JPMorgan Global Convertibles Income

  • 85.00p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • -
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.15%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 4.90%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

The Company aims to provide investors with a dividend income combined with the potential for long term capital growth, from investing in a globally diversified portfolio of convertible securities. The Company is targeting an initial gross dividend of 4.5p per share, which represents 4.5% per annum based on the initial issue price of 100p per share.

Fund summary

Sector Investment Companies
Structure X-INVESTMENT COMPANY
Launched June, 2013
Size £0m
Yield 4.90%
Charging basis
Dividends paid Oct, Jan, Apr, Jul

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 1.15%

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Investment process

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Antony Vallee

Vallee, Head of J.P. Morgan’s convertible bond team. Vallee has been an employee of J.P.Morgan since 2007, prior to which he was Head of Convertible Arbitrage and Equity-Linked Strategies at SYSTEIA Capital Management where he was responsible for investment strategy including gamma trading, convertible arbitrage, credit arbitrage and directional investments.

Track record

The track record of Antony Vallee in managing mutual funds in this sector is still too short for us to draw any meaningful conclusions and so our assessment is based largely on qualitative aspects.

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Sector breakdown

Non-Cyclical Consumer Goods 21.00%
Banks 18.00%
Communications 12.00%
Energy 10.00%
Industrials 10.00%
Other Financial 6.00%
Real Estate 6.00%
Cyclical Consumer Goods 4.00%
Basic Materials 4.00%
Technology 4.00%

Key Investor Information

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