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ii Super 60 - JPMorgan European Income IT

ii Super 60 investments:
JPMorgan European Income IT

Asset Group Asset Sub-Group Investment Category
Equities European equities Income

Selection rationale:
JPMorgan European trust is unusual as it has two portfolios of assets. One is income-oriented and the other is designed to produce capital growth. Shareholders in either of the two portfolios are able to convert some or all of their shares into the other on an annual basis without incurring any liability to capital gains tax.

The trust has been run since 2006 by Stephen Macklow­Smith, Alexander Fitzalan Howard and Michael Barakos, and they were joined by Thomas Buckingham in 2016. The managers choose stocks from a list of companies with the highest yields that have been screened for sustainability of dividends and momentum characteristics. They invest mainly in larger companies but the portfolio also holds some medium-sized businesses.

They point to valuations that have become more attractive with last year’s falls in stock prices.

When they take into account the growth in company earnings and dividends that they expect during 2019 then this year’s basis for valuations looks even more attractive.

With the European Central Bank still pursuing loose monetary policy and consumer confidence high across the continent, they are confident that stronger company earnings can propel equity markets higher.

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The information we provide in the Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. None of the opinions provided are a “personal recommendation”, therefore you should ensure that any investment decisions you make are suitable for your personal circumstances. Past performance of the underlying constituents is not a guarantee of future performance. Remember, the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.

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.