JPMorgan Emerging Markets Investment beats benchmark in first-half

JPMorgan Emerging Markets Investment Trust PLC on Tuesday reported a higher interim dividend as its net asset value outperformed its benchmark, though it warned of an uncertain outlook for emerging markets.

The investment trust focused on long-term growth said its NAV per share total return for the six months ended December 31 was 2.8%, ahead of the 1.0% return from its benchmark, the MSCI Emerging Markets Index. NAV per share increased to 124.3 pence from 122.1p at June 30 and 118.2p pence at December 31.

JPMorgan Emerging Markets declared an interim dividend of 0.65 pence per share, up 8.3% from 0.60p a year prior, to be paid on April 25.

Chair Aidan Lisser said: ‘While emerging markets equities showed a positive performance over the full calendar year, the combination of a strong US equity market, rising bond yields, and a strengthening US dollar, along with other macroeconomic and geopolitical factors, contributed to a challenging period in the second half of the year, culminating in a weak final quarter of 2024.’

JPMorgan Emerging Markets said global interest rates are likely to remain higher for longer, saying that ‘US interest rates may not ease to the degree previously predicted and the dollar could move higher still’, adding to the uncertainty for emerging markets. However, the trust said they remain focused on identifying ‘high-quality, globally competitive companies’ to drive long-term shareholder value.

Shares in JPMorgan Emerging Markets Investment Trust were down 0.4% at 110.60 pence in London on Tuesday morning.

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