JPMorgan Global Growth & Income PLC GBP · LSE:JGGI
JPMorgan Global Growth & Income PLC GBP — JPMorgan Global Growth & Income — Shareholder Meeting (October 2022)
27 slides from JPMorgan Global Growth & Income PLC GBP's shareholder meeting presentation, October 2022
Slide 1: JPMorgan Global Growth & Income plc (JGGI)
October 2022 JPMorgan Global Growth & Income plc (JGGI) On Friday 8 July 2016 the Board of JPMorgan Overseas Investment Trust plc announced that it was changing its name with immediate effect to JPMorgan Global Growth and Income plc This is a marketing communication. Please refer to the KIID and to
Slide 2: JPMorgan Global Growth & Income plc
Helge Skibeli Raj Tanna Tim Woodhouse JPMorgan Global Growth & Income plc Portfolio Manager Exp: 36/32 Portfolio Manager Exp: 25/11 Portfolio Manager Exp: 14/14 An unconstrained, style agnostic, concentrated global best ideas portfolio Global Portfolio Global Research Insight Performance Profile ● D
Slide 3: Capturing our unique research insights in the JGGI portfolio
Capturing our unique research insights in the JGGI portfolio An unconstrained, style agnostic, concentrated global best ideas portfolio Portfolio Management Team Lower P/E Higher FCF Yield Higher EPS Growth 2024E Normalized P/E^ 2024E Normalized FCF Yield* ’24E – ’27E Normalized EPS* 20x 8% 12% Helg
Slide 4: Research Team & Process
O1 Research Team & Process ASSET MANAGEMENT
Slide 5: Global Equity Research: bringing together regional insights across the globe
Global Equity Research: bringing together regional insights across the globe Mark Ferguson Europe Global Head of Equity Research, (23/23) Maciej Wasilewicz Head of Research (15/8) 14 Research Analysts (19/14) North America Developed Asia David Small Head of Research (22/17) David Gleeson Head of Res
Slide 6: Our analysts' long-term forecasts drive our ranking of stocks in each sector
Our analysts’ long-term forecasts drive our ranking of stocks in each sector Our focus: normalised sustainable earnings and growth rates Research process Earnings forecasts Ranking Focus on: ● Competitive advantage Normalised Quintile1 ● Industry frameworks Most attractive earnings ● Structural chan
Slide 7: Integrating ESG into our investment process
Integrating ESG into our investment process Systematic and explicit consideration of financially material ESG characteristics Systematically capturing our ESG Informed by our proprietary insights research and company Environment Fundamental engagements, our analysts Insights complete a 40 question E
Slide 8: Portfolio Construction
O2 Portfolio Construction ASSET MANAGEMENT
Slide 9: A rigorous investment process delivering a high conviction global portfolio
A rigorous investment process delivering a high conviction global portfolio Portfolio Research Management Industry frameworks focusing on structural Best research ideas Robust and change repeatable Valuation, Insight, Conviction JPMorgan research and JPM 50 – 90 Long term differentiated research sto
Slide 10: Performance update
O03 Performance update ASSET MANAGEMENT
Slide 11: JGGI portfolio has been trading at average premium of 2.2% since August 2017
JGGI portfolio has been trading at average premium of 2.2% since August 2017 JGGI LN Equity NAV versus Price from 8 August 2016 to 30 September 2022 500 Net Asset Value (GBp) 450 Price (GBp) 400 350 300 250 200 Aug-16 Feb-17 Aug-17 Feb-18 Aug-18 Feb-19 Aug-19 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22 Aug-2
Slide 12: JGGI – Positive excess returns track record
JGGI – Positive excess returns track record JPMorgan Global Growth & Income plc** returns versus MSCI AC World Returns (%) as of 30 September 2022, in GBP 20 JGGI - Net Asset Value JGGI - Share Price MSCI AC World 15 13.76 13.01 13.52 12.92 11.34 11.32 10.44 10.17 10.11 10.35 10 8.36 7.22 5 0 -1.73
Slide 13: Performance attribution
Performance attribution JPMorgan Global Growth & Income plc Attribution summary Stock: 2.76 Sector: -0.05 for 1 year ending 30 September 2022 Benchmark MSCI AC World Index (£) Stock attribution Relative Stock Impact Relative Stock Impact Top contributors Top detractors weight (%) return (%) (%) weig
Slide 14: How are we positioned for the future?
