Money Makers

JPMorgan Indian (ticker: JII) was the first Indian trust to be launched in 1994. After a slow start and multiple manager changes, it produced a very strong period of relative returns from 1997 to 2016, comfortably outperforming the Indian market during this period. Its performance has been weaker on a relative basis since and the discount to NAV has widened from around 10% to 20%. The management team has been refreshed in the last few years with a new line-up that has shifted the focus of the portfolio more towards higher-quality companies. JII has just passed its latest five-year continuation...