JPMorgan Indian Investment Trust plc
JII.L
London Stock Exchange1,012.00
GBp
+2.00
(+0.20%)
JPMorgan Indian Investment Trust plc
JII.L
(London Stock Exchange)
Recent
price
1,012.00
P/E
ratio
53.26
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- JPMorgan India Growth & Income plc (LSE: JIGI), formerly JPMorgan Indian Investment Trust plc, is a UK-listed closed-end investment trust that provides capital growth through a diversified portfolio of equity and equity-related securities of Indian companies and companies deriving a material portion of revenues or economic activity from India; it benchmarks performance against the MSCI India Index (sterling terms) with a focus on high-quality businesses exhibiting sustainable returns on capital, strong growth prospects, economic moats, and effective governance. Established in 1994 and headquartered in London, England, the trust invests across sectors including financials, utilities, industrials, consumer discretionary, and energy, targeting premium and quality companies well-positioned for India's long-term growth drivers such as capex expansion, favorable demographics, financial inclusion, and manufacturing resurgence; it limits exposure to other investment companies to no more than 15% of gross assets. Managed by portfolio managers Amit Mehta, Sandip Patodia, and Ayaz Ebrahim at JPMorgan Asset Management (UK) Limited, with JPMorgan Funds Limited serving as AIFM, the trust emphasizes active share positioning (around 53%) derived from proprietary research covering approximately 85% of India's market capitalization. In May 2025, following a strategic review addressing underperformance and share price discount volatility, the board committed to its quality-growth mandate while announcing key enhancements including a planned 30% tender offer at close to NAV in Q3 2025, ongoing market buybacks targeting single-digit discounts, a triennial 100% tender offer at 3% discount to NAV starting Q2 2028 (subject to NAV floor), and a new 4% year-end NAV quarterly dividend policy funded from income and capital reserves to attract income-focused investors. Effective October 2025, management fees reduced to 0.65% on first GBP300 million of assets (from 0.75%) and 0.55% thereafter (from 0.60%); the ticker changed to JIGI on 2 October 2025 alongside the name change to JPMorgan India Growth & Income plc, with the first quarterly dividend of 11.08 pence declared for payment on 1 December 2025 (ex-date 6 November 2025). In December 2025, Charlotta Ginman joined as Non-Executive Director and Senior Independent Director, supporting board refreshment amid ongoing share repurchases (authority renewed to 14.99% annually) and a 2024 continuation vote affirming long-term viability. The trust operates without gearing, holding minimal net cash (0.6% at September 2023), and dissolved its Mauritius subsidiary in 2022 following tax treaty changes.