JPMorgan Emerging Markets Class B Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 31/03/19 to 31/03/20 |
31/03/20 to 31/03/21 |
31/03/21 to 31/03/22 |
31/03/22 to 31/03/23 |
31/03/23 to 31/03/24 |
|
|---|---|---|---|---|---|
| Fund | -6.6% | 50.9% | -17.5% | -3.6% | 3.1% |
| Sector | -15.4% | 46.8% | -8.7% | -4.4% | 6.0% |
| Rank | 10/128 | 65/137 | 127/148 | 38/157 | 121/164 |
| Quartile | 1 | 2 | 4 | 1 | 3 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | -6.4% | 2.9% | 6.8% | |
| Sector | -2.5% | 2.8% | 5.4% | |
| Rank | 111/148 | 59/128 | 28/91 | |
| Quartile | 3 | 2 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 8.89 |
| SAMSUNG ELECTRONICS CO. LTD | 5.86 |
| TENCENT HOLDINGS LIMITED | 4.55 |
| NU HOLDINGS | 3.23 |
| MERCADOLIBRE | 2.58 |
| AIA GROUP LIMITED | 2.45 |
| HDFC BANK LIMITED | 2.40 |
| BANCO BILBAO VIZCAYA ARGENTARIA S.A. | 2.36 |
| KIA MOTORS CORP | 2.25 |
| SK HYNIX INC | 2.24 |
| Total | 36.82 |
Fund Aims
To provide long term capital growth by investing primarily in equity and equity-linked securities of emerging markets companies.
Other instruments as permitted in the stated investment and borrowing powers of the Company including, but not limited to, fixed interest securities, cash and cash equivalents may be held on an ancillary basis, as appropriate.
Fund Manager
Leon Eidelman, managing director, is a portfolio manager within the Emerging Markets and Asia Pacific (EMAP) Equities team based in New York. An employee since 2002, Leon is a member of the group of global emerging markets portfolio managers responsible for the fundamental, bottom-up portfolios, including the GEM Discovery and GEM Focused strategies. He is lead manager of the GEM Discovery strategy and is a portfolio manager on the GEM Focused strategy. Leon holds a B.A. in Economics with a concentration in Finance from Cornell University and is a CFA Charterholder.
Austin Forey, managing director, is a portfolio manager for the Global Emerging Markets (GEM) Focused strategy within the Emerging Markets and Asia Pacific (EMAP) Equities team based in London. An employee since 1988, Austin has fulfilled his role as a GEM portfolio manager since 1994. Prior to this he worked in the U.K. team, where he was deputy head of U.K. research. Before this, Austin worked as a research analyst covering engineering, and subsequently all financial sectors, including property; his other responsibilities included the co-management of a mid-cap investment trust, and two specialist unit trusts. Austin obtained a B.A. in Modern Languages from Cambridge University, and earned a Ph.D. in Modern Languages from Cambridge University.
Fund Overview
| Mid (26/04/2024) | 364.10p |
| Historic yield | 0.72% |
| Fund size (29/02/2024) | £2229.95m |
| Number of holdings | 183 |
| Entry Charge | 0.00% |
| Ongoing Charges | 1.08% |
| Launch date | 03/12/2008 |
Asset Allocation
| International Equities | 95.56% | |
| Alternative Trading Strategies | 0.08% | |
| Money Market | 0.02% | |
| International Bonds | 0.02% | |
| UK Corporate Bonds | 0.00% | |
| Cash and Equivalents | -0.01% | |
| Other Assets | 4.33% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 95.56% | |
| Alternative Trading Strategies | 0.08% | |
| Money Market | 0.02% | |
| International Bonds | 0.02% | |
| UK Corporate Bonds | 0.00% | |
| Cash and Equivalents | -0.01% | |
| Other Assets | 4.33% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Technology | 24.30% | - | - | - | |
| Technology | - | 24.30% | - | - | |
| Technology Hardware & Equipment | - | - | 15.25% | - | |
| Semiconductors | - | - | - | 15.25% | |
| Software & Computer Services | - | - | 9.05% | - | |
| Consumer Digital Services | - | - | - | 4.55% | |
| Computer Services | - | - | - | 4.51% | |
| Financials | 23.78% | - | - | - | |
| Banks | - | 16.27% | - | - | |
| Banks | - | - | 16.27% | - | |
| Banks | - | - | - | 16.27% | |
| Financial Services | - | 4.48% | - | - | |
| Finance & Credit Services | - | - | 4.48% | - | |
| Consumer Lending | - | - | - | 4.48% | |
| Insurance | - | 3.02% | - | - | |
| Life Insurance | - | - | 3.02% | - | |
| Life Insurance | - | - | - | 3.02% | |
| Consumer Discretionary | 19.22% | - | - | - | |
| Consumer Products & Services | - | 7.42% | - | - | |
| Consumer Services | - | - | 2.58% | - | |
