# JPMorgan Asia Growth & Income reports 37% 1-year share growth, beats index (LON: JAGI)

- Link: https://www.directorstalkinterviews.com/jpmorgan-asia-growth-income-reports-37-1-year-share-growth-beats-index-lon-jagi/4121249750
- Published: 2026-04-22T07:42:48+01:00
- Author: Amilia Stone

**JPMorgan Asia Growth & Income plc** (LON:JAGI) has announced its latest factsheet
for March 2026.

**Month in review**

As of 31/03/2026

 * Asia Pacific equities sold off sharply in March as a spike in oil prices — following
   escalating US–Israeli military operations against Iran — triggered a broad risk-
   off move. The impact reverberated through deleveraging in higher-beta exposures,
   dispersion between energy-independent and import-dependent markets and a reassessment
   of inflation and policy trajectories against a stagflationary backdrop.
 * China proved relatively resilient, supported by a diversified energy mix and 
   firmer economic activity. South Korea came under pressure from the macro shock,
   memory pricing concerns and extended positioning. India weakened as the oil shock
   worsened the macro backdrop amid heavy foreign selling. In ASEAN, Malaysia held
   up on domestic demand confidence while Indonesia lagged.
 * At the sector level, defensives led — energy, utilities and staples outperformed—
   while IT, materials, and consumer discretionary bore the brunt of de-risking.
 * The trust outperformed the benchmark. Stock selection in South Korea, Taiwan 
   and Australia, along with an overweight in Hong Kong, contributed positively,
   while the overweight in South Korea and underweight in Thailand detracted.
 * In Korea, an underweight in SK Hynix proved beneficial as the market suffered
   heavy selling on geopolitical risk, with oil above USD 100 raising energy import
   concerns. Declining DRAM spot prices and Google’s TurboQuant memory compression
   technology also weighed on the stock. An overweight in S-Oil added value as it
   benefited from rising crude.
 * High-yielding telecom holdings such as Taiwan Mobile and Telstra contributed 
   in the risk-off environment. Taiwan Mobile raised its payout ratio to 101%, with
   free cash flow well above net profit. Telstra delivered a larger-than-expected
   ARPU increase through price rises, underpinned by ~60% revenue share and a significant
   network advantage.
 * In China, Yangtze Power contributed on defensive characteristics, CATL gained
   on strong fourth-quarter results and EV/energy-storage demand, Foshan Haitian
   Flavouring beat expectations as internal reforms paid off, and Kweichow Moutai
   announced a surprise price hike signalling management confidence. Zero Thailand
   exposure detracted as the market outperformed, supported by upstream oil stocks
   and domestic defensives.

**Looking ahead**

As of 31/03/2026

 * A weaker dollar, fiscal support and accommodative policy across the US, Europe
   and China should sustain global demand through 2026.
 * North Asia remains central to the AI supply chain, with surging tech exports 
   driving a broader Asian recovery supported by data centre buildouts across ASEAN
   and the GCC.
 * We favour memory producers and complementary choke points, though valuation discipline
   is essential.
 * China remains a two-speed market — deflationary pressures persist alongside AI-
   driven outperformance. In India, selective opportunities are emerging as the 
   government targets growth revival.
 * Valuations have re-rated, but earnings should underpin returns as leadership 
   broadens into financials and industrials. Geopolitics remain an overhang, though
   tariff-related growth risks are fading.

[JAGI Factsheet at 31 March 2026](https://www.directorstalkinterviews.com/wp-content/uploads/2026/04/JAGI-Factsheet-at-31-March-2026.pdf)
[Download](https://www.directorstalkinterviews.com/wp-content/uploads/2026/04/JAGI-Factsheet-at-31-March-2026.pdf)

_JPMorgan Asia Growth & Income aims to provide total return from investing in equities
quoted on the stock markets of Asia, excluding Japan. The Company will have a diversified
portfolio of Asian stocks comprising around 50 to 80 investments_

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