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JPMorgan Global Convertibles Income Fund (JGCI)

Business description

JGCI seeks to generate dividend income combined with the potential for long-term capital growth by investing in a globally diversified portfolio of convertible securities and other suitable instruments exhibiting convertible or exchangeable characteristics. The company targets an initial gross dividend yield of 4.5% reflecting the opportunity the manager sees to generate income, particularly in the high-yield sub-sector. The dedicated convertibles team at JPMorgan Asset Management will follow a well-developed process that combines equity and credit selection techniques. The MSCI World index is the reference index. Currency exposures for capital and income will be hedged.

Income from a niche market

Review | Investment Companies | 27/01/2014

JPMorgan Global Convertibles Income Fund Limited (JGCI) targets income and capital growth through investment in a globally diversified portfolio of convertible securities. The fund's yield of over 4% is roughly two percentage points above the world index and one percent above the FTSE All-Share. A key attraction of convertibles is that they offer potential downside protection in the event of a market downturn and a degree of participation in a stronger equity market, with lower volatility.

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Stock data

Market cap.£145.4m
Last close95.000p
High / Low (52 weeks)101.8p / 94.0p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

Price performance

%1m3m12m
Actual(1.3)(1.7)(3.6)
Relative *(0.5)(7.8)(7.1)

* % Relative to local index

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