JP Morgan Income & Capital Trust : JPI, JPIZ, JPIU – final results

JP Morgan Income & Capital Trust, managed by Sarah Emly (pictured) and John Baker,  has released results for the year ended 28 February 2014. These show the overall fund outperforming its benchmark by 6.4%. The total assets generated a total return of 18.4% over the year compared to 12.0% for the benchmark of 90% FTSE350 Index and 10% Barclays Capital Global Corporate Bond Index.

The final quarterly payment was upped to 6.125p from 6.0p and the Board are planning to try to pay that consistently for the rest of the year.

In part the outperformance was achieved by being overweight equities relative to the benchmark (the fund had not bond investments at the end of February). The managers also cites holdings in ITV, BT, WH Smith and house builders as being amongst the major contributors to the outperformance.

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