The trust was launched in 2010 and aims to deliver a combination of capital growth and a diversified source of income by investing in EM equities.
It is managed by Richard Titherington and has net assets under management of £181m.
Since launch new shares have been issued at a premium on more than 90 separate occasions and the trust also has a discount control mechanism in place to protect shareholders’ interests if sentiment should reverse.
David Barron, head of investment trusts at JPM Asset Management, said: "The strength of demand for the JPMorgan Global Emerging Markets Income Trust has underlined the investor appetite for diversified sources of income in an environment where returns on cash and bonds continue to disappoint.
"By securing this authority to issue new shares according to demand, the trust can serve the needs of both new and existing investors who wish to tap into greater growth potential and increasingly the attractive dividend stream available from emerging market companies."
Alternative to Aberdeen in GEM?
The JPMorgan GEM Income trust was one of the names thrown in the hat as an alternative place for EM exposure after Aberdeen soft-closed their Emerging Markets Fund.
But others have warned that using an investment trust to access emerging markets should be done carefully and only for clients with a longer-term investment horizon because of illiquidity concerns.
On the flip-side a closed-end structure could benefit investors in emerging markets as shareholders are less likely to pull their money out when sentiment turns sour.
Since launch the share price of the fund has increased 15.5%, while its net asset value has jumped 21.3% – compared to the benchmark’s 3.5% return.
In the 12 months to 30 April the fund’s share price was up 2.9% and NAV was up 3.3%, while the benchmark was down 10.2%.
It is currently trading on a 2.3% premium, with a 12-month low of -0.6% and a 12-month high of 7.8%.