| Consumer Services: Misc. | - | - | - | 2.58% | |
| Leisure Goods | - | - | 1.82% | - | |
| Electronic Entertainment | - | - | - | 1.82% | |
| Personal Goods | - | - | 1.75% | - | |
| Clothing & Accessories | - | - | - | 0.95% | |
| Cosmetics | - | - | - | 0.81% | |
| Household Goods & Home Construction | - | - | 1.27% | - | |
| Household Appliance | - | - | - | 1.27% | |
| Travel & Leisure | - | 6.00% | - | - | |
| Travel & Leisure | - | - | 6.00% | - | |
| Restaurants & Bars | - | - | - | 1.71% | |
| Casinos & Gambling | - | - | - | 1.70% | |
| Hotels & Motels | - | - | - | 1.31% | |
| Airlines | - | - | - | 1.27% | |
| Retail | - | 3.55% | - | - | |
| Retailers | - | - | 3.55% | - | |
| Diversified Retailers | - | - | - | 3.55% | |
| Automobiles & Parts | - | 2.25% | - | - | |
| Automobiles & Parts | - | - | 2.25% | - | |
| Automobiles | - | - | - | 2.25% | |
| Consumer Staples | 8.98% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 6.71% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 6.71% | - | |
| Food Retailers & Wholesalers | - | - | - | 4.53% | |
| Drug Retailers | - | - | - | 1.15% | |
| Personal Products | - | - | - | 1.04% | |
| Food, Beverage & Tobacco | - | 2.26% | - | - | |
| Beverages | - | - | 1.58% | - | |
| Soft Drinks | - | - | - | 1.16% | |
| Brewers | - | - | - | 0.41% | |
| Food Producers | - | - | 0.69% | - | |
| Food Products | - | - | - | 0.69% | |
| Industrials | 7.58% | - | - | - | |
| Industrial Goods & Services | - | 6.37% | - | - | |
| Industrial Engineering | - | - | 3.33% | - | |
| Machinery: Industrial | - | - | - | 2.17% | |
| Machinery: Tools | - | - | - | 1.16% | |
| General Industrials | - | - | 1.45% | - | |
| Glass | - | - | - | 0.80% | |
| Paints & Coatings | - | - | - | 0.65% | |
| Electronic & Electrical Equipment | - | - | 0.98% | - | |
| Electrical Components | - | - | - | 0.98% | |
| Aerospace & Defence | - | - | 0.61% | - | |
| Defense | - | - | - | 0.61% | |
| Construction & Materials | - | 1.20% | - | - | |
| Construction & Materials | - | - | 1.20% | - | |
| Cement | - | - | - | 1.20% | |
| Telecommunications | 7.31% | - | - | - | |
| Telecommunications | - | 7.31% | - | - | |
| Telecommunications Equipment | - | - | 5.86% | - | |
| Telecommunications Equipment | - | - | - | 5.86% | |
| Telecommunications Service Providers | - | - | 1.44% | - | |
| Telecommunications Services | - | - | - | 1.44% | |
| Non-Classified | 4.33% | - | - | - | |
| Health Care | 2.22% | - | - | - | |
| Health Care | - | 2.22% | - | - | |
| Medical Equipment & Services | - | - | 1.63% | - | |
| Medical Equipment | - | - | - | 1.63% | |
| Health Care Providers | - | - | 0.58% | - | |
| Health Care Facilities | - | - | - | 0.58% | |
| Energy | 1.36% | - | - | - | |
| Energy | - | 1.36% | - | - | |
| Non-Renewable Energy | - | - | 1.36% | - | |
| Integrated Oil & Gas | - | - | - | 1.36% | |
| Basic Materials | 0.82% | - | - | - | |
| Basic Resources | - | 0.82% | - | - | |
| Industrial Metals & Mining | - | - | 0.82% | - | |
| Nonferrous Metals | - | - | - | 0.82% | |
| Alternative Trading Strategies | 0.08% | - | - | - | |
| Alternative Trading Strategies | - | 0.08% | - | - | |
| Alternative Trading Strategies | - | - | 0.08% | - | |
| Alternative Trading Strategies | - | - | - | 0.08% | |
| Bonds | 0.02% | - | - | - | |
| Cash and Equivalents | 0.01% | - | - | - | |
Regional Allocation
| Emerging Asia | 44.45% | |
| North America | 24.63% | |
| South & Central America | 10.59% | |
| Developed Asia | 5.19% | |
| Middle East & Africa | 4.65% | |
| Developed Europe - Excl UK | 4.52% | |
| Non-Classified | 4.41% | |
| Emerging Europe | 1.53% | |
| Cash and Equivalents | 0.01% | |
| Australia & New Zealand | 0.01% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 100.08% | |
| Pound Sterling | 0.02% | |
| Cash | -0.10% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Emerging Asia | 44.45% | - | |
India
|
- | 13.02% | |
China
|
- | 11.74% | |
South Korea
|
- | 10.36% | |
Taiwan
|
- | 5.46% | |
Indonesia
|
- | 3.87% | |
| North America | 24.63% | - | |
United States
|
- | 24.62% | |
Canada
|
- | 0.01% | |
| South & Central America | 10.59% | - | |
Brazil
|
- | 5.89% | |
Mexico
|
- | 4.70% | |
| Developed Asia | 5.19% | - | |
Hong Kong
|
- | 5.19% | |
| Middle East & Africa | 4.65% | - | |
South Africa
|
- | 4.65% | |
