JPMorgan Asia Growth & Income (JAGI) offers a combination of a growthoriented portfolio and a dividend of 1% of NAV per quarter, paid largely from capital. Paying from capital allows the managers to focus on finding the best total return prospects rather than looking for yield, and means the trust can invest more in high growth sectors and companies than one paying a natural yield. As we discuss in the performance section, JAGI is the top-performing Asian income trust over five years (although i
Companies: JPMorgan Asia Growth & Income PLC GBP
JPMorgan Asia Growth & Income (JAGI) offers a combination of a growthoriented total-return approach and a substantial dividend of 1% of NAV per quarter, paid largely from capital. JAGI was renamed in February of this year, having been known previously as JPMorgan Asian. In NAV total-return terms JAGI is the top-performing Asian income trust over five years, (see Performance section). Its success is built on the bottom-up research of a team of almost 40 analysts based across Asia; an investment p
This spring the Association of Investment Companies (AIC) overhauled its sector classifications, adding 13 new sectors and renaming 15 others. This decision was made in an attempt to more accurately reflect the shape of the industry, and help offer investors greater clarity when comparing peers. Several of the changes came in the alternative asset spaces and these are very welcome. Alternative assets have been an area of increased popularity in recent years, making a rationalisation of the secto
Companies: ATR PAC JAGI KKVL VSL
Since the start of 2018, investors in Asian equities have had a torrid time, with the region underperforming global stock markets. Perhaps reassuringly for investors, the drivers of this underperformance have not been economic fundamentals but more unpredictable factors, which are external to the economies and markets of the region – namely, the ongoing trade dispute between the US and China, and expectations for the US federal funds rate (the global economy’s risk-free rate). However, this does
Companies: IAT JAGI SST PAC ATR BRFI
JPMorgan Asian aims to produce long-term total returns by using its extensive research capacity in Asia to generate alpha from stock-picking. The managers, Ayaz Ebrahim, Richard Titherington and Robert Lloyd, believe that it is earnings growth and dividends which determine returns in the long run, and so the process is heavy on fundamental research and designed to look through macro-economic issues to the potential in the stocks below. The process has been proven to work in recent years, with t
Today, we introduce our investment trust ratings. According to the quantitative screens we have selected in an attempt to highlight the best performers in the closed-ended universe, the trusts discussed here have been the best in their classes over the last five years. We have selected trusts using two different sets of criteria, aiming to identify the top performers for capital growth and for achieving a high and growing income. There are many rating systems for open-ended funds, but no quantit
Companies: IPU FAS ATR JEO FEV FGT THRG SEC PAC BRSC IAT HNE MIGO TRY JMG DIVI SLS BGS SDP JETG SOI BCI MRC TIGT EDIN JAGI BEMO SDV BRIG AAIF HFEL SCF MAVT BRFI IVPG CTY HINT JCH NAIT
BlackRock World Mining Trust | Invesco Income Growth Trust | Perpetual Income & Growth IT | BlackRock Energy and Resources Income Trust | Scottish Oriental Smaller Companies | JPMorgan Asian
Companies: BRWM IVI PLI SST BERI JAGI
JPMorgan Asian seeks to outperform the MSCI Asia ex Japan benchmark and owns a portfolio made up of the best ideas backed by insights from a large proprietary research team. Country-level valuations are used to guide the PMs to shorter term tilts or where they look for ideas, but the main driver of return is stock selection rather than industry or country bets. Returns have been strong since J.P.Morgan combined its Emerging Markets and Asia Pacific teams and standardised its research process, wi
Emerging markets remain a highly attractive place to invest for the longer term, despite the difficult period for the region this year. We do not believe that the current travails amount to a broad-based crisis in the region. In fact, many of the recent headlines surrounding emerging markets are irrelevant to long-term investor as they are focused on small and insignificant markets. We believe the index has done poorly mainly thanks to specific issues with individual countries and regions rather
Companies: JAGI DGN SDP EMF BEMO
Research Tree provides access to ongoing research coverage, media content and regulatory news on JPMorgan Asia Growth & Income PLC GBP.
We currently have 39 research reports from 4
The quarter enjoyed the ongoing recovery in revenue margins and net provision releases further boosted by a portion of the announced tax gains. The question is not at what pace profitability will recover but instead at what pace will it normalise? In the meantime, the group is accumulating excess capital that will be returned to shareholders.
Companies: Lloyds Banking Group plc
Legal & General’s performance in its H1 21 release came with a certain satisfaction. Most of it is attributable to an improving rates environment and strong performances, finally, from LGC and LGI.
