JPMorgan China Growth & Income | Winterflood Research

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Structural opportunity intact despite 2021 headwinds

JPMorgan China Growth & Income aims to deliver capital growth and income by investing in quality growth companies. The portfolio consists of companies listed in or deriving a substantial share of their revenues from the ‘Greater China’ region, including Hong Kong and Taiwan. Howard Wang and Shumin Huang have co-managed the fund since 2006 and were joined by Rebecca Jiang in 2017. The investment approach can be broadly defined as leveraging bottom-up fundamental analysis with top-down macro views, supported by the insights delivered by JPMorgan AM’s Emerging Market and Asia Pacific Equities macro strategists. In general, the portfolio is positioned towards long-term structural growth opportunities, with a focus on Consumption, Healthcare, Technology and Digitalisation. The fund has a strong long-term performance record, delivering a NAV total return of +359% over the last ten years, significantly outperforming the +161% return of its benchmark, the MSCI China Index. The fund has a £515m market cap and a historical dividend yield of 3.6%.

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