Edison Initiates Coverage of Jupiter Primadona Growth Trust

LONDON, June 3, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Jupiter Primadona Growth Trust 

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Highlights of the analysis on Jupiter Primadona Growth Trust by Edison's financial analysts Sarah Godfrey and Andrew Mitchell include:

Jupiter Primadona Growth Trust (JPG) is a global investment trust with a structural bias towards the UK (currently 61% of total assets). It blends direct holdings in UK shares with global funds to produce a portfolio that represents fund manager Jupiter's 'best ideas'. Over the past 18 months the trust has simplified its investment approach (removing a short-term trading subsidiary and some derivative exposure), moved to quarterly payment of dividends and adopted a nil-discount approach. With a composite benchmark of 75% FTSE All-Share and 25% FTSE World ex-UK, absolute and relative performance has been positive over most periods.

Since adopting a zero-discount management policy in February 2014, JPG's shares have traded close to par, and stood at a 1.6% discount to cum-income NAV at 1 June, a little above the one-year average of 1.1%. This compares with an average discount of 5.6% over three years, and 7.8% in the three years prior to the introduction of the new policy. Shares are bought back into treasury on a regular basis to manage the discount, and may be reissued at a premium. Since February 2014, JPG has bought back 2.7m shares (13.5% of the total) at a cost of £8.2m.

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For more information please contact:
Sarah Godfrey            
Edison Investment Research        
+44-(0)20-3681-2519

Andrew Mitchell        
Edison Investment Research        
+44-(0)20-3681-2500
investmenttrusts@edisongroup.com