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JPMorgan Emerging Europe, Middle East & Africa Sec (JEMA) ORD GBP0.01

Sell:85.00p Buy:93.00p 0 Change: No change
Market closed |  Prices as at close on 2 May 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:85.00p
Buy:93.00p
Change: No change
Deal now Deal for just £11.95 per trade in a Stocks and Shares ISA, Lifetime ISA , SIPP or Fund and Share Account
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Market closed |  Prices as at close on 2 May 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:85.00p
Buy:93.00p
Change: No change
Market closed |  Prices as at close on 2 May 2024 Prices delayed by at least 15 minutes | Switch to live prices |
Deal now Deal for just £11.95 per trade in a Stocks and Shares ISA, Lifetime ISA , SIPP or Fund and Share Account
Deal now
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.

HL comment

The trust has underperformed the MSCI Russia 10/40 Index since 1 November 2006, falling 24.4%* compared with a gain of 4% for the index, in sterling terms.

JPMorgan has a well-resourced and experienced emerging markets team. We believe their approach of seeking companies capable of strong, sustainable earnings growth is sensible and over the long term they could deliver respectable results.

The Russian stock market currently looks inexpensive and investors brave enough to take a contrarian view on an out of favour area can reap the rewards over the long term. However, politics, commodity price falls and currency moves are just some of the risks to be aware of and only the most adventurous investors are likely to be brave enough to dip a toe in the water.

Potential investors should ensure they are comfortable with the risks, details of which can be found in the latest annual reports & accounts along with the charging structure.

View our full research note on JPMorgan Russian Securities Investment Trust plc »

Objective

The Company seeks to achieve its investment objective by investing in a diversified portfolio of securities of companies having their head office or exercising a predominant part of their activities in Central, Eastern and Southern Europe (including Russia), the Middle East and Africa including those markets that are considered as emerging markets according to the S&P Emerging Europe, Middle East and Africa Index.
Security Weight
JPM GBP Liquidity LVNAV X (dist.) 5.00%
Al Rajhi Bank 4.90%
Saudi National Bank 3.62%
Saudi Arabian Oil Co 2.82%
Naspers Ltd Class N 2.72%
Firstrand Ltd 2.59%
Riyadh Cables Group Co 2.47%
Saudi Telecom Co 2.37%
Standard Bank Group Ltd 2.28%
Qatar National Bank SAQ 2.14%
Sector Weight
Financial Services 36.87%
Energy 13.27%
Communication Services 10.42%
Consumer Cyclical 7.61%
Basic Materials 7.26%
Industrials 6.30%
Real Estate 4.02%
Consumer Defensive 3.81%
Healthcare 2.48%
Technology 2.29%
Country Weight
Saudi Arabia 33.37%
South Africa 23.00%
United Arab Emirates 13.27%
Russia 6.50%
Greece 5.10%
Qatar 4.74%
Hungary 2.46%
Kazakhstan 2.42%
United Kingdom 0.94%
Romania 0.83%

Fee Structure

Annual investment management fee will be charged at a rate of 0.9% on the net asset value of the Companys portfolio. Contract terminable on notice period of 3 months.

Dividend Policy

The current sanctions and restrictions in Russia are expected to limit the Company's ability to pay any further dividends following the payment of the 11th March 2022. It remains the Company's intention to resume the payment of dividends when circumstances permit.It is expected that the Company will generate revenue in the year that will enable the payment of a small dividend as required to maintain its investment trust status. Any such dividend payable will be advised in the Company's annual report and financial statements expected to be released towards the end of January 2024.

ASSET SPLIT

Total number of holdings: 106.

Trust Manager

Oleg Biryulyov

Manager Bio

Oleg Biryulyov, managing director, is a regional portfolio manager and the head of the Emerging Europe, Middle East and Africa Group, with a specialisation in Russia and Eastern Europe, within the Emerging Markets and Asia Pacific Equities Team based in London. An employee since 1994, Oleg was previously a portfolio manager for Flemings Urals Regional Venture Fund. Prior to this, he was an investment analyst. Oleg obtained a degree in economics from Moscow State University, Lomonosov. He is a holder of the CFA designation.

Board Of Directors

Eric SandersonChairman, Daniel Burgess, Nicholas Pink

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.
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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'.