JPMorgan Global Emerging Markets Income Trust plc
JEMI.L
London Stock Exchange163.52
GBp
+0.52
(-0.61%)
JPMorgan Global Emerging Markets Income Trust plc
JEMI.L
(London Stock Exchange)
Recent
price
163.52
P/E
ratio
8.63
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- JPMorgan Global Emerging Markets Income Trust plc (JEMI.L) is a United Kingdom-based closed-ended investment trust that invests in a diversified portfolio of emerging markets equities and related securities to deliver dividend income alongside long-term capital growth. The trust predominantly allocates to listed equities across sectors including financial services, technology, consumer cyclical, and communication services; key holdings encompass Taiwan Semiconductor Manufacturing Co Ltd, Tencent Holdings Ltd, Samsung Electronics Co Ltd, NetEase Inc, and Realtek Semiconductor Corp, with geographic exposure spanning China, Taiwan, South Korea, India, Brazil, Mexico, Indonesia, Greece, Thailand, and Saudi Arabia. It employs modest gearing of around 6%, maintains 50 to 80 holdings with no single position exceeding 15% of gross assets, and pays quarterly dividends, including recent payments of 2.60p (4th interim, ex-date 11 September 2025), 1.00p (3rd interim, ex-date 26 June 2025), and prior instalments totaling 5.60p for the year ended 31 July 2025. Launched on 29 July 2010 and headquartered at 60 Victoria Embankment, London EC4Y 0JP, the trust is externally managed by J.P. Morgan Asset Management with portfolio management led by Omar Negyal; it operates within the Global Emerging Markets sector of the Association of Investment Companies, targeting retail and institutional investors seeking emerging markets income and growth. The annual management fee tiers at 0.75% on the first GBP500 million of net assets and 0.65% thereafter, with an ongoing charge of 0.96% and market capitalization of approximately GBP434 million as of late 2025. In recent developments, the trust refinanced its debt facilities in 2024 by securing a US$40 million revolving credit facility plus a US$20 million accordion option from Industrial and Commercial Bank of China Limited (London) Plc for two years with extension options, replacing maturing loans from Mizuho Bank and ING Bank to support ongoing gearing strategy. It repurchased 6,799,472 shares into treasury during the year ended 31 July 2024 at an average 11.7% discount to NAV, enhancing shareholder value by 1.1p per share, and continues periodic buybacks such as 181,891 shares in late 2025. Shareholders will vote on a continuation resolution at the forthcoming AGM in November 2026, affirming the board's positive outlook on emerging markets under current management.