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Interim Results

JPMorgan Global Convertibles NAV falls

17 March 2016 15:04

The total return on JPMorgan Global Convertibles Income Fund's net assets fell by 3.4% in the six months to the end of December. The total return to shareholders was -7.8% due to the fact that the share price underperformed the net asset value.

Chairman Simon Miller said: "This was, of course, disappointing but perhaps is understandable given the challenges faced from a falling and volatile market.

"Whilst performance of the Company's net assets was stronger than the broader convertibles market, the concurrence of declines in equity markets and the widening of credit spreads meant that the strategy did not exhibit as much of a defensive profile as we would have hoped for."

At 3:04pm: (LON:JGCI) JPMorganGlobal ConvertiblesINC FD share price was -0.5p at 89.5p

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