JPMorgan Emerging Markets Income Class C 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 | -12.0% | 45.4% | 1.7% | -2.7% | 8.9% |
| Sector | -15.4% | 46.8% | -8.7% | -4.4% | 6.0% |
| Rank | 33/128 | 93/137 | 16/148 | 31/157 | 55/164 |
| Quartile | 2 | 3 | 1 | 1 | 2 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 31/03/24 |
5 Years to 31/03/24 |
10 Years to 31/03/24 |
||
| Fund | 2.5% | 6.6% | 7.4% | |
| Sector | -2.5% | 2.8% | 5.4% | |
| Rank | 19/148 | 14/128 | 13/91 | |
| Quartile | 1 | 1 | 1 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 7.39 |
| SAMSUNG ELECTRONICS CO. LTD | 5.83 |
| INFOSYS LTD | 3.66 |
| BANK RAKYAT INDONESIA (PERSERO) TBK PT | 2.96 |
| INNER MONGOLIA YILI INDUS-A (C1) | 2.44 |
| NETEASE INC | 2.41 |
| GRUPO FINANCIERO BANORTE SAB DE CV | 2.28 |
| NATIONAL COMMERCIAL BANK | 2.24 |
| REALTEK SEMICONDUCTOR CORP | 2.17 |
| ASE TECHNOLOGY HOLDING | 2.07 |
| Total | 33.46 |
Fund Aims
To provide a portfolio designed to achieve income by investing primarily in equity and equity-linked securities of emerging markets companies in any economic sector whilst participating in long-term capital growth.
Fund Manager
Amit Mehta, managing director, is a portfolio manager within the Emerging Markets and Asia Pacific (EMAP) Equities team based in London. An employee since 2011, Amit previously worked at Prusik Investment Management (2009-2011) and Atlantis Investment Management (2007-2009) where he was an Asian equities analyst and portfolio manager. Prior to this, he was a global emerging markets analyst at Aviva Investors (2004-2007) and an investment consultant at Mercer Investment Consulting (2000-2004). Amit obtained a B.Sc (Honours) in Mathematics from Kings College London. He is a CFA Charterholder.
Jeffrey Roskell, managing director, is a portfolio manager and head of the Income strategy within the Emerging Markets and Asia Pacific (EMAP) Equities team, based in Hong Kong. He joined the Firm in 1997 as an investment manager within the Global Equities team (previously known as the Global Portfolios Group) in Hong Kong and transferred to manage Asia Pacific portfolios in 2000. He joined the industry in 1992 as a graduate trainee with Prudential Portfolio Managers Limited in London, and subsequently specialised in managing portfolios investing in Continental European equities. Jeffrey obtained an M.A. in Economics from Cambridge University and the Investment Management Certificate from London Business School.
Omar Negyal, executive director, is a portfolio manager for the Emerging Markets and Asia Pacific (EMAP) Income and Total Emerging Markets strategies within the EMAP Equities team, based in London. An employee since 2012, Omar previously worked at HSBC Global Asset Management (2009-2012), Lansdowne Partners (2006-2009) and F&C Asset Management (1998-2005). Omar has an M.A. and an M.Eng. in Chemical Engineering from the University of Cambridge and is a CFA Charterholder.
