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ii Super 60 - JPMorgan Emerging Markets IT

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ii Super 60 investments:
JPMorgan Emerging Markets IT

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Asset Group Asset Sub-Group Investment Category
Equities Emerging Markets Core

Selection rationale:
JP Morgan Emerging Markets is one of the largest global emerging market trusts and the top performer in its sector over the short and long term. 

Experienced emerging markets investor Austin Forey has run the trust since 1994. He buys well-managed companies at sensible prices and has a strong record in selecting mid and larger sized companies. He takes a long-term approach and focuses on businesses that have attractive earnings, strong balance sheets, excess returns on capital, sustainable competitive advantages, an ability to grow market share and potential to generate significant shareholder value.

Forey typically has a bias towards domestic consumption growth and the portfolio tends to be dominated by financials (33% at the end of 2019) and consumer staples (18%). The trust’s second-largest sector weighting, at just over 18%, is information technology. Chinese internet group Tencent and its tech peer Alibaba, the e-commerce group, are significant holdings for this trust.

The board of JP Morgan Emerging Markets tends to defend a 10% discount; the discount has ranged from 6% to 15% over the past three years. This is in line with the wider sector, where the average discount currently is 8%.

January 2020

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Risk warnings

Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. 

Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab. 

The information we provide in the ii Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. Please note that none of the opinions we provide are a “personal recommendation”, which means that we have not assessed your investing knowledge and experience, your financial situation or your investment objectives. Therefore you should ensure that any investment decisions you make are suitable for your personal circumstances.

If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor. 

Any changes to the ii Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.

Details of all recommendations issued by ii during the previous 12 month period can be found here.

ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii Super 60 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.

In addition, staff involved in the production of this ii Super 60 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii Super 60 investments list.