JPMorgan Global Growth & Income (JGGI) was established in 1887 and has been focused on global equities since 1982. Originally managed by Robert Fleming & Co, it became part of the JPMorgan stable in 2001. JGGI bought back a large amount of its shares between 1998 and 2015 in an attempt to reduce its discount, first to a target of 10% and then to 5% or less. In 2016, it was one of the first trusts to adopt an enhanced dividend policy, allowing dividends to be paid out of capital and setting its payout at 4% of its NAV. Since this change, JGGI has nearly always traded at a premium and it...
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Stuart qualified as a chartered accountant before moving into journalism and has 20 years of experience of owning and writing about investment trusts from an independent standpoint. He is now producing regular fund profiles for the Money Makers circle. This post originally appeared on his blog but it has been added to our archive to build up our library of content.
JPMorgan Global Growth & Income has become one of my larger positions in the last few years. I first bought it in 2017 but in early 2019, after a decade in charge, the trust's then-manager decided on a career change. The trust'...
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