the discount to NAV “exceeds 5% for any significant period of time”. We think that downside discount risk is therefore limited and that the current discount of 9% represents an attractive entry point. Taking all of this into account we continue to recommend the fund within the fixed income allocation of our model portfolio. n Portfolio diversification has been increased over recent months and, with the approval of the Board, the managers have adopted a greater focus on total returns. While the fund’s portfolio yield has therefore fallen, the managers are confident that the investment strategy is capable of generating the necessary returns to achieve the targeted dividend. The Chairman has previously stated that it is “both achievable and desirable to maintain the dividend at the current level, even if it occasionally requires the use of capital” and in the fund’s recent annual results he re-iterated that it is the Board’s intention to maintain the aggregate annual dividend at 4.5p per share. n Convertibles provide the potential for participation in equity upside with the downside protection of a bond. JPMorgan Global Convertibles Income is largely invested in “bond like” and “balanced̶1; convertibles, which offer higher yields with lower equity sensitivity. It also makes good use of the closed-ended fund structure, which allows the managers to take advantage of smaller, less liquid investment opportunities. The portfolio’s duration is relatively short at only 3.3 years, mitigating a degree of interest rate risk. The equity optionality of convertibles could offset the detrimental impact of rising interest rates on bond valuations. Transparency has significantly improved since the fund’s launch with portfolio holdings now published on a monthly basis.
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07/7/2015
07:00		spacecake: Falling trust share price, discount to NAV, unknown holdings.
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12/9/2014
17:31		jonwig: A chase for income "at any price". Convertibles are supposed to be safer than equities on the downside, less upside push of course. I passed this over in favour of Calamos Convertible and High Income Fund [NASDAQ:CAL] ... 7% yield after US withholding tax, though it has gearing. This has done well in sterling terms, reasonably in dollars.
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01/9/2014
12:32		davebowler: Attractive income, cautious exposure to equities JPMorgan Global Convertibles Income has enjoyed a strong start to its life, having consistently traded at a premium to NAV and grown its market capitalisation to £183m. Convertible bonds have the potential to provide an attractive yield as well as an element of participation in equity upside, while also retaining some downside protection. The portfolio is generally focused on higher yielding convertibles and the fund’s structure allows the manager to take advantage of some of the universe’s smaller, less liquid investment opportunities. In our view, the fund benefits from JPMorgan’s significant resource and consequent access to new issuance. We therefore believe it represents an attractive option for investors seeking an above‐market yield combined with defensive exposure to equities. n JPMorgan Global Convertibles was launched in June 2013 when it raised £136m. It invests globally in convertible bonds and is managed by Antony Vallee, Global Head of Convertible Bonds at JPMorgan Asset Management. We believe the fund benefits from JPMorgan’s significant resource and access to new issuance. n Convertibles provide participation in equity upside with the downside protection of a bond. The fund is largely invested in “bond like” and “balanced convertibles”, which offer higher yields with lower equity sensitivity. However, small and mid‐cap companies in which the fund is invested are likely to have a higher beta to the wider market. In our view, the fund therefore represents an attractive option for investors seeking an above market yield with cautious exposure to equity markets. n The portfolio’s duration is relatively short at only 3.8 years, mitigating a degree of interest rate risk. The equity optionality of convertibles could offset the detrimental impact of rising interest rates on bond valuations. n The fund is unique within the UK listed closed‐ended fund universe. It also makes good use of the closed‐ended fund structure, which allows the manager to take advantage of smaller, less liquid investment opportunities. This is reflected in the portfolio’s average credit rating, with only 20% being investment grade. However, the weighting to smaller companies with higher yields also allows it to target a dividend of 4.5p per share in its first financial year. This prospective dividend yield of 4.0%, compares favourably to that of broader equity markets. *JPMorgan Global Convertibles Income Fund is a corporate broking client of Winterflood Securities
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12/3/2014
22:13		woodcutter: i hold a number of JPM IT's, have held some of them for years and done very well from those investments typically JESC, JUSC and MRC and a few others too. Currently looking at these and possibly top up of my JRS too. But these look a little expensive at this price 108p. Experience of new JPM IT's leads me to believe it will rise early on then come back to reality at some point, note JPB. This isn't the same risk perhaps but the principle is the same, only buyers early on as it gets recommended by IFA's etc. Perhaps a good share to hold when the inevitable correction comes, it's on my watch list. The quality grade is interesting, it's not without risk! Investment grade 14.3 % Sub-Investment grade 36.2 % Non Rated 49.5 % The non rated bonds may or may not be risky, perhaps the issuer isn't prepared to pay the cost to have them graded. Woody
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04/9/2013
12:32		40t: Useful summary in the IC, just out, covering JGCI and others - quoting 7.4% p.a. average (UBS Global Convertibles Index) from 1994 to 2012 compared with 5.3% on the MSCI World index.
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24/7/2013
14:50		wirralowl: Premium narrowing, as NAV rises to 98.59p and price falls a little. Getting more interesting now, may be tempted to put some in my SIPP or ISA shortly (can currently buy at 102.68p).
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23/6/2013
08:48		jonwig: Interesting that the daily NAV statements include: "THE CAPITAL ONLY NET ASSET VALUE PER SHARE IN PENCE, WITH DEBT AT PAR VALUE." So the numbers are clean of accrued income. By "debt" they don't mean any they've taken on as gearing, as this is zero according to the Edison note, so I presume they've invested in short-term bonds (where accounting rules allow them to value at par) as they build up the convertibles portfolio. Anyway, the first few weeks read: 11/06 ... 98.14p 18/06 ... 98.01p 25/06 ... 96.47p The premium is getting noticeable! Will NAV volatility stay low as they become more fully invested? EDIT: fall in NAV might itself lower the premium?
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