JP Morgan Global Growth and Income trust (JGGI) has announced the addition of James Cook to its portfolio management team, alongside current managers Helge Skibeli and Tim Woodhouse.
Cook will take the place of Rajesh Tanna, who has co-managed the portfolio since 2019. Tanna is leaving to focus on other management responsibilities within the firm’s international equity group.
JGGI confirmed that its investment process, investment objective, and strategy will not change.
Cook, who is based in London, joined JP Morgan as a graduate trainee in September 2007. During his tenure, he has been a portfolio manager on its global financials fund and fundamental long-short strategies.
JGGI said: “The board would like to thank Raj for his contribution to the company’s portfolio management over the last three years, and it looks forward to working with James alongside the other members of the company’s investment management team in seeking to deliver strong long-term returns to shareholders.”
The trust has consistently outperformed its benchmark, the MSCI All Country World index, including over the last 12 months, when it posted a share price cumulative return of 3.15% against the index’s -1.8%.
As of 31 December, the trust had assets of £1.49bn, but this is set to increase when its merger with JP Morgan Elect completes.
JGGI’s share price is up 6.5% over the last six months to £4.48, and a net asset value of £4.51 leaves it trading at a premium of 0.3%.
