Manager firm
JPMorgan Asset Management
Manager(s)
Don San Jose, Dan Percella, Jon Brachle
Structure
North American Smaller Companies
AIC sector
North American Smaller Companies
Domicile
United Kingdom
Base currency
GBP
Launched
1962-04-02
Latest factsheet
2026-05-31
Snapshot date
2025-08-31
Share price
407.55p
NAV / share
455.56p2026-10-20
Premium / discount
-10.54%
Fund size
£265m
OCF
0.96%
Performance fee
—
Gearing
9.10%
Dividend yield
0.80%
| Period | Return | Benchmark | Vs |
|---|---|---|---|
| 1m | 2.9% | — | — |
| 3m | 3.4% | — | — |
| ytd | 6.5% | — | — |
| 1y | 10.7% | — | — |
| # | Holding | Sector | Country | Weight |
|---|---|---|---|---|
| 1 | Novanta | Technology | — | 1.8% |
| 2 | Element Solutions | Basic Materials | — | 1.7% |
| 3 | Modine Manufacturing | Industrials | — | 1.6% |
| 4 | Ryman Hospitality Properties | Real Estate | — | 1.5% |
| Industrials | 27.4% | |
| Financials | 20.6% | |
| Technology | 12.2% | |
| Health Care | 7.8% | |
| Consumer Discretionary | 7.8% | |
| Basic Materials | 6.9% | |
| Energy |
| USA | 96.4% | |
| Cash near Cash | 3.6% |
| Portfolio yield | 1.35% |
| Unlisted holdings | — |
| Cash & equivalents | 3.62% |
| Total assets | £281.6m |
| Revenue reserves | £0 |
| Net gearing | 6.80% |
The JPM US Smaller Companies Investment Trust seeks to invest in high quality US Smaller Companies at a reasonable valuation, particularly focusing on those companies with strong earnings and cash flow characteristics. Since mid-2025, we have seen a strong rally in performance from more thematic stocks and unprofitable companies, which, given the quality-orientation of our portfolio management approach, we would not tend to invest in. This has led to relative underperformance. Over the long-term, we maintain conviction in our approach to identify high quality companies that should deliver strong risk-adjusted returns over a cycle.
Manager firm
JPMorgan Asset Management
Manager(s)
Don San Jose, Dan Percella, Jon Brachle
Structure
North American Smaller Companies
AIC sector
North American Smaller Companies
Domicile
United Kingdom
Base currency
GBP
Launched
1962-04-02
Latest factsheet
2026-05-31
Snapshot date
2025-08-31
Share price
407.55p
NAV / share
455.56p2026-10-20
Premium / discount
-10.54%
Fund size
£265m
OCF
0.96%
Performance fee
—
Gearing
9.10%
Dividend yield
0.80%
| Period | Return | Benchmark | Vs |
|---|---|---|---|
| 1m | 2.9% | — | — |
| 3m | 3.4% | — | — |
| ytd | 6.5% | — | — |
| 1y | 10.7% | — | — |
| # | Holding | Sector | Country | Weight |
|---|---|---|---|---|
| 1 | Novanta | Technology | — | 1.8% |
| 2 | Element Solutions | Basic Materials | — | 1.7% |
| 3 | Modine Manufacturing | Industrials | — | 1.6% |
| 4 | Ryman Hospitality Properties | Real Estate | — | 1.5% |
| Industrials | 27.4% | |
| Financials | 20.6% | |
| Technology | 12.2% | |
| Health Care | 7.8% | |
| Consumer Discretionary | 7.8% | |
| Basic Materials | 6.9% | |
| Energy |
| USA | 96.4% | |
| Cash near Cash | 3.6% |
| Portfolio yield | 1.35% |
| Unlisted holdings | — |
| Cash & equivalents | 3.62% |
| Total assets | £281.6m |
| Revenue reserves | £0 |
| Net gearing | 6.80% |
The JPM US Smaller Companies Investment Trust seeks to invest in high quality US Smaller Companies at a reasonable valuation, particularly focusing on those companies with strong earnings and cash flow characteristics. Since mid-2025, we have seen a strong rally in performance from more thematic stocks and unprofitable companies, which, given the quality-orientation of our portfolio management approach, we would not tend to invest in. This has led to relative underperformance. Over the long-term, we maintain conviction in our approach to identify high quality companies that should deliver strong risk-adjusted returns over a cycle.
| Period | Return | Benchmark | Vs |
|---|---|---|---|
| 3y | 7.0% | — | — |
| 5y | 0.3% | — | — |
| 10y | 9.9% | — | — |
| 5 | Loar Holdings | Industrials | — | 1.5% |
| 6 | MACOM Technology Solutions | Technology | — | 1.5% |
| 7 | Hayward | Industrials | — | 1.5% |
| 8 | MSA Safety | Industrials | — | 1.4% |
| 9 | SM Energy | Energy | — | 1.4% |
| 10 | Fabrinet | Technology | — | 1.4% |
| 5.1% |
| Real Estate | 4.5% |
| Consumer Staples | 3.2% |
| Utilities | 1.9% |
| Cash | 1.6% |
| Telecommunications | 1.0% |
| Gross gearing | 10.80% |
| Net cash | £0 |
| Gearing range (from) | 0.00% |
| Gearing range (to) | 15.00% |
| Shares in issue | 57,125,784 |
| Shares issued | 0 |
| Shares purchased | 365,000 |
| Treasury shares | 8,280,491 |
| Period | Return | Benchmark | Vs |
|---|---|---|---|
| 3y | 7.0% | — | — |
| 5y | 0.3% | — | — |
| 10y | 9.9% | — | — |
| 5 | Loar Holdings | Industrials | — | 1.5% |
| 6 | MACOM Technology Solutions | Technology | — | 1.5% |
| 7 | Hayward | Industrials | — | 1.5% |
| 8 | MSA Safety | Industrials | — | 1.4% |
| 9 | SM Energy | Energy | — | 1.4% |
| 10 | Fabrinet | Technology | — | 1.4% |
| 5.1% |
| Real Estate | 4.5% |
| Consumer Staples | 3.2% |
| Utilities | 1.9% |
| Cash | 1.6% |
| Telecommunications | 1.0% |
| Gross gearing | 10.80% |
| Net cash | £0 |
| Gearing range (from) | 0.00% |
| Gearing range (to) | 15.00% |
| Shares in issue | 57,125,784 |
| Shares issued | 0 |
| Shares purchased | 365,000 |
| Treasury shares | 8,280,491 |