04 How are we positioned for the future? 14
Slide 15: Portfolio characteristics capture our global research process and insights
Portfolio characteristics capture our global research process and insights JPMorgan Global Growth & Income plc as of 30 September 2022 Strategic Classifications Fundamental Characteristics Holding (%) 50 Portfolio Benchmark 42.9 41.5 40 Number of Holdings 63 2900 32.0 33.6 30 27.8 Active Share 85% -
Slide 16: Stock selection drives positioning, resulting in modest super-sector positions
Stock selection drives positioning, resulting in modest super-sector positions JPMorgan Global Growth & Income plc MSCI All Country World Benchmark as of 30 September 2022 Index (Total Return Net) Absolute/Active super-sector positions Relative to benchmark (%) Absolute/Active sector positions Portf
Slide 17: Stock selection drives positioning, resulting in modest exposure to regions
Stock selection drives positioning, resulting in modest exposure to regions JPMorgan Global Growth & Income plc MSCI All Country World Benchmark as of 30 September 2022 Index (Total Return Net) Region/country positions based on Region/country exposure based on underlying company listing/domicile com
Slide 18: We identify and invest in long term structural winners
We identify and invest in long term structural winners Big Data and Artificial Intelligencel Millennial Spending Habits Key holdings: Taiwan Semiconductor Manufacturing Co. Key holdings: Amazon Shift to Public Cloud Healthcare Innovation Key holdings: Microsoft, Amazon Key holdings: Novo Nordisk Ele
Slide 19: JGGI holdings combine valuation, insight and conviction
JGGI holdings combine valuation, insight and conviction JPMorgan Global Growth & Income plc as of 30 September 2022 Benchmark MSCI All Country World Index (Total Return Net) Top ten Active Portfolio Positions Active weight (%) 5.0 4.5 4.36 4.0 3.5 3.0 2.73 2.72 2.53 2.53 2.52 2.51 2.45 2.5 2.38 2.37
Slide 20: Trane Technologies – Analyst insight drives idea generation
Trane Technologies – Analyst insight drives idea generation “Trane Technologies is a leading industrial equipment manufacturer which emerged stronger from the 2008/2009 refinancing crisis with a rebuilt business strategy, broader distribution, and product refresh. Trane’s products are leading the in
Slide 21: LVMH: High quality brands exposed to long term consumer growth trends
LVMH: High quality brands exposed to long term consumer growth trends “LVMH - the ultimate combination of long term vision, scale, execution and the safe harbour stock in tough times.” Bilquis Ahmed, Consumer Analyst Sales Growth (10y) Profit Growth (10y) EPS Growth (10y) Total Return (10y) 8% CAGR
Slide 22: JPMorgan Global Growth & Income plc
Helge Skibeli Raj Tanna Tim Woodhouse JPMorgan Global Growth & Income plc Portfolio Manager Exp: 36/32 Portfolio Manager Exp: 25/11 Portfolio Manager Exp: 14/14 An unconstrained, style agnostic, concentrated global best ideas portfolio Global Portfolio Global Research Insight Performance Profile ● D
Slide 23: Appendix
Appendix JPMorgan 23 ASSET MANAGEMENT
Slide 24: Long term performance track record
Long term performance track record JPMorgan Global Growth & Income plc** returns versus MSCI AC World Calendar year returns (%), in GBP 40 JGGI - Net Asset Value JGGI - Share Price MSCI AC World 35 31.6 32.6 30 28.7 26.2 24.8 24.1 24.6 23.9 25 23.0 22.5 20.5 21.7 19.6 20 17.015.9 15 12.1 13.3 13.2 1
Slide 25: Biographies
Biographies Helge Skibeli Helge Skibeli, Managing Director, is a portfolio manager within the J.P. Morgan Asset Management International Equity Group, based in London. An employee since 1990, Helge was previously the Global Head of Developed Market Equity Research. Helge obtained a MA in general bus
Slide 26: Investment objectives and risk profile
Investment objectives and risk profile JPMorgan Global Growth & Income plc (the Company) INVESTMENT OBJECTIVE AND POLICY ● Aims to provide superior total returns and outperform the MSCI All Country World Index over the long-term by investing in companies based around the world ● The Company pays qua
Slide 27: Important Information
Important Information For Professional Clients only – not for Retail use or distribution. This is a marketing communication and as such the views contained herein do not form part of an offer, nor are they to be taken as advice or a recommendation, to buy or sell any investment or interest thereto.
JPMorgan Global Growth & Income — Shareholder Meeting (October 2022) on 6ix