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Edison review on JPMorgan European Smaller Cos

24 May 2016 15:42

Edison has issued a research review on JPMorgan European Smaller Cos.

It says: "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 over 20 years has outperformed its nearest peer by 410pp.

"Despite a recent widening in JESC's share price discount to cum-income NAV, the discount has been in a narrowing range on both a medium- and long-term basis. The current discount of 12.0% compares to an average of 9.0% over the last 12 months (range of 3.2% to 14.5%). This is narrower than the averages of the last three, five and 10 years of 11.3%, 13.0% and 14.8% respectively. The smaller average discount, despite global stock market volatility over the last year, could imply investor demand for the growth potential of European smaller companies."

The full report is available at: http://www.edisoninvestmentresearch.com/research/report/jpmorgan-european-smaller-cos2/preview/?utm_source=edison&utm_medium=rns_reach&utm_campaign=jpmorganeuro_2240516

At 3:42pm: (LON:JESC) JPMorgan European Smaller Companies Trust PLC share price was +1.75p at 269p

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Related Company: JESC

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