Companies: Legal & General Group Plc
Duke has announced its third new royalty partner since April's placing, with a C$8.3m (£4.8m) agreement with Creō-tech Industrial Group Inc (“Creō-tech”). This scheduled new partner is another buy & build platform, with follow-on deployments expected. It represents Duke's 12th current royalty partner and its first in North America, adding diversity in number and geography. This should further add to the anticipated step-up in quarterly cash revenues from Q2/22, after Q1/22's £2.9m record.
Companies: Duke Royalty Limited
Q2 progress very much followed the trend of Trident continuing to build the foundations of what we believe can be a leading diversified royalty company. Some exciting asset level progress which should materially bolster future royalty revenue potential and some top-notch additions to the Board. With $8m cash in the bank and the $10m Tribeca loan facility finalised and drawn-down, TRR is well placed to secure further value accretive royalty acquisitions
Companies: Trident Royalties Plc
TPFG has delivered an impressive H1/21E trading update, confirming a doubling of interim revenues. The result reflects a buoyant sales market and only a partial contribution from sales-focused Hunters, whose March 2021 purchase looks astute. Given sales pipelines remain robust (set to convert largely over H2/21E); the 73k managed properties continue to provide a high degree of recurring & transactional income; and Ewemove continues to scale quickly, we view the outlook positively. Despite the sh
Companies: Property Franchise Group PLC
The quarter enjoyed stronger-than-expected provision releases and a partial reversal of the first quarter negative equity adjustments, whereas the DTA remeasurement offset ongoing restructuring charges.
Companies: Barclays PLC
The quarter enjoyed accelerated provision releases. The improved visibility on the group’s mid-term perspectives enabled management to increase its capital distribution plan over the next three years.
Companies: NatWest Group Plc
Ground Rents Income Fund (GRIO) has today released its Interim Results for the period ending 31 March 2021. The NAV fell by 1.1% to £101.4m (104.5 pps). Dividends of 1.98p have been paid over the six month period, but going forward the Board have announced that they will be reducing the annual dividend target to 3.0pps and expect the dividend to be fully covered by the year ending 30 Sep 2022. At the AGM in March, shareholders approved the authority for the Company to purchase up to 14.99% of it
Companies: Ground Rents Income Fund PLC
L&G reported an operating profit from continuing divisions (excluding Mature Savings and General Insurance businesses) of £1,128m, -2.2% yoy. The COVID-19-related cost was £129m. LGR posted a growing operating profit to £721m. Net profit amounted to £290m vs. £874m a year before, being affected by the reduced discount rate used to calculate LGI reserves. The Solvency II ratio stood at 173%. The Board recommended an interim dividend of 4.93p/share, stable relative to H1 19.
The quarter enjoyed further net provision releases whereas the pre-provision performance came in line with our expectations. The group is on track to meet its mid-term financial objectives.
Companies: HSBC Holdings Plc
Trident Royalties Plc (AIM: TRR) has, this morning, provided an update on its activities undertaken during the quarter ended 30 June 2021. The key elements of the announcement are:
Significant progress across a number of projects over which Trident holds royalties.
Total quarterly royalty revenue of US$381,808 from two paying royalties over copper and iron ore assets.
The appointment of Mr Paul Smith as Non-Executive Chair alongside a personal investment of £1 million at 40p as well as the ad
Altus Strategies* (ALS LN) – BUY, Target 118p – New addition to the team to manage Egyptian portfolio of assets
BHP (BHP LN) – Main workers union at Escondida rejects company offer
Newcrest Mining Ltd (NCM AU) – Additional targets close to Havieron
Piedmont Lithium (PLL AU) – Delays predicted supply timeline for Tesla deal
PureGold Mining (PUR LN) – PureGold reaches commercial production
URU Metals* (URU LN) – Zebediela project sale completed
Companies: PGM ALS BHP URU NCM PLL
Agronomics is an investment company, making selective investments in early-stage alternative protein companies. We believe the combination of the conservative approach to calculating a reported net asset value (NAV) and growing interest in the broader alternative protein and cultured meat opportunities has resulted in Agronomics' shares trading at a c320% premium to its latest reported NAV per share value. Our analysis suggests that not only can this premium be justified but that upside exists b
Companies: Agronomics Limited
What a difference a year makes - 12 months ago, the focus, quite understandably, was on the course of the pandemic and the lifting of the Lockdown (1) measures. For investors, it was the sustainability of the rally in markets seen since March 2020. Today, while we are still thinking about the lifting of lockdown measures, we are also concerned about two “old favourites” from previous decades. Inflation and the parlous state of public finances. The BoE has said that although CPI inflation rose to
Companies: AEMC BVC BAG BRSD BWNG CBOX CEG CTG CLG CML CRPR DNK EML ESC FAR FA/ GPH INSE MTW MOTR MMAG NRR NESF NMCN NSF OTMP OBD SAVE SCS STVG SNX SYS TMG TGL VLS VOG WYN
Companies: Oakley Capital Investments