reports
- Pedro Fonseca
JPMorgan European Discovery Trust - A balanced trust targeting a world...
JPMorgan European Discovery Trust (JEDT) invests in European small-cap companies (excluding UK), with the aim of providing shareholders with long term capital growth. The investment case for this sector is clear and simple. European small caps have outperformed most other markets over the long term. JEDT’s disappointing performance during H122 prompted its managers to rotate out of high-growth IT software and medtech stocks, in favour of a more balanced approach focused on quality and value name...
- Pedro Fonseca
JPMorgan European Discovery Trust - Becoming more stylistically balanc...
JPMorgan European Discovery Trust (JEDT) specialises in continental European small and mid-caps. The strength of the strategy is that while it is actively managed, it is also stylistically more balanced than many funds in the sector and of late there has been a nuanced move to more ‘core’ and ‘value’ holdings and a reduction in ‘growth’ stocks. Performance over the year to the end of June 2022 was weaker than the index, but slightly ahead of the AIC European smaller companies peer group. This wa...
Edison Investment Research Limited: JPMorgan European Discovery Trust ...
Edison Investment Research Limited Edison Investment Research Limited: JPMorgan European Discovery Trust (JEDT) - Initiation: A core option within a niche market 15-March-2022 / 07:00 GMT/BST London, UK, 15 March 2022 JPMorgan European Discovery Trust (JEDT) - Initiation: A core option within a niche market JPMorgan European Discovery Trust (JEDT) aims to generate long-term capital growth from a portfolio of high-quality, reasonably valued, smaller European equities. The scale of opportunities in a relatively inefficient market gives active managers an excellent opportunit...
- Pedro Fonseca
JPMorgan European Discovery Trust - A core option within a niche marke...
JPMorgan European Discovery Trust (JEDT) aims to generate long-term capital growth from a portfolio of high-quality, reasonably valued, smaller European equities. The scale of opportunities in a relatively inefficient market gives active managers an excellent opportunity set for outperforming and delivering good long-term investor returns, and JEDT has a strong long-term investment track record but has been a little more challenged of late. The trust currently offers a 1.7% dividend yield.
- Mel Jenner
JPMorgan European Smaller Companies Trust - Building on long-term posi...
JPMorgan European Smaller Companies Trust (JESC) aims to generate long-term capital growth from a portfolio of high-quality, reasonably valued, small-cap European equities. While the European stock market, in keeping with global markets, has been more volatile year to date compared with the abnormally low levels of volatility in 2017, the managers believe that there is potential for further upside. They cite an improving European and global economy, low inflation and a benign interest rate envir...
- Mel Jenner
JPMorgan European Smaller Companies Trust - Very strong performance tr...
JPMorgan European Smaller Companies Trust (JESC) was launched in 1990 and aims to generate long-term capital growth from a diversified portfolio of small-cap European equities. The investment process involves screening the c 1,500 company universe to construct a relatively concentrated portfolio of 50-75 positions in firms with positive fundamentals and reasonable valuations. JESC has a very good investment track record, outperforming its benchmark over one, three, five and 10 years. It has als...
- Mel Jenner
Finding exciting investment opportunities
JPMorgan European Smaller Companies Trust (JESC) aims to generate long-term capital growth from a portfolio of European (ex-UK) small-cap equities. Despite a period of underperformance versus the Euromoney Smaller Europe ex-UK benchmark in 2016 due to conservative portfolio positioning, JESC’s longer-term performance record remains intact. It has outperformed the benchmark over three, five and 10 years. The managers believe that the European economic backdrop is favourable, political risk has be...
- Sarah Godfrey
Strong continuity of management
JPMorgan European Smaller Companies Trust (JESC) is managed by a dedicated, highly experienced, three-man team. The ‘best ideas’ portfolio, which generally comprises 60-80 holdings, currently numbers 63. Stocks are selected on a bottom-up basis from a universe of c 1,000 companies, which constitute the Euromoney Smaller Companies ex-UK index, the trust’s benchmark. Long-term performance has been strong, as evidenced by its 10- and 20-year NAV and share price returns, which comfortably outstrip t...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Review: Long-term outperformance versus benchmark
JPMorgan European Smaller Companies Trust (JESC) is a relatively concentrated portfolio of 60-80 stocks offering the potential for capital growth. The fund has well-established managers: Jim Campbell since 1995 and Franceso Conte since 1998, who draw on their experience to select high-quality companies with strong management teams, with positive stock price and earnings momentum, that they perceive to be undervalued. JESC has outperformed its benchmark over both short- and long-term periods and ...
Review: Ready for the next 25 years
JPMorgan European Smaller Companies Trust (JESC) has a 25-year track record of seeking capital appreciation by investing in smaller Continental European companies. The managers note that the sector competes for investor attention against other high-growth areas such as emerging markets, and the recent sell-off in Asia could underpin investor demand, a trend suggested by the historically low level of discount. Performance has been strong versus the benchmark over both short and longer periods, wi...
Review: A more focused approach to small-cap Europe
JPMorgan European Smaller Companies Trust (JESC) is a long-established European small- and mid-cap specialist with a stable management team. It aims to achieve capital growth by picking the winners from a broad but under-researched universe of c 1,000 stocks. Sector and country weights are mainly a result of stock selection but there is currently an overweight to technology and France compared with the index. Long-term performance has been impressive (+1,227% over 20 years), although a recent se...
Review: Holding steady for next leg of small-cap bull run
JPMorgan European Smaller Companies Trust (JESC) aims to achieve capital growth by investing in smaller companies in continental Europe. Actively managed with a bottom-up approach, the managers are currently positioned with a bias towards stocks that will benefit from economic recovery. In spite of a strong record of both absolute and relative performance, the trust's shares remain on a discount of more than 10%. A five-for-one stock split has been proposed to facilitate investment through platf...
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