Industrial and financial calls boost JPM Mid-Cap trust

An overweight position in industrials and underweight in financials has helped the JPMorgan Smaller ...

An overweight position in industrials and underweight in financials has helped the JPMorgan Smaller Companies trust almost double its benchmark over a year to 31 July. Over the 12 months, the vehicle produced an NAV return of 32.7%, against the FTSE Small Cap’s 18.7%. Managers Georgina Brittain and Mark Davids said the key driver of this outperformance was stock selection, which contributed 9.6% of the excess above benchmark. Sector selection was also positive and gearing enhanced returns. The position is industrials was already overweight but the managers increased this further, addi...