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JPMorgan Emerging Markets Investment Trust PLC - FTSE250-listed investment trust - Cites lower inflation in some emerging economies compared to Western economies as reason for optimism as net asset value falls. Net asset value per share at June 30 falls 18% to 117.0 pence from 143.0p a year ago. Total return of portfolio is negative 17%, underperforming against its benchmark, MSCI Emerging Markets index, which returned negative 15%.
Looking ahead, firm says: ‘A global environment of higher inflation and interest rates together with geopolitical concerns will continue to pose challenges for world stockmarkets. However, it is encouraging that inflationary pressures are less extreme in many emerging economies than in a number of Western countries and preemptive interest rate rises have meant that further rises are likely to be more subdued than in the developed world.’
Declares total dividend of 1.35p per share for financial year ended June 30, unchanged.
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