Managed by JPMorgan Asset ManagementHelge Skibeli, James Cook, Sam Witherow
Latest factsheet
31 May 2026
Net assets
£3.48bn
Yearly charge
0.44%
vs asset value
2.3% discount
Borrowing
0.20%
Dividend yield
3.80%
The Company 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 manager is focused on building a high conviction portfolio of typically 50 - 90 stocks, drawing on an investment process underpinned by fundamental research. Portfolio construction is driven by bottom up stock selection rather than geographical or sector allocation. Currency exposure is predominantly hedged back towards the benchmark. The Company uses borrowing to gear the portfolio within a range of 5% cash to 20% geared under normal market conditions. Gearing may magnify gains or losses experienced by the Company. The Company makes quarterly distributions, that are set at the beginning of each financial year. On aggregate, the intention is to pay dividends totalling at least 4% of the NAV as at the end of the preceding financial year.
2.3% discount — the shares change hands for less than the value of what the trust owns. Unlike an open-ended fund, a trust’s shares are bought and sold on the stock exchange, so their price is whatever buyers and sellers agree — not the value of the portfolio behind them.Share price 597.5 · asset value per share 611.5 (GBP)
