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JPMorgan European Smaller Co IT plc (JESC) Ordinary 5p

Sell:352.00p Buy:356.00p 0 Change: 3.00p (0.85%)
Market closed Prices as at close on 18 October 2019 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:352.00p
Buy:356.00p
Change: 3.00p (0.85%)
Market closed Prices as at close on 18 October 2019 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:352.00p
Buy:356.00p
Change: 3.00p (0.85%)
Market closed Prices as at close on 18 October 2019 Prices delayed by at least 15 minutes | Switch to live prices |
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Objective

The Company invests in a diversified portfolio of smaller companies in Europe, excluding the United Kingdom. The Company manages liquidity and borrowings with the aim of increasing potential sterling returns to shareholders. The Company borrows in euros in order to hedge the currency risk in respect of the geared portion of the portfolio. The Company does not normally hedge the foreign currency exposure of the remainder of the portfolio. The Board has set no minimum or maximum limits on the number of investments in the portfolio. To gain the appropriate exposure, the Investment Managers are permitted to invest in pooled funds.
Security Weight
JPM EUR lqdty LVNAV X (flex dist.) 4.06%
Ingenico Group Euro (CDI) 2.33%
CANCOM SE NPV 2.24%
Intertrust N.V. EUR0.6 2.21%
Stroeer SE NPV 2.20%
SPIE SA EUR0.47 2.16%
Salmar ASA NOK0.25 2.16%
Prysmian Spa Eur0.10 2.13%
Helvetia Holding AG 2.12%
Arcadis NV Eur0.02 2.07%
Sector Weight
Industrials 25.91%
Technology 19.12%
Consumer Cyclical 11.77%
Healthcare 9.34%
Utilities 8.55%
Financial Services 8.13%
Consumer Defensive 8.04%
Real Estate 4.78%
Basic Materials 3.13%
Country Weight
Switzerland 17.71%
Italy 17.33%
France 15.90%
Sweden 13.76%
Germany 12.82%
Netherlands 11.27%
Norway 3.73%
Denmark 2.08%
Belgium 1.27%
Austria 1.16%

Fee Structure

Management fee is charged at a rate of 1.00% p.a. of the NA on the first GBP 400m, and 0.85% of NA over GBP 400. Contract terminable on notice period of 6 months.

Dividend Policy

The main aim of the trust is to emphasise capital growth rather than income, so shareholders should not expect to receive a regular dividend.

ASSET SPLIT

Total number of holdings: 120.

Trust Manager

Francesco Conte

Manager Bio

Francesco Conte, managing director, is a senior portfolio manager for European smaller companies funds within the JPMorgan Asset Management European Equity Group. An employee since 1998, Francesco was previously the lead analyst in the Italian Equities Team at Schroder Securities. Prior to this, he worked at Ermgassen & Co., a specialist M&A boutique specialising in cross-border alliances. Francesco obtained a BSc in Economics & Development from the London School of Economics.

Board Of Directors

Marc van Gelder Chairman, Ashok Gupta, Nicholas Smith, Stephen White, Tanya Cordrey

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.