​JPMorgan Japanese Investment Trust - Annual Overview from QuotedData

29^th October 2024

Conviction drives returns

Having delivered impressive returns through 2023, Japanese markets have continued to rise this year, although it has not been entirely smooth sailing for the world's third-largest economy. A tumbling currency and a 41-year high for inflation set the stage for successive interest rate hikes for the first time in almost two decades. The second of these sent ripples through the stock market, contributing to a historic sell-off for Japanese equities. The recent volatility has been particularly harrowing for yen-sensitive exporters (which benefit from a falling currency), which include some of Japan's largest companies. Positively, JPMorgan Japanese Investment Trust (JFJ) has very limited exposure to these sectors of the market, focusing instead on high-quality growth stocks that stand to benefit from the structural changes occurring across the economy.

This strategy has led to a period of solid outperformance for JFJ's shares and has continued to deliver impressive fundamental results, with strong earnings and revenue growth witnessed across the portfolio. It remains early days in Japan's recovery; however, developments over the past year are increasingly encouraging and, for a newly-enlarged JFJ following the announced combination with Japan Small Cap Growth & Income, which is due to complete on 24 October 2024 subject to receipt of final approval from JGSI's shareholders, should provide the foundation for a period of long-term growth.

Full Research:

https://quoteddata.com/research/jpmorgan-japanese-investment-trust-conviction-drives-returns-qd/

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NB: Marten & Co was paid to produce this note on JPMorgan Japanese Investment Trust Plc, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.

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