Following poor final results including a 38.4% decline in its share price, JPMorgan Mid Cap investment trust’s managers have commented on the portfolio’s performance and what they could have done differently.
In the final results for year end 30 September 2022, the £185m trust's chair John Evans said the "very disappointing share price total return" for the year to 30 June 2022 was a result of a combination of a "general derating of growth stocks" and general concerns about the trading outlook for consumer stocks. This also led to a fall in JMF's net asset value of 30.4%, almost double that of the negative 16% return from its FTSE 250 benchmark. Meanwhile, the trust's discount widened over the 12 months from 2.1% to 13.6%. UK could face pensions crisis warns new financial inclusion index ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
