- JPMorgan Indian Investment Trust was outperformed by its benchmark in the year to the end of September.

The company provided a return of 45.1% compared with a 47.1% increase in the MSCI India Index, in sterling terms.

Chairman Hugh Bolland said: "This is somewhat disappointing, but should be viewed in the context of the longer term.

"The managers have contributed positively to performance in each of the previous six years.

"The board have spent a considerable amount of time in recent months discussing with the managers the portfolio and the reasons for the underperformance.

"The board is confident that the fundamental, research-based approach of the managers which has provided such good returns for the company over a long period is the correct one, and believe that it will again provide superior returns in more normal market conditions."

Story provided by Business Financial Newswire