TSMC and Infosys most frequent top ten holdings across JP Morgan AM trust stable
Companies within emerging markets feature most frequently across the stable of trusts, with only two developed market-headquartered firm appearing more than twice – Microsoft and 3i Group.
According to regulatory filings, TSMC appears in four of the trusts and is the largest holding for three of these — Asia Growth & Income, Emerging Markets and Global Emerging Markets — while Infosys does not represent the top holding in any trust.
Companies within emerging markets feature most frequently across the stable of trusts, with only two developed market-headquartered firm appearing more than twice — Microsoft and 3i Group.
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Similarly to TSMC and Infosys, Microsoft features as the top holding in two of the three vehicles that hold the firm — American and Global Growth & Income — while 3i never tops a list.
Also featuring in three top holdings are Indian private sector financial house HDFC Bank, Chinese multimedia and technology firm Tencent and South Korean electronics giant Samsung.
The average JPMAM trust is relatively concentrated, with the top ten comprising an average 37.2% of assets.
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JP Morgan Multi-Asset Growth & Income is the most highly concentrated vehicle, at 64.2%, and features a range of holdings from the JP Morgan wheelhouse, while JP Morgan US Smaller Companies occupies the opposite end of the spectrum, with just 16.5% of total assets held across ten names.
In November 2023, it was revealed the JP Morgan UK Smaller Companies and Mid Cap investment trusts were set to merge, with the former set to absorb its mid cap counterpart.
If approved at the trusts' February 2024
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