QuotedData Retail - JPMorgan Russian Secs (JRS) Low valuations and rising yields

Report

QuotedData Retail

James Carthew

Low valuations and rising yields

Weak oil prices and a deteriorating relationship with the US have weighed on the Russian market for some time. Hopes of a rapprochement with the West in the wake of President Trump’s election have fizzled out. Russia is adjusting to the environment it finds itself in and earnings growth is starting to materialise. Falling inflation has highlighted excessive real interest rates, leaving scope for further interest rate cuts. Investors have been avoiding Russia and this is evident in a
price/forecast earnings ratio for the market close to 5x and a prospective dividend yield of 7% (as at end July 2017). JRS offers investors a more balanced portfolio than an equivalent ETF and one that draws on the wider pool of stocks that are not
constituents of the main indices (see page 9). This gives it the freedom to perform and it is available on an attractive discount.

27/09/2017 1 EN

Underlying

JPMorgan Russian Secs

JPMorgan Russian Securities is an investment trust based in the United Kingdom. Co. is engaged in providing capital growth from investment in Russian securities. Co. maintains a diversified portfolio of investments in quoted Russian securities and Russian pre-IPO stocks (up to 10% of the gross assets of Co.) or other companies which derive the majority of their revenue or gains from operating in Russia.

See profile

GB0032164732 London Stock Exchange United Kingdom

Provider

QuotedData Retail

QuotedData you with provides access to research on Investment Companies, Investment Trusts and Mining companies. Our aim is to provide you all the information you might need to make your own investment decisions. We cannot offer you advice on your investments.

See profile

Analysts

James Carthew

Other Reports on these Companies

SmartInsider

JP Morgan Russian Securities: 1 director

A director at JP Morgan Russian Securities bought 5,000 shares at 620p and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The name...

Free Trial

January 26, 2022 January 26, 2022 1 EN

QuotedData Professional

Outperforming and attractively valued

Since we last wrote on JPMorgan Russian Securities (JRS), Russia has been among the best-performing equity markets globally, despite being out of favour with international investors. The RTS Index has climbed above its 2014 pre-Crimea levels, before sanctions were imposed. Although economic growth has disappointed in 2019, earnings and pay-out ratios continue to grow. At a trailing price-earnings (P/E) ratio of just 6x, the Russian market remains extremely cheap.

September 13, 2019 September 13, 2019 1 EN

QuotedData Professional

Expert access to attractively valued market

When we last wrote on JPMorgan Russian Securities (JRS), we drew attention to Russia’s deteriorating relationship with the west and how this had impacted on foreign investors’ attitudes towards Russian stocks. Since this time, while sentiment has worsened; Russia’s domestically focused economy appears resilient and its corporates are generally providing good earnings growth. Valuations and yields are therefore all the more attractive. Russia’s economy benefitted for much of 2018 from a recovery in the oil price and rising prices for a range of other commodities. A weaker rouble has offset the ...

January 22, 2019 January 22, 2019 15 EN

QuotedData’s Economic and Political Monthly Roundup – September 2024

As inflation recedes across the bulk of the world’s developed economies, all eyes turn to the path of interest rates and the speed with which these come down in the coming months. Several major central banks have already cut their interest rate, including the Bank of England (BoE) which reduced its base rate to 5% on 5 August, the first reduction in over four years. While markets generally view these cuts as a positive, it’s important to consider the fundamentals driving these decisions. In the context of the UK, falling inflation and better than expected growth has allowed the BoE a degree...

September 10, 2024 September 10, 2024 32 EN

David Johnson

David Johnson

QuotedData’s Investment Companies Roundup – September 2024

Interest rates were the driving force behind markets in August, with the Bank of England finally making its first interest rate cut since it began its hiking cycle in January 2022. In their August meeting, the Bank of England elected to cut rates by 0.25% to 5.0%. And while the US is yet to cut interest rates, Jerome Powell made a formal comment that interest rate cuts were ‘on the cards’. Though the move may be relatively small, it represents a clear shift in direction with interest rate-sensitive assets rallying in response. August also saw the AI story finally begin to lose some of its stea...

September 10, 2024 September 10, 2024 15 EN

Richard Williams

Richard Williams

QuotedData’s Real Estate Monthly Roundup – September 2024

The customary summer lull in activity in the real estate sector was evident during August, with news flow at a trickle. This was mirrored in share prices, with the average movement over the month of +0.3%. Once again corporate activity was the main driver behind the largest share price outlier, this month PRS REIT. Its share price bounced at the end of the month as shareholders requisitioned the board calling for two directors, including the chairman, to be replaced (see page 3 for more details). The share price of Triple Point Social Housing REIT responded positively to its board’s announceme...

September 10, 2024 September 10, 2024 12 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN