JPMorgan European IT announces 'very disappointing' annual results

Shareholders lost 16.3% over the past year

JPMorgan European investment trust has announced "very disappointing" annual results for the year to 31 March 2020, struck by "negative sentiment to investing in Europe" combined with the coronavirus pandemic.

Total return to shareholders for the growth part of the portfolio was a loss of 16.3%, inclusive of share price movement and dividend income, compared with its MSCI Europe ex UK benchmark's loss of 8.3%. Why 'it is not all gloom' for European assets Chair Josephine Dixon said the "main reason" for the portfolio underperforming the benchmark is due to its value bias, combined with the widening of discount. Total return on the income part of the portfolio also far underperformed the same benchmark, down 27.5%, which Dixon attributed to coronavirus market turmoil, combined with the ma...