JPMorgan Growth & Income net asset value grows annually; raises payout

(Alliance News) - JPMorgan European Growth & Income PLC on Tuesday reported higher net asset value and announced a higher payout.

The London-based investment fund said net asset value as at March 31 was 104.8p, up 4.3% from 100.5p a year prior. NAV total return for financial 2023 that ended on March 31 was 16%, outperforming its benchmark, MSCI Europe ex UK, which returned 8.6%.

The company declared a dividend of 4.0p per share, up 60% from 2.50 financial 2022 but down 9.1% from 4.45p in financial 2021.

Looking ahead, the company said the market is facing ongoing uncertainty about the inflation outlook, it added however that the European banking sector is more robust than during previous financial crises.

"We remain alert to the speed with which things can change and will act accordingly if required," it added.

JPMorgan European Growth & Income shares were 0.4% lower at 94.19 pence each in London on Tuesday afternoon.

By Tom Budszus, Alliance News reporter

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