JPMorgan Global Research Enhanced Index Equities Fund aims to achieve a long-term return in excess of the Benchmark by investing primarily in a portfolio of companies, globally, the risk characteristics of the portfolio of securities held by the Underlying Sub-Fund will resemble the risk characteristics of the portfolio of securities held in the Benchmark. The Fund will substantially invest in the Underlying Sub-Fund.
•Stock selection was positive in 8 of the 19 sectors in our internal sector classification scheme this month.
•An overweight position in Netflix, an online subscription streaming service and production company, contributed to performance over the period. The company reported solid quarterly returns ahead of consensus estimates and guided to increased subscriber and revenue growth opportunities on the back of the ad-supported option launch in November.
•Not holding Amgen, an American multinational biopharmaceutical company, detracted from relative returns over the month. The company reported results ahead of consensus expectations, which were largely driven by its mature product Enbrel and good cost control.
What is JPMorgan Glb Rsrch Enhncd Idx Eq Fd JPMorgan Glb Rsrch Enhncd Idx Eq Fd is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Large Fundamental Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The JPMorgan Glb Rsrch Enhncd Idx Eq Fd has Assets Under Management of 17.32 M with a management fee of 0.2%, a performance fee of 0.00% and a buy/sell spread fee of 0%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the JPMorgan Glb Rsrch Enhncd Idx Eq Fd has returned -13.68% in the last month. The previous three years have returned 3.55% annualised and 13.38% each year since inception, which is when the JPMorgan Glb Rsrch Enhncd Idx Eq Fd first started.
How is risk measured in this investment product?
There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since JPMorgan Glb Rsrch Enhncd Idx Eq Fd first started, the Sharpe ratio is 0.51 with an annualised volatility of 13.38%. The maximum drawdown of the investment product in the last 12 months is -23.8% and -23.8% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.
What is the relative performance of the investment product?
Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The JPMorgan Glb Rsrch Enhncd Idx Eq Fd has a 12-month excess return when compared to the Foreign Equity - Large Fundamental Index of -3.55% and -0.45% since inception.
Does the investment product produce Alpha over its Peers?
Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. JPMorgan Glb Rsrch Enhncd Idx Eq Fd has produced Alpha over the Foreign Equity - Large Fundamental Index of 0.2% in the last 12 months and -0.09% since inception.
What are similar investment products?
For a full list of investment products in the Foreign Equity - Large Fundamental Index category, you can click here for the Peer Investment Report.
What level of diversification will JPMorgan Glb Rsrch Enhncd Idx Eq Fd provide?
JPMorgan Glb Rsrch Enhncd Idx Eq Fd has a correlation coefficient of 0.93 and a beta of 1.33 when compared to the Foreign Equity - Large Fundamental Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.
How do I compare the investment product with its peers?
For a full quantitative report on JPMorgan Glb Rsrch Enhncd Idx Eq Fd and its peer investments, you can click here for the Peer Investment Report.
How do I compare the JPMorgan Glb Rsrch Enhncd Idx Eq Fd with the Developed -World Index?
For a full quantitative report on JPMorgan Glb Rsrch Enhncd Idx Eq Fd compared to the Developed -World Index, you can click here.
Can I sort and compare the JPMorgan Glb Rsrch Enhncd Idx Eq Fd to do my own analysis?
To sort and compare the JPMorgan Glb Rsrch Enhncd Idx Eq Fd financial metrics, please refer to the table above.
Has the JPMorgan Glb Rsrch Enhncd Idx Eq Fd been independently verified by SMSF Mate?
This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.
How can I invest in JPMorgan Glb Rsrch Enhncd Idx Eq Fd?
How do I get in contact with the JPMorgan Glb Rsrch Enhncd Idx Eq Fd?
Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the JPMorgan Glb Rsrch Enhncd Idx Eq Fd. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - October 31, 2022 •Stock selection was positive in 8 of the 19 sectors in our internal sector classification scheme this month.
•An overweight position in Netflix, an online subscription streaming service and production company, contributed to performance over the period. The company reported solid quarterly returns ahead of consensus estimates and guided to increased subscriber and revenue growth opportunities on the back of the ad-supported option launch in November.
•Not holding Amgen, an American multinational biopharmaceutical company, detracted from relative returns over the month. The company reported results ahead of consensus expectations, which were largely driven by its mature product Enbrel and good cost control.
Performance Commentary - September 30, 2022 •Stock selection was the primary driver of performance and was positive in 10 of the 19 sectors in our internal sector classification scheme this quarter.
•An overweight position in Deere & Company, a US-based agricultural heavy machinery and equipment manufacturer, contributed to returns. The company reported third-quarter earnings results that missed market expectations. This was due to weaker margins, with supply chains being cited as the major issue. That said, the demand picture is still solid as farmers’ income remains robust and is expected to remain so throughout 2023.