Fund Overview
| Mid (26/04/2024) | 108.10p |
| Historic yield | 3.32% |
| Fund size (31/12/2023) | £826.01m |
| Number of holdings | 556 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.90% |
| Launch date | 24/07/2012 |
Asset Allocation
| International Equities | 91.26% | |
| Cash and Equivalents | 0.92% | |
| Money Market | 0.47% | |
| Alternative Trading Strategies | 0.13% | |
| Other Assets | 7.23% |
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 | 91.26% | |
| Cash and Equivalents | 0.92% | |
| Money Market | 0.47% | |
| Alternative Trading Strategies | 0.13% | |
| Other Assets | 7.23% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Financials | 29.34% | - | - | - | |
| Banks | - | 23.28% | - | - | |
| Banks | - | - | 23.28% | - | |
| Banks | - | - | - | 23.28% | |
| Insurance | - | 3.60% | - | - | |
| Life Insurance | - | - | 2.73% | - | |
| Life Insurance | - | - | - | 2.73% | |
| Non-life Insurance | - | - | 0.87% | - | |
| Full Line Insurance | - | - | - | 0.87% | |
| Financial Services | - | 2.46% | - | - | |
| Investment Banking & Brokerage Services | - | - | 1.89% | - | |
| Investment Services | - | - | - | 1.89% | |
| Finance & Credit Services | - | - | 0.57% | - | |
| Consumer Lending | - | - | - | 0.57% | |
| Technology | 22.54% | - | - | - | |
| Technology | - | 22.54% | - | - | |
| Technology Hardware & Equipment | - | - | 16.41% | - | |
| Semiconductors | - | - | - | 12.49% | |
| Production Technology Equipment | - | - | - | 2.07% | |
| Computer Hardware | - | - | - | 1.84% | |
| Software & Computer Services | - | - | 6.14% | - | |
| Computer Services | - | - | - | 6.14% | |
| Consumer Discretionary | 13.10% | - | - | - | |
| Consumer Products & Services | - | 7.36% | - | - | |
| Household Goods & Home Construction | - | - | 4.04% | - | |
| Household Appliance | - | - | - | 4.04% | |
| Leisure Goods | - | - | 2.41% | - | |
| Electronic Entertainment | - | - | - | 2.41% | |
| Personal Goods | - | - | 0.91% | - | |
| Clothing & Accessories | - | - | - | 0.91% | |
| Retail | - | 4.15% | - | - | |
| Retailers | - | - | 4.15% | - | |
| Diversified Retailers | - | - | - | 3.55% | |
| Apparel Retailers | - | - | - | 0.60% | |
| Automobiles & Parts | - | 1.59% | - | - | |
| Automobiles & Parts | - | - | 1.59% | - | |
| Automobiles | - | - | - | 1.59% | |
| Telecommunications | 11.18% | - | - | - | |
| Telecommunications | - | 11.18% | - | - | |
| Telecommunications Equipment | - | - | 6.54% | - | |
| Telecommunications Equipment | - | - | - | 6.54% | |
| Telecommunications Service Providers | - | - | 4.63% | - | |
| Telecommunications Services | - | - | - | 4.63% | |
| Non-Classified | 7.23% | - | - | - | |
| Industrials | 5.38% | - | - | - | |
| Industrial Goods & Services | - | 5.38% | - | - | |
| General Industrials | - | - | 3.44% | - | |
| Glass | - | - | - | 2.08% | |
| Diversified Industrials | - | - | - | 1.36% | |
| Industrial Transportation | - | - | 1.47% | - | |
| Transportation Services | - | - | - | 1.47% | |
| Electronic & Electrical Equipment | - | - | 0.47% | - | |
| Electrical Components | - | - | - | 0.47% | |
| Consumer Staples | 4.47% | - | - | - | |
| Personal Care, Drug & Grocery Stores | - | 3.33% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 3.33% | - | |
| Food Retailers & Wholesalers | - | - | - | 2.44% | |
| Personal Products | - | - | - | 0.89% | |
| Food, Beverage & Tobacco | - | 1.14% | - | - | |
| Food Producers | - | - | 1.14% | - | |
| Food Products | - | - | - | 1.14% | |
| Basic Materials | 2.58% | - | - | - | |
| Basic Resources | - | 2.58% | - | - | |
| Industrial Metals & Mining | - | - | 1.30% | - | |
| Copper | - | - | - | 1.30% | |
| Industrial Materials | - | - | 1.28% | - | |
| Textile Products | - | - | - | 1.28% | |
| Cash and Equivalents | 1.39% | - | - | - | |
| Utilities | 0.98% | - | - | - | |
| Utilities | - | 0.98% | - | - | |
| Gas, Water & Multi-utilities | - | - | 0.98% | - | |
| Gas Distribution | - | - | - | 0.79% | |
| Water | - | - | - | 0.19% | |
| Energy | 0.91% | - | - | - | |
| Energy | - | 0.91% | - | - | |
| Non-Renewable Energy | - | - | 0.91% | - | |
| Oil Refining and Marketing | - | - | - | 0.91% | |
| Real Estate | 0.80% | - | - | - | |
| Real Estate | - | 0.80% | - | - | |
| Real Estate Investment & Services | - | - | 0.80% | - | |
| Real Estate Holding and Development | - | - | - | 0.80% | |
| Alternative Trading Strategies | 0.13% | - | - | - | |
| Alternative Trading Strategies | - | 0.13% | - | - | |