| Developed Europe - Excl UK | 4.52% | - | |
Spain
|
- | 2.36% | |
Portugal
|
- | 1.46% | |
Luxembourg
|
- | 0.70% | |
France
|
- | 0.00% | |
| Non-Classified | 4.41% | - | |
| Emerging Europe | 1.53% | - | |
Turkey
|
- | 1.53% | |
| Cash and Equivalents | 0.01% | - | |
| Australia & New Zealand | 0.01% | - | |
Australia
|
- | 0.01% | |
Breakdown By Market Cap (%)
| Mega |
|
50.25% |
| Large |
|
18.54% |
| Medium |
|
4.73% |
| Non-Classified |
|
26.45% |
| Bonds |
|
0.02% |
| Cash |
|
0.01% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 8.89% | Technology Hardware & Equipment | United States |
| 2 | SAMSUNG ELECTRONICS CO. LTD | 5.86% | Telecommunications Equipment | South Korea |
| 3 | TENCENT HOLDINGS LIMITED | 4.55% | Software & Computer Services | China |
| 4 | NU HOLDINGS | 3.23% | Finance & Credit Services | United States |
| 5 | MERCADOLIBRE | 2.58% | Consumer Services | United States |
| 6 | AIA GROUP LIMITED | 2.45% | Life Insurance | Hong Kong |
| 7 | HDFC BANK LIMITED | 2.40% | Banks | India |
| 8 | BANCO BILBAO VIZCAYA ARGENTARIA S.A. | 2.36% | Banks | Spain |
| 9 | KIA MOTORS CORP | 2.25% | Automobiles & Parts | South Korea |
| 10 | SK HYNIX INC | 2.24% | Technology Hardware & Equipment | South Korea |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 24.30% | - | - | - | - | - | - | 24.30% |
| Telecommunications | - | 7.31% | - | - | - | - | - | - | 7.31% |
| Financials | - | 23.78% | - | - | - | - | - | - | 23.78% |
| Consumer Discretionary | - | 19.22% | - | - | - | - | - | - | 19.22% |
| Consumer Staples | - | 8.98% | - | - | - | - | - | - | 8.98% |
| Energy | - | 1.36% | - | - | - | - | - | - | 1.36% |
| Health Care | - | 2.22% | - | - | - | - | - | - | 2.22% |
| Industrials | - | 7.58% | - | - | - | - | - | - | 7.58% |
| Basic Materials | - | 0.82% | - | - | - | - | - | - | 0.82% |
| Cash and Equivalents | - | - | - | - | - | - | - | -0.01% | -0.01% |
| Bonds | - | - | - | 0.02% | - | - | - | - | 0.02% |
| Non-Classified | - | - | - | - | - | - | 4.41% | 0.02% | 4.44% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B1YX4S7 |
| Mex Code | C5JEBA |
| Isin Code | GB00B1YX4S73 |
| Citi Code | E1A0 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 1.08% |
Aims and Benchmark
| Aims | To provide long term capital growth by investing primarily in equity and equity-linked securities of emerging markets companies. Other instruments as permitted in the stated investment and borrowing powers of the Company including, but not limited to, fixed interest securities, cash and cash equivalents may be held on an ancillary basis, as appropriate. |
| Benchmark | MSCI Emerging Markets Index (Net) |
| Benchmark Category | - |
| IA Sector | Global Emerging Markets |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | ICVC |
| Launch price | £0.50 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 February | 30 April |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | The National Westminster Bank plc |
| Fund Administrator | Internal |
| Fund Registrar | Internal |
| Fund Custodian | Internal |
Group Details
| Group name | JPMorgan Asset Management |
| Group address | 60 Victoria Embankment London EC4Y 0JP United Kingdom |
| Group telephone | 0800 727 770 |
| Dealing telephone | 0207 742 9909 |
| ifaenquiry@jpmorgan.com | |
| Homepage | www.jpmorganassetmanagement.com/ |
| Fax number | 0207 742 9010 |
Dealing
| Minimum Investment | £1000000 |
| Minimum Top Up | £100000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -3.77 |
| Beta | 1.09 |
| Sharpe | -0.01 |
| Standard Deviation | 14.29 |
| Info Ratio | -0.98 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | Yes |
| Concentrated Portfolio | Yes |
| Smaller Companies | Yes |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | Yes |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
Concentrated Portfolio
The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of companies.
Smaller Companies
The fund invests in smaller companies. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Higher Risk
This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.
Umbrella Liabilities
If the liabilities of one fund were to exceed its assets, the other funds within the scheme might have to transfer across money to cover the liabilities.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.