JPMorgan Indian Investment Trust

Termination of Coverage

6 January 2015

Edison Investment Research is terminating coverage on JPMorgan Indian Investment Trust (JII). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. MORE »

Indian specialist backs cyclical recovery

20 October 2014

JPMorgan Indian Investment Trust (JII) has performed strongly over the past six months, as a landslide election victory for pro-reform Narendra Modi of the BJP sparked a major reappraisal of the stock market. The trust seeks capital growth from a portfolio of companies chosen for their quality, value and growth characteristics. The managers take a long-term view and made an early move into cyclical stocks, which hurt performance during the ‘taper tantrum’ in mid-2013, but has helped drive returns since the turn of the year. A move down the capitalisation spectrum has seen turnover tick up, but it remains within a long-term range below 40%. The discount – although above 10% – is around average levels, perhaps reflecting greater caution towards single-country funds. MORE »

Appealing valuations in long-term growth market

6 January 2014

JPMorgan Indian Investment Trust (JII) seeks long-term capital appreciation through investments in India or in companies that earn a material part of their revenues in India. There is the potential for further volatility in the market and the rupee ahead of, and immediately after the national election in April/May 2014. However, valuations are reasonable by historical standards and are now at noticeably more attractive levels on an international comparison. Potential investors should weigh near-term uncertainty against appealing long-term growth potential and the risk of missing a further sharp rally. MORE »

Conservatively-managed play on a growth market

3 June 2013

JPMorgan Indian Investment Trust (JII) seeks long-term capital appreciation through investments in India or in companies that earn a material part of their revenues in India. An Indian fund, such as JII, provides focused, managed exposure to a major developing market where prospective economic growth is expected to be three times the rate of advanced economies (see Indian market outlook, page three). There are challenges and risks in India but growth forecasts have already been tempered and, on the corporate front, there are signs that earnings estimates are bottoming out. Coupled with market valuation measures that look reasonable in a world context and compared with historical levels (page 5), there are grounds for seeing this as a favourable entry point on a three- to five-year view. JII’s long-term performance record against its benchmark (MSCI India Index in sterling terms) is strong and more recently it has performed close to the index (page nine). MORE »