•An overweight position in Seagate Technology, a US-based data storage company, detracted from returns. The company downgraded its earnings estimates based on weaker economic trends in certain Asian regions, which have amplified customer inventory corrections and supply-chain disruptions. It also cited observing more cautious buying behaviour among global enterprises and certain US-based cloud customers amid ongoing macroeconomic uncertainties.
Performance Commentary - July 31, 2022 •Stock selection was the primary driver of performance and was positive in 12 of the 19 sectors in our internal sector classification scheme this month.
•An overweight position in Amazon, the US online retailer and technology company, contributed to performance over the month. Shares rose strongly as reported revenue and earnings came in ahead of expectations. Despite concerns over the macro environment, the company is not seeing any negative impact on its business.
•An overweight position in AbbVie, the US-based pharmaceutical company, detracted from performance over the month. Even as the company reported quarterly earnings in line with expectations, shares declined on forecasts of a “potential settlement” of litigation over a business unit’s past sales of opioid drugs.
Performance Commentary - June 30, 2022 To achieve a long-term return in excess of the benchmark by investing primarily in a portfolio of companies, globally. The risk characteristics of the portfolio of securities held by the Underlying Sub-Fund will resemble the risk characterics of the portfolio of securities held in the Benchmark.
Concerns around inflation remain at the centre of market volatility. The recent weakness in consumer sentiment could translate into sluggish consumer spending, affecting wholesale and retail sales in the months ahead.
• While a recession might not be deep, weakness in the economy could linger and a sluggish economic recovery would erode inflation pressures and wage growth. If the post-pandemic surge in demand fades and higher prices start to deter new spending, central banks may adopt a more gradual policy normalisation, compared with the hawkish rhetoric seen in the first half of 2022. • While short-term risks remain, equity markets have already repriced significantly this year, reflecting some risks of a recession.
While we would not be surprised to see a few occasional bouts of volatility, we believe equity markets could now offer an attractive entry point to the long-term investor. • The fund remains broadly region-, sector- and style-neutral versus the benchmark. Our focus is on identifying attractive stocks within each sector, in each region, to generate incremental excess returns over time. Our process is currently pointing towards above-average levels of these stock opportunities in the marketplace.
Performance Commentary - May 31, 2022 • Stock selection was positive in nine of the 19 sectors in our internal sector classification scheme this month.
• An overweight position in NXP Semiconductors, a Dutch semiconductor designer and manufacturer, contributed to relative returns over the month. The stock price rose as the company reported record sales and earnings that came in ahead of expectations. Investor sentiment was buoyed by management’s anticipation for robust customer demand for the next quarter given companyspecific accelerated growth drivers. • Our overweight position in Prologis, an American real estate investment trust, detracted from relative performance over the month. The stock came under pressure as Amazon, one of its largest clients, stated that it would be focusing more on efficiency than on increasing physical and staffing capacity, which sent the stock into a tailspin
Performance Commentary - April 30, 2022 Stock selection was the primary driver of performance and was positive in 12 of the 19 sectors in our internal sector classification scheme this month.
• Our overweight position in Mastercard, the US-listed global payments company, contributed to performance over the period. The company is performing well, as spending in credit versus debit is accelerating and overall spending is rising as the world exits Covid-related lockdowns. This was reflected in Mastercard’s results, which highlighted revenues up 24% and cross-border volumes up 50% year on year.
• An overweight position in NextEra Energy, a US utility company, detracted from performance. The company reported solid quarterly results ahead of consensus expectations. However, the market reacted to the supply challenges associated with solar panel procurement, which will mean solar and storage development will fall short of prior expectations for both 2022 and 2023
Performance Commentary - December 31, 2021 • Stock selection was the primary driver of performance and was positive in 11 of the 19 sectors in our internal sector classification scheme this month.
• An overweight position in AMD, an American multinational semiconductor company, contributed to relative returns. The stock rallied as the company announced that it had gained Meta Platforms as a data centre chip customer and unveiled plans for introducing a range of new chips that would help them to gain a significant share in supercomputing markets. The stock further gained as the company delivered solid third-quarter results, buoyed by strong sales and margin expansion across its business lines.
• Our underweight position in Pfizer, the American multinational pharmaceutical and biotechnology corporation, detracted from relative returns over the month. The stock rose as the company had a potential breakthrough with a possible new pill to fight Covid-19. Furthermore, the US FDA authorised booster shots as protection against new variants, thereby benefitting the company with a longer sales opportunity
Product Snapshot
Product Overview
Performance Review
Peer Comparison
Product Details