| Alternative Trading Strategies | - | - | 0.13% | - | |
| Alternative Trading Strategies | - | - | - | 0.13% | |
Regional Allocation
| Emerging Asia | 59.85% | |
| South & Central America | 13.38% | |
| Non-Classified | 10.10% | |
| Middle East & Africa | 9.01% | |
| Developed Asia | 3.92% | |
| North America | 1.48% | |
| Cash and Equivalents | 1.39% | |
| Emerging Europe | 0.87% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 99.40% | |
| Cash | 0.57% | |
| US Dollar | 0.03% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| Emerging Asia | 59.85% | - | |
Taiwan
|
- | 19.33% | |
China
|
- | 13.56% | |
South Korea
|
- | 11.93% | |
India
|
- | 8.53% | |
Indonesia
|
- | 4.57% | |
Thailand
|
- | 1.92% | |
| South & Central America | 13.38% | - | |
Mexico
|
- | 6.76% | |
Brazil
|
- | 5.54% | |
Chile
|
- | 1.07% | |
| Non-Classified | 10.10% | - | |
| Middle East & Africa | 9.01% | - | |
South Africa
|
- | 6.77% | |
Saudi Arabia
|
- | 2.24% | |
| Developed Asia | 3.92% | - | |
Hong Kong
|
- | 3.92% | |
| North America | 1.48% | - | |
United States
|
- | 1.48% | |
| Cash and Equivalents | 1.39% | - | |
| Emerging Europe | 0.87% | - | |
Poland
|
- | 0.87% | |
Breakdown By Market Cap (%)
| Mega |
|
41.29% |
| Large |
|
29.07% |
| Medium |
|
5.81% |
| Small |
|
0.22% |
| Non-Classified |
|
22.21% |
| Cash |
|
1.39% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED | 7.39% | Technology Hardware & Equipment | Taiwan |
| 2 | SAMSUNG ELECTRONICS CO. LTD | 5.83% | Telecommunications Equipment | South Korea |
| 3 | INFOSYS LTD | 3.66% | Software & Computer Services | India |
| 4 | BANK RAKYAT INDONESIA (PERSERO) TBK PT | 2.96% | Banks | Indonesia |
| 5 | INNER MONGOLIA YILI INDUS-A (C1) | 2.44% | Non-Classified | Non-Classified |
| 6 | NETEASE INC | 2.41% | Leisure Goods | China |
| 7 | GRUPO FINANCIERO BANORTE SAB DE CV | 2.28% | Banks | Mexico |
| 8 | NATIONAL COMMERCIAL BANK | 2.24% | Banks | Saudi Arabia |
| 9 | REALTEK SEMICONDUCTOR CORP | 2.17% | Technology Hardware & Equipment | Taiwan |
| 10 | ASE TECHNOLOGY HOLDING | 2.07% | Technology Hardware & Equipment | Taiwan |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 22.54% | - | - | - | - | - | - | 22.54% |
| Telecommunications | - | 11.18% | - | - | - | - | - | - | 11.18% |
| Financials | - | 29.34% | - | - | - | - | - | - | 29.34% |
| Real Estate | - | 0.80% | - | - | - | - | - | - | 0.80% |
| Consumer Discretionary | - | 13.10% | - | - | - | - | - | - | 13.10% |
| Consumer Staples | - | 4.47% | - | - | - | - | - | - | 4.47% |
| Energy | - | 0.91% | - | - | - | - | - | - | 0.91% |
| Utilities | - | 0.98% | - | - | - | - | - | - | 0.98% |
| Industrials | - | 5.38% | - | - | - | - | - | - | 5.38% |
| Basic Materials | - | 2.58% | - | - | - | - | - | - | 2.58% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.92% | 0.92% |
| Non-Classified | - | - | - | - | - | - | 7.35% | 0.47% | 7.82% |
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 | B5M5KY1 |
| Mex Code | - |
| Isin Code | GB00B5M5KY18 |
| Citi Code | M0W9 |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.90% |
Aims and Benchmark
| Aims | To provide a portfolio designed to achieve income by investing primarily in equity and equity-linked securities of emerging markets companies in any economic sector whilst participating in long-term capital growth. |
| 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 | Quarterly |
| Distribution Type | No income |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 November | 31 January |
| 01 February | 30 April |
| 01 May | 31 July |
| 01 August | 31 October |
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 | £5000000 |
| 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 | 4.83 |
| Beta | 0.93 |
| Sharpe | 0.00 |
| Standard Deviation | 12.35 |
| Info Ratio | 1.18 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| 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 | Yes |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | Yes |
| New Fund | Yes |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
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.
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.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
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.
New Fund
The charges and expenses may make up a higher proportion of a newly launched fund than initially estimated.
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
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.