JPM Emerging Markets trust NAV up 1.3% with 'optimistic note' ahead

'A game of two halves'

The JP Morgan Emerging Markets trust has reported its net asset value rose 1.3% in the six months to the end of December after a "difficult year", but heralded a better looking 2023 for the sector.

The performance meant the trust beat its benchmark, the MSCI Emerging Markets index, which ended the period down 2.1%. Share price total return for the trust for the period was up 5.1%. Over five years, the cumulative total return to the trust's shareholders is up 32.8%, against the benchmark return of 4.8%.  Performance was volatile, with chairman Aidan Lisser branding it "a game of two halves". Between 1 July to 30th September 2022, the MSCI Emerging Markets Index fell 11.6% in US dollar terms, before rebounding by 9.7% over the following three months, a reversal of fortunes for